17,697 Shares in Coinbase Global, Inc. $COIN Acquired by Readystate Asset Management LP

Readystate Asset Management LP purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 17,697 shares of the cryptocurrency exchange’s stock, valued at approximately $2,587,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in COIN. Geode Capital Management LLC lifted its holdings in shares of Coinbase Global by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 6,098,062 shares of the cryptocurrency exchange’s stock worth $1,374,080,000 after buying an additional 189,080 shares in the last quarter. Paradigm Operations LP grew its stake in shares of Coinbase Global by 3.3% in the fourth quarter. Paradigm Operations LP now owns 4,262,458 shares of the cryptocurrency exchange’s stock valued at $963,912,000 after acquiring an additional 134,425 shares in the last quarter. Norges Bank acquired a new position in shares of Coinbase Global in the fourth quarter valued at about $656,744,000. ARK Investment Management LLC increased its position in Coinbase Global by 6.1% during the fourth quarter. ARK Investment Management LLC now owns 2,541,928 shares of the cryptocurrency exchange’s stock worth $574,832,000 after acquiring an additional 146,388 shares during the period. Finally, Northern Trust Corp raised its stake in Coinbase Global by 5.9% in the 3rd quarter. Northern Trust Corp now owns 1,959,871 shares of the cryptocurrency exchange’s stock worth $661,437,000 after purchasing an additional 108,751 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Price Performance

COIN stock opened at $184.64 on Monday. The company’s 50-day moving average price is $163.48 and its two-hundred day moving average price is $175.61. The firm has a market cap of $48.72 billion, a P/E ratio of -48.08 and a beta of 3.39. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 0.45. Coinbase Global, Inc. has a 12 month low of $139.11 and a 12 month high of $402.16.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.92). The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.29 billion. Coinbase Global had a positive return on equity of 3.12% and a negative net margin of 15.72%.The business’s revenue was down 18.5% on a year-over-year basis. During the same period last year, the company posted $5.14 EPS. On average, analysts anticipate that Coinbase Global, Inc. will post -0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on COIN. KeyCorp reissued a “sector weight” rating on shares of Coinbase Global in a report on Wednesday, June 17th. Wolfe Research set a $325.00 target price on shares of Coinbase Global in a report on Thursday, July 9th. Citigroup reiterated a “market outperform” rating on shares of Coinbase Global in a research report on Friday, July 31st. Weiss Ratings cut Coinbase Global from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, July 31st. Finally, Rothschild & Co Redburn increased their price target on Coinbase Global from $254.00 to $263.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Eighteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $216.87.

Insider Activity at Coinbase Global

In other Coinbase Global news, CAO Jennifer N. Jones sold 2,062 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $188.75, for a total value of $389,202.50. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 35,068 shares of Coinbase Global stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $144.32, for a total value of $5,061,013.76. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 57,130 shares of company stock valued at $8,830,416. Company insiders own 16.66% of the company’s stock.

Coinbase Global News Summary

Here are the key news stories impacting Coinbase Global this week:

• Positive Sentiment: U.S. equity perpetuals could expand revenue: Coinbase filed SEC notices covering plans to offer 24/7 single-stock perpetual futures to U.S. traders. The products could broaden Coinbase’s derivatives business and strengthen its “everything exchange” strategy, although Commodity Futures Trading Commission approval is still required and launch details remain undisclosed. Coinbase Brings 24/7 Stock Perpetuals to the US
• Positive Sentiment: International derivatives expansion: Coinbase launched regulated crypto derivatives trading in Canada, adding perpetual and dated contracts tied to major digital assets. The launch may increase trading volume, diversify revenue and support its global growth strategy. Can Canada’s Derivatives Launch Boost Coinbase’s Global Growth?
• Positive Sentiment: Crypto-policy optimism remains supportive: Investors continue to watch potential U.S. crypto market-structure legislation, including a Senate procedural vote expected September 15. Clearer rules could benefit Coinbase as a regulated exchange and custody provider.
• Neutral Sentiment: Board and investor-outreach updates: Coinbase added Anthony Armstrong, former CFO of xAI and X, to its board and plans appearances at upcoming Citi and Goldman Sachs conferences. These developments may provide strategic updates but do not change near-term earnings expectations.
• Negative Sentiment: Macro pressure on crypto assets: The hotter-than-expected jobs report increased the prospect of higher-for-longer interest rates, weighing on Bitcoin and other risk assets. Lower crypto prices and trading activity can reduce Coinbase’s transaction revenue, despite the possibility that higher rates support stablecoin income. Coinbase Slides as Hot Jobs Report Dents 10% Rally
• Negative Sentiment: Mixed analyst and insider signals: Zacks placed COIN on its “Strong Sell” list, while a director sold 10,000 shares for approximately $1.79 million under a pre-arranged Rule 10b5-1 plan. Coinbase also recently reported an earnings and revenue miss, with revenue down year over year. New Strong Sell Stocks for September 3rd

About Coinbase Global

Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.