Parallel Advisors LLC Purchases 4,274 Shares of Coinbase Global, Inc. $COIN

Parallel Advisors LLC grew its position in Coinbase Global, Inc. (NASDAQ:COIN) by 31.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,983 shares of the cryptocurrency exchange’s stock after acquiring an additional 4,274 shares during the period. Parallel Advisors LLC’s holdings in Coinbase Global were worth $3,352,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. CenterBook Partners LP bought a new position in Coinbase Global in the 3rd quarter worth approximately $344,000. Alta Advisers Ltd acquired a new position in shares of Coinbase Global during the third quarter valued at $309,000. Kestra Private Wealth Services LLC increased its position in Coinbase Global by 10.1% in the third quarter. Kestra Private Wealth Services LLC now owns 23,329 shares of the cryptocurrency exchange’s stock worth $4,349,000 after purchasing an additional 2,149 shares during the period. Chicago Partners Investment Group LLC increased its position in Coinbase Global by 17.4% in the third quarter. Chicago Partners Investment Group LLC now owns 3,819 shares of the cryptocurrency exchange’s stock worth $628,000 after purchasing an additional 565 shares during the period. Finally, Rakuten Investment Management Inc. lifted its position in Coinbase Global by 9.7% during the 3rd quarter. Rakuten Investment Management Inc. now owns 39,243 shares of the cryptocurrency exchange’s stock valued at $7,457,000 after purchasing an additional 3,469 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on COIN. Robert W. Baird upped their target price on shares of Coinbase Global from $130.00 to $205.00 and gave the company a “neutral” rating in a research report on Monday, September 28th. HC Wainwright restated a “buy” rating and set a $240.00 target price on shares of Coinbase Global in a report on Friday, October 30th. Citigroup reaffirmed a “market outperform” rating on shares of Coinbase Global in a research note on Friday, October 30th. Wells Fargo & Company reduced their price objective on shares of Coinbase Global from $200.00 to $174.00 and set an “equal weight” rating on the stock in a research note on Friday, October 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Coinbase Global from $148.00 to $189.00 and gave the stock an “overweight” rating in a report on Monday, October 26th. Twenty-one research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Coinbase Global has a consensus rating of “Hold” and an average price target of $209.88.

Coinbase Global Stock Performance

COIN opened at $134.76 on Monday. The company has a market capitalization of $35.55 billion, a price-to-earnings ratio of -47.62 and a beta of 3.35. The business’s 50-day moving average price is $175.35 and its two-hundred day moving average price is $176.27. Coinbase Global, Inc. has a 1 year low of $131.55 and a 1 year high of $324.80. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.42 and a quick ratio of 2.42.

Coinbase Global News Roundup

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

• Positive Sentiment: Coinbase is expanding its services: eligible U.S. users can borrow USDC against tokenized gold, while Coinbase Prime now offers eligible institutions access to Deribit options and perpetual futures. These initiatives could broaden product use and revenue sources. Coinbase Enables Borrowing Against Gold via Morpho Coinbase Prime opens Deribit options and perps to eligible US institutions
• Positive Sentiment: Growing subscription revenue and cost discipline may make the business more resilient than trading fees alone would suggest, though the article also flags profitability and valuation risks. Is Coinbase Building a More Resilient and Profitable Business?
• Neutral Sentiment: Coinbase says more than 99% of customer crypto is held offline and described controls designed to limit hot-wallet exposure, after a major Binance hack raised concerns about exchange security. The reassurance may help maintain customer confidence, but the incident has also put sector-wide security risks in focus. Hackers beware: Coinbase says 99% of customer crypto is kept offline
• Negative Sentiment: Bitcoin’s drop below $76,000 in a broad market sell-off weighed on crypto-linked shares. Coinbase can move more sharply than the wider market because trading fees and earnings tend to track crypto prices and activity. Coinbase Sinks as Bitcoin Falls Below $76,000
• Negative Sentiment: Analysts also cite crypto volatility, weak underlying profits and a rich valuation as risks. Separately, Morgan Stanley’s negative reaction to the Binance breach added pressure despite Coinbase not being affected by that incident. Coinbase business resilience and risks Coinbase gets downgraded for a breach that happened elsewhere

Insider Transactions at Coinbase Global

In other Coinbase Global news, Director Frederick Wilson sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $178.93, for a total transaction of $1,789,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Marc Andreessen sold 6,838 shares of the firm’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $198.00, for a total transaction of $1,353,924.00. Following the completion of the transaction, the director directly owned 1,108,972 shares of the company’s stock, valued at approximately $219,576,456. This trade represents a 0.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 92,120 shares of company stock worth $17,968,544 in the last 90 days. 16.66% of the stock is owned by corporate insiders.

About Coinbase Global

Coinbase Global operates a cryptocurrency platform serving individual consumers, businesses and institutional clients. Its services include buying, selling and holding digital assets, as well as trading tools and cryptocurrency custody services.

The company also offers products for developers and businesses building on blockchain networks, including Base, its Ethereum layer-2 network. Coinbase supports the USDC stablecoin through its partnership with Circle and provides services such as staking and payment infrastructure.

Founded in 2012 by Brian Armstrong and Fred Ehrsam, Coinbase is headquartered in the United States and serves customers in the U.S.