Liontrust Investment Partners LLP Grows Holdings in Coinbase Global, Inc. $COIN

Liontrust Investment Partners LLP grew its position in Coinbase Global, Inc. (NASDAQ:COIN) by 12.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,179 shares of the cryptocurrency exchange’s stock after acquiring an additional 5,434 shares during the period. Liontrust Investment Partners LLP’s holdings in Coinbase Global were worth $8,587,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Palisade Asset Management LLC acquired a new position in Coinbase Global in the 3rd quarter worth about $29,000. MV Capital Management Inc. purchased a new position in Coinbase Global during the fourth quarter worth approximately $27,000. Osbon Capital Management LLC acquired a new stake in Coinbase Global in the fourth quarter valued at approximately $30,000. JPL Wealth Management LLC acquired a new stake in Coinbase Global in the third quarter valued at approximately $49,000. Finally, Brooklands Fund Management Ltd purchased a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $34,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global News Summary

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

• Positive Sentiment: Coinbase captured a record 10.3% share of global crypto trading volume, up from 9.1% in the first quarter, indicating that it is gaining market share even as overall industry activity weakens. The company also highlighted growth in derivatives, stablecoins, tokenized finance, prediction markets and subscription services. Coinbase Q2 results and record market share
• Positive Sentiment: A Manhattan federal judge dismissed much of a customer lawsuit alleging Coinbase illegally sold unregistered securities, including claims involving matched customer transactions. The ruling could reduce legal exposure, although remaining claims may still create risk. Coinbase customer lawsuit ruling
• Neutral Sentiment: Management is lobbying for the Senate’s CLARITY Act, which could establish clearer crypto-market rules and potentially make it easier for Coinbase to expand products and attract institutional and retail customers. Passage and timing remain uncertain. CLARITY Act implications for Coinbase
• Negative Sentiment: Coinbase reported a GAAP net loss of $359.5 million, or $1.36 per diluted share, versus analysts’ expected loss of roughly $122 million, while revenue fell 18.5% year over year to $1.22 billion, below estimates near $1.29 billion to $1.31 billion. This marked the company’s third consecutive quarterly loss and its third straight revenue and earnings miss. Coinbase third-quarterly loss report
• Negative Sentiment: Lower spot-crypto trading volumes and subdued market volatility reduced transaction revenue and outweighed gains in subscription and services revenue. The results raise doubts about whether Coinbase can quickly diversify beyond its traditional exchange business.

Insider Activity

In other news, CAO Jennifer N. Jones sold 2,051 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $158.15, for a total transaction of $324,365.65. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lawrence J. Brock sold 6,616 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $189.01, for a total transaction of $1,250,490.16. Following the completion of the sale, the insider directly owned 517 shares of the company’s stock, valued at $97,718.17. This represents a 92.75% 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. In the last 90 days, insiders sold 30,627 shares of company stock worth $5,327,841. 16.66% of the stock is owned by insiders.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $163.58 on Friday. The business’s 50 day moving average price is $164.00 and its 200 day moving average price is $181.97. The company has a market cap of $43.10 billion, a price-to-earnings ratio of 61.50, a PEG ratio of 10.30 and a beta of 3.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.14 and a current ratio of 2.14. Coinbase Global, Inc. has a one year low of $139.18 and a one year high of $402.16.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($1.55). Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the company earned $0.24 earnings per share. The firm’s quarterly revenue was down 30.5% compared to the same quarter last year. On average, research analysts predict that Coinbase Global, Inc. will post 1.42 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on COIN. Weiss Ratings raised Coinbase Global from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. B. Riley Financial dropped 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. Needham & Company LLC reissued a “buy” rating and issued a $220.00 price target on shares of Coinbase Global in a report on Wednesday, June 17th. Rothschild & Co Redburn upped their price objective on shares of Coinbase Global from $254.00 to $263.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Finally, Wolfe Research set a $325.00 price objective on shares of Coinbase Global in a report on Thursday, July 9th. Eighteen investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Coinbase Global has a consensus rating of “Hold” and an average price target of $233.47.

About Coinbase Global

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.