Syon Capital LLC Boosts Stake in Coinbase Global, Inc. $COIN

Syon Capital LLC boosted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 842.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,533 shares of the cryptocurrency exchange’s stock after buying an additional 5,840 shares during the quarter. Syon Capital LLC’s holdings in Coinbase Global were worth $1,477,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Coinbase Global by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 26,400,836 shares of the cryptocurrency exchange’s stock valued at $5,970,285,000 after buying an additional 184,043 shares in the last quarter. Geode Capital Management LLC lifted its stake in Coinbase Global by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 6,098,062 shares of the cryptocurrency exchange’s stock valued at $1,374,080,000 after buying an additional 189,080 shares in the last quarter. Norges Bank purchased a new position in Coinbase Global in the 4th quarter valued at about $656,744,000. Northern Trust Corp lifted 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 valued at $661,437,000 after buying an additional 108,751 shares in the last quarter. Finally, Capital World Investors lifted its stake in Coinbase Global by 847.2% in the 4th quarter. Capital World Investors now owns 1,536,534 shares of the cryptocurrency exchange’s stock valued at $347,472,000 after buying an additional 1,374,318 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global News Roundup

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

• Positive Sentiment: Coinbase is expanding into new products with its SpaceX pre-IPO perpetual futures launch for overseas users, a move that could open up a new, higher-margin trading category and support long-term growth. Article Title
• Positive Sentiment: Coinbase and Better Mortgage completed the first U.S. Bitcoin-backed home loan approved by Fannie Mae, highlighting Coinbase’s push into real-world crypto utility and financial infrastructure. Article Title
• Positive Sentiment: Coinbase CEO Brian Armstrong’s comments on U.S.-China competition reinforce the company’s long-term growth narrative and pro-innovation image. Article Title
• Neutral Sentiment: Coinbase remains widely watched by investors, with high web traffic and analyst attention keeping the stock in focus, though this alone does not change fundamentals. Article Title
• Negative Sentiment: Baird lowered its price target on Coinbase to $142 and flagged weak trading volumes, implying that crypto activity may stay soft for longer than bulls hoped. Article Title
• Negative Sentiment: Bitcoin’s continued selloff and broader crypto weakness are pressuring Coinbase shares by reducing expected trading volume and investor risk appetite. Article Title
• Negative Sentiment: A Coinbase director sold 10,000 shares in a pre-arranged transaction, which can add to cautious sentiment even if it was not a discretionary sale. Article Title

Analyst Ratings Changes

A number of research analysts recently weighed in on COIN shares. Rothschild & Co Redburn raised their price target on shares of Coinbase Global from $254.00 to $263.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. B. Riley Financial decreased their price target on shares of Coinbase Global from $243.00 to $203.00 and set a “neutral” rating on the stock in a research note on Monday, June 1st. President Capital upped their target price 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. Piper Sandler dropped their target price on shares of Coinbase Global from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Friday, May 8th. Finally, Sanford C. Bernstein dropped their target price on shares of Coinbase Global from $440.00 to $330.00 and set an “outperform” rating for the company in a report on Monday, March 30th. Nineteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $250.23.

Coinbase Global Price Performance

COIN stock opened at $152.40 on Monday. The company has a market cap of $40.15 billion, a price-to-earnings ratio of 57.29, a PEG ratio of 5.28 and a beta of 3.32. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44. Coinbase Global, Inc. has a 12 month low of $139.36 and a 12 month high of $444.64. The firm has a 50-day moving average of $186.06 and a two-hundred day moving average of $207.19.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55). The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.49 billion. Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The firm’s revenue was down 30.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.24 EPS. As a group, analysts forecast that Coinbase Global, Inc. will post 1.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 10,020 shares of the stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $200.00, for a total value of $2,004,000.00. Following the completion of the sale, the chief financial officer owned 377,201 shares in the company, valued at approximately $75,440,200. This represents a 2.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Grewal sold 1,960 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $176.88, for a total transaction of $346,684.80. Following the completion of the sale, the insider owned 84,753 shares of the company’s stock, valued at approximately $14,991,110.64. The trade was a 2.26% decrease in their position. 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 have sold a total of 38,546 shares of company stock worth $7,422,495 in the last quarter. Insiders own 16.66% of the company’s stock.

Coinbase Global Company 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.