Coinbase Global, Inc. $COIN is CTC Alternative Strategies Ltd.’s 2nd Largest Position

CTC Alternative Strategies Ltd. boosted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 420.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,423 shares of the cryptocurrency exchange’s stock after acquiring an additional 12,461 shares during the quarter. Coinbase Global accounts for approximately 6.1% of CTC Alternative Strategies Ltd.’s portfolio, making the stock its 2nd largest holding. CTC Alternative Strategies Ltd.’s holdings in Coinbase Global were worth $2,693,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Formidable Asset Management LLC boosted its holdings in shares of Coinbase Global by 2.2% in the 4th quarter. Formidable Asset Management LLC now owns 2,074 shares of the cryptocurrency exchange’s stock worth $469,000 after purchasing an additional 44 shares in the last quarter. L2 Asset Management LLC increased its position in shares of Coinbase Global by 5.0% during the 3rd quarter. L2 Asset Management LLC now owns 965 shares of the cryptocurrency exchange’s stock valued at $326,000 after purchasing an additional 46 shares during the last quarter. Ancora Advisors LLC raised its holdings in shares of Coinbase Global by 4.5% during 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. lifted its position in Coinbase Global by 1.1% in 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 last quarter. Finally, SRH Advisors LLC lifted its position in Coinbase Global by 10.1% in 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 last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Activity

In other Coinbase Global 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 value of $324,365.65. The transaction 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 transaction, the insider directly owned 517 shares of the company’s stock, valued at approximately $97,718.17. This trade represents a 92.75% 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. Over the last 90 days, insiders sold 30,627 shares of company stock worth $5,327,841. 16.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

COIN has been the topic of a number of recent research reports. Barclays reduced their price target on shares of Coinbase Global from $99.00 to $95.00 and set an “underweight” rating on the stock in a research report on Friday. Wedbush set a $224.00 price objective on shares of Coinbase Global in a report on Friday, May 8th. UBS Group set a $155.00 price objective on shares of Coinbase Global in a research note on Friday. B. Riley Financial reduced their target price on shares of Coinbase Global from $243.00 to $203.00 and set a “neutral” rating on the stock in a report on Monday, June 1st. Finally, Raymond James Financial began coverage on shares of Coinbase Global in a research note on Wednesday, July 22nd. They issued a “market perform” rating for the company. Eighteen equities research 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. According to data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Hold” and a consensus price target of $221.31.

Coinbase Global Stock Performance

Shares of COIN stock opened at $146.26 on Friday. The company has a market capitalization of $38.53 billion, a P/E ratio of -38.09, a PEG ratio of 11.88 and a beta of 3.35. Coinbase Global, Inc. has a fifty-two week low of $139.11 and a fifty-two week high of $402.16. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.14 and a current ratio of 2.14. The stock has a 50 day moving average price of $163.23 and a two-hundred day moving average price of $181.72.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.92). Coinbase Global had a positive return on equity of 3.04% and a negative net margin of 15.72%.The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the business posted $5.14 EPS. The firm’s revenue for the quarter was down 18.5% on a year-over-year basis. Analysts expect that Coinbase Global, Inc. will post 1.25 earnings per share for the current year.

Key Stories Impacting Coinbase Global

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

• Positive Sentiment: Coinbase captured a record 10.3% of global crypto trading volume, up from 9.1% in the first quarter, indicating that it is gaining share even as the overall market contracts. Coinbase Hits Record Market Share Despite Loss
• Positive Sentiment: Management highlighted growth in derivatives, stablecoins, prediction markets, Base and agent-driven finance as it seeks to become an “everything exchange” less dependent on spot crypto trading. Some analysts believe this diversification could improve resilience during crypto downturns. Coinbase Earnings Call Highlights
• Positive Sentiment: A federal judge dismissed much of a customer lawsuit alleging Coinbase illegally sold unregistered securities, reducing a significant legal overhang, although related litigation risk remains. Coinbase Wins Dismissal in Token Lawsuit
• Neutral Sentiment: Several analysts maintained Buy or Outperform ratings and cited long-term upside, but lowered targets after the earnings report. Needham reduced its target to $177, while Oppenheimer cut its target to $193; Canaccord reaffirmed a $300 target.
• Negative Sentiment: Second-quarter revenue fell about 19% year over year to $1.22 billion, below estimates near $1.3 billion. Transaction revenue declined 21% to $599 million as lower spot-market volumes and subdued volatility hurt trading activity. Coinbase Reports Third Straight Quarterly Loss
• Negative Sentiment: Coinbase posted a GAAP net loss of approximately $359 million, or $1.36 per share, far worse than expectations, marking its third consecutive quarterly loss. Subscription and services growth was not sufficient to offset the trading slump. Coinbase Q2 Results Miss Estimates
• Negative Sentiment: Falling Bitcoin prices and reduced crypto ETF inflows are pressuring the entire crypto-linked equity group. Analysts also cut earnings forecasts, with some projecting a full-year loss, reinforcing concerns that Coinbase remains highly exposed to the crypto cycle.

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.