Ninepoint Partners LP Makes New $752,000 Investment in Coinbase Global, Inc. $COIN

Ninepoint Partners LP bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,147 shares of the cryptocurrency exchange’s stock, valued at approximately $752,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. North Dakota State Investment Board purchased a new stake in Coinbase Global in the fourth quarter valued at $1,626,000. Mizuho Markets Cayman LP acquired a new stake in shares of Coinbase Global during the 4th quarter worth about $33,921,000. Harvest Portfolios Group Inc. increased its position in shares of Coinbase Global by 21.7% during the 4th quarter. Harvest Portfolios Group Inc. now owns 376,578 shares of the cryptocurrency exchange’s stock worth $85,159,000 after purchasing an additional 67,082 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of Coinbase Global by 65.4% during the 1st quarter. QRG Capital Management Inc. now owns 24,102 shares of the cryptocurrency exchange’s stock worth $4,208,000 after purchasing an additional 9,532 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Coinbase Global by 366.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 154,702 shares of the cryptocurrency exchange’s stock valued at $22,616,000 after buying an additional 121,552 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Jennifer N. Jones sold 2,051 shares of Coinbase Global stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $158.15, for a total value of $324,365.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 dated 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. Insiders sold 59,079 shares of company stock valued at $9,138,364 in the last three months. 16.66% of the stock is owned by corporate insiders.

Key Coinbase Global News

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

• Positive Sentiment: Bitcoin rally lifts crypto exposure: Bitcoin moved above $70,000, gaining sharply over the past two sessions. Higher crypto prices typically support Coinbase through increased trading volumes, retail engagement and transaction revenue. A short-liquidation wave and strength in Ether and other tokens added momentum. Bitcoin, crypto shares climb after Trump pushes Clarity Act
• Positive Sentiment: CLARITY Act optimism: President Donald Trump urged Congress to advance the Digital Asset Market CLARITY Act after meeting crypto executives, including CEO Brian Armstrong. Armstrong said he expects the bill could receive more than 60 Senate votes in September. Clearer rules separating digital assets into securities and commodities could reduce Coinbase’s regulatory risk and support new products. Coinbase CEO Says Crypto On the Cusp of Next Bull Market
• Positive Sentiment: CEO bullish on growth opportunities: Armstrong said crypto could be approaching its next bull market and highlighted “AI-Fi,” tokenization and autonomous-agent payments as emerging opportunities. Coinbase also received Abu Dhabi approval for a regulated tokenized-securities hub and expanded access to Hyperliquid perpetual futures, broadening its international and product footprint. Coinbase Gets Abu Dhabi Approval for Tokenized Securities
• Neutral Sentiment: Additional regulatory support remains incomplete: The SEC’s proposed crypto framework could improve the path for tokenization and compliant secondary trading, but the CLARITY Act remains stalled and could face political and ethics-related obstacles. Trump administration moves ahead with new crypto rules
• Negative Sentiment: Valuation and earnings risks persist: Analysts continue to flag Coinbase’s premium valuation, declining recent revenue and weak earnings. The company’s latest quarter missed estimates, posted a loss and reported lower year-over-year revenue, leaving COIN highly sensitive to any reversal in crypto prices or trading activity. Coinbase Global Stock Carries a Premium Multiple and a Shrinking Top Line

Coinbase Global Stock Performance

Shares of COIN stock opened at $172.35 on Friday. The firm has a 50 day moving average of $158.14 and a two-hundred day moving average of $174.05. The stock has a market capitalization of $45.47 billion, a PE ratio of -44.88 and a beta of 3.36. 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 52 week low of $139.11 and a 52 week high of $402.16.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data 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 company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Coinbase Global had a positive return on equity of 3.12% and a negative net margin of 15.72%.The firm’s revenue was down 18.5% compared to the same quarter last year. During the same period in the prior year, the company posted $5.14 EPS. On average, research analysts predict that Coinbase Global, Inc. will post -0.05 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Rothschild & Co Redburn increased their target price on shares of Coinbase Global from $254.00 to $263.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. President Capital upped their price objective on shares of Coinbase Global from $236.00 to $264.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Oppenheimer dropped their target price on shares of Coinbase Global from $209.00 to $193.00 and set an “outperform” rating for the company in a report on Friday, July 31st. JPMorgan Chase & Co. boosted their price objective on Coinbase Global from $252.00 to $290.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Finally, HC Wainwright restated a “buy” rating and set a $265.00 target price on shares of Coinbase Global in a report on Friday, July 31st. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $215.11.

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.