Caxton Associates LLP Buys New Shares in Coinbase Global, Inc. $COIN

Caxton Associates LLP purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 4,000 shares of the cryptocurrency exchange’s stock, valued at approximately $698,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Formidable Asset Management LLC boosted its holdings in shares of Coinbase Global by 2.2% during the fourth quarter. Formidable Asset Management LLC now owns 2,074 shares of the cryptocurrency exchange’s stock worth $469,000 after acquiring an additional 44 shares during the period. L2 Asset Management LLC grew its holdings in Coinbase Global by 5.0% in the 3rd quarter. L2 Asset Management LLC now owns 965 shares of the cryptocurrency exchange’s stock valued at $326,000 after buying an additional 46 shares in the last quarter. Ancora Advisors LLC grew its holdings in Coinbase Global by 4.5% in the 3rd quarter. Ancora Advisors LLC now owns 1,174 shares of the cryptocurrency exchange’s stock valued at $396,000 after buying an additional 51 shares in the last quarter. Fulton Bank N.A. increased its position in Coinbase Global by 1.1% during the 1st quarter. Fulton Bank N.A. now owns 4,942 shares of the cryptocurrency exchange’s stock worth $863,000 after buying an additional 53 shares during the period. Finally, SRH Advisors LLC increased its position in Coinbase Global by 10.1% during the 4th quarter. SRH Advisors LLC now owns 600 shares of the cryptocurrency exchange’s stock worth $136,000 after buying an additional 55 shares during the period. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of COIN opened at $167.49 on Tuesday. Coinbase Global, Inc. has a 12-month low of $139.18 and a 12-month high of $402.16. The business has a 50-day simple moving average of $165.74 and a two-hundred day simple moving average of $183.67. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.44. The stock has a market cap of $44.13 billion, a PE ratio of 62.97, a PEG ratio of 10.19 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55). Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the firm posted $0.24 EPS. Coinbase Global’s revenue for the quarter was down 30.5% on a year-over-year basis. Analysts anticipate that Coinbase Global, Inc. will post 1.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on COIN. Zacks Research upgraded shares of Coinbase Global from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Monness Crespi & Hardt reissued a “sell” rating on shares of Coinbase Global in a report on Friday, June 5th. Piper Sandler decreased their target price on shares of Coinbase Global from $170.00 to $155.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. Compass Point reaffirmed a “sell” rating on shares of Coinbase Global in a report on Monday, June 1st. Finally, Benchmark reiterated a “buy” rating on shares of Coinbase Global in a research report on Wednesday, July 22nd. Eighteen investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Coinbase Global currently has an average rating of “Hold” and a consensus price target of $239.14.

Insider Buying and Selling at Coinbase Global

In related news, Director Frederick R. Wilson sold 10,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $159.09, for a total transaction of $1,590,900.00. Following the transaction, the director directly owned 20,000 shares in the company, valued at approximately $3,181,800. The trade was a 33.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Grewal sold 1,960 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $176.88, for a total value of $346,684.80. Following the sale, the insider directly owned 84,753 shares of the company’s stock, valued at approximately $14,991,110.64. This represents a 2.26% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 30,627 shares of company stock worth $5,327,841. 16.66% of the stock is owned by company insiders.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: CEO Brian Armstrong argued that artificial intelligence should increase demand for crypto rather than replace it. He highlighted Base, USDC and Coinbase’s x402 payment protocol as infrastructure for autonomous AI-agent transactions, noting that Base has surpassed 100 million AI-related payments. Coinbase CEO touts agentic finance as Base tops 100M AI payments
• Positive Sentiment: Coinbase executives urged U.S. lawmakers to advance crypto legislation and establish the country as a leader in the next financial system. A clear regulatory framework could support Coinbase’s domestic expansion and reduce compliance uncertainty. US must take the opportunity to lead next-generation financial system
• Positive Sentiment: Coinbase is developing post-quantum custody and key-management technology and has formed an advisory board focused on blockchain security. The effort may strengthen the exchange’s long-term institutional-security credentials, although the threat is not considered immediate. Coinbase steps up Bitcoin quantum security efforts
• Neutral Sentiment: Coinbase’s second-quarter earnings preview drew attention to trading activity and other operating metrics ahead of results. The focus is significant because the company’s latest reported quarter showed a year-over-year revenue decline and an earnings miss, making a recovery in transaction activity important for the stock. Coinbase Global Q2 earnings preview
• Negative Sentiment: Armstrong warned that part of the crypto industry could move offshore if the CLARITY Act stalls in the Senate. Although the bill could eventually provide regulatory clarity, continued delays prolong a key business risk for Coinbase. Brian Armstrong warns crypto business could leave the US
• Negative Sentiment: Analysts and commentators continue to cite macroeconomic weakness, cryptocurrency volatility, competition and regulatory uncertainty as reasons for a bearish outlook. Fanatics’ expansion into prediction markets also signals increasing competition for adjacent exchange and trading activity. Coinbase bearish outlook

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.