HBK Sorce Advisory LLC Buys 3,502 Shares of Coinbase Global, Inc. $COIN

HBK Sorce Advisory LLC grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 280.8% in the third quarter, HoldingsChannel.com reports. The fund owned 4,749 shares of the cryptocurrency exchange’s stock after acquiring an additional 3,502 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Coinbase Global were worth $1,603,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of COIN. Vanguard Group Inc. lifted its position in Coinbase Global by 25.5% during the second quarter. Vanguard Group Inc. now owns 24,208,863 shares of the cryptocurrency exchange’s stock worth $8,484,964,000 after purchasing an additional 4,914,407 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Coinbase Global by 46.1% during the 2nd quarter. Geode Capital Management LLC now owns 5,559,513 shares of the cryptocurrency exchange’s stock worth $1,940,805,000 after acquiring an additional 1,755,146 shares during the period. Norges Bank acquired a new stake in shares of Coinbase Global during the 2nd quarter worth approximately $1,044,354,000. Amundi increased its stake in Coinbase Global by 44.1% in the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock valued at $268,850,000 after acquiring an additional 481,786 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Coinbase Global by 53.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,455,916 shares of the cryptocurrency exchange’s stock valued at $510,284,000 after purchasing an additional 504,068 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. HC Wainwright raised Coinbase Global from a “sell” rating to a “buy” rating and raised their target price for the company from $300.00 to $425.00 in a report on Thursday, October 30th. The Goldman Sachs Group set a $294.00 price objective on Coinbase Global and gave the company a “neutral” rating in a research note on Thursday, December 18th. Jefferies Financial Group reissued a “hold” rating and set a $384.00 target price on shares of Coinbase Global in a research note on Wednesday, October 29th. Compass Point set a $230.00 price target on shares of Coinbase Global in a research note on Monday, December 15th. Finally, Rothschild & Co Redburn lowered their price objective on shares of Coinbase Global from $417.00 to $404.00 and set a “buy” rating for the company in a research report on Friday, November 28th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $383.54.

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 40,000 shares of the business’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $250.15, for a total value of $10,006,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Alesia J. Haas sold 5,633 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $266.49, for a total value of $1,501,138.17. Following the sale, the chief financial officer owned 78,714 shares in the company, valued at approximately $20,976,493.86. The trade was a 6.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 833,179 shares of company stock worth $250,839,195. Corporate insiders own 16.56% of the company’s stock.

Coinbase Global Trading Down 2.3%

Shares of NASDAQ COIN opened at $242.30 on Wednesday. The firm has a 50 day moving average price of $289.59 and a two-hundred day moving average price of $318.85. The stock has a market cap of $65.33 billion, a P/E ratio of 20.96 and a beta of 3.69. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $444.64. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.40. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. Coinbase Global’s revenue for the quarter was up 55.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 earnings per share. As a group, equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Key Stores Impacting Coinbase Global

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

• Positive Sentiment: Acquisition accelerates new revenue stream: Coinbase agreed to buy prediction?market startup The Clearing Company to expand its “Everything Exchange” strategy — a move that could create a new fees-and?engagement business beyond spot crypto trading if it scales. Coinbase doubles down on prediction markets (Reuters)
• Positive Sentiment: Institutional stablecoin use case: Klarna partnered with Coinbase to integrate USDC funding for short?term institutional financing — this increases institutional flows and custody/use of USDC on Coinbase rails. Klarna partners with Coinbase (Bitcoin.com)
• Positive Sentiment: Product expansion and distribution: Coinbase is enabling businesses to mint stablecoins and is backing third?party USDC on?ramps (e.g., Bitget/Alchemy Pay zero?fee on?ramp), which could widen transaction volumes and platform stickiness. Coinbase to allow businesses to create stablecoins (Crowdfund Insider) Bitget/Alchemy Pay on?ramp (GlobeNewswire)
• Positive Sentiment: Large investor interest: ARK Invest’s Cathie Wood increased exposure to COIN, a vote of confidence that can attract momentum traders and institutional attention. Cathie Wood increases COIN position (Invezz)
• Neutral Sentiment: Tokenization & analyst coverage: Industry pieces compare Coinbase to other tokenization providers and analysts remain mixed; these narratives matter for long?term valuation but are less likely to move the stock immediately absent concrete monetization metrics. Tokenization comparison (CoinJournal) Trending stock coverage (Zacks)
• Negative Sentiment: Insider sales by CEO and director: CEO Brian Armstrong sold 40,000 shares (~$10.0M) on Dec. 22 (SEC Form 4) and Director Fred Ehrsam disclosed recent sales — large insider dispositions can spook investors even if pre?scheduled or diversification?driven. Armstrong Form 4 (SEC) Ehrsam Form 4 (SEC)
• Negative Sentiment: Regulatory/legal friction: Coinbase sued Michigan arguing sports?betting law shouldn’t bar prediction markets — litigation and state?by?state pushback increase execution risk for the new business line and could limit rollout. Coinbase sues over Michigan rules (MLive)
• Negative Sentiment: Market skepticism: Several outlets highlight investor skepticism about how quickly Coinbase can monetize and scale these new initiatives — that skepticism can cap short?term multiple expansion until results appear. Ambitious pivot faces skepticism (Aktiencheck)

Coinbase Global Profile

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.