Janus Henderson Group PLC Sells 384,553 Shares of Coinbase Global, Inc. $COIN

Janus Henderson Group PLC reduced its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 70.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 164,751 shares of the cryptocurrency exchange’s stock after selling 384,553 shares during the period. Janus Henderson Group PLC owned approximately 0.06% of Coinbase Global worth $28,767,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Palisade Asset Management LLC bought a new stake in shares of Coinbase Global during the 3rd quarter valued at $29,000. MV Capital Management Inc. bought a new position in shares of Coinbase Global in the 4th quarter worth $27,000. Osbon Capital Management LLC bought a new position in shares of Coinbase Global in the 4th quarter worth $30,000. JPL Wealth Management LLC acquired a new stake in shares of Coinbase Global during the third quarter worth $49,000. Finally, Brooklands Fund Management Ltd acquired a new stake in shares of Coinbase Global during the fourth quarter worth $34,000. 68.84% of the stock is owned by institutional investors.

Coinbase Global News Roundup

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.

Analysts Set New Price Targets

A number of brokerages have issued reports on COIN. Canaccord Genuity Group restated a “buy” rating and set a $300.00 target price on shares of Coinbase Global in a report on Friday. KeyCorp reaffirmed a “sector weight” rating on shares of Coinbase Global in a research note on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $208.00 price target on shares of Coinbase Global in a research report on Wednesday, June 17th. UBS Group set a $155.00 price objective on shares of Coinbase Global in a research note on Friday. Finally, Benchmark decreased their price objective on shares of Coinbase Global from $270.00 to $230.00 and set a “buy” rating for the company in a report on Friday. Eighteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $221.31.

Coinbase Global Price Performance

NASDAQ:COIN opened at $146.26 on Monday. Coinbase Global, Inc. has a 1 year low of $139.11 and a 1 year high of $402.16. The stock has a 50-day moving average price of $163.23 and a two-hundred day moving average price of $181.29. The stock has a market cap of $38.53 billion, a price-to-earnings ratio of -38.09, a PEG ratio of 10.62 and a beta of 3.36. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 0.45.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.92). Coinbase Global had a positive return on equity of 3.12% and a negative net margin of 15.72%.The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the business earned $5.14 EPS. The company’s revenue for the quarter was down 18.5% compared to the same quarter last year. As a group, equities analysts expect that Coinbase Global, Inc. will post 1.25 earnings per share for the current year.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 6,616 shares of Coinbase Global stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $189.01, for a total value of $1,250,490.16. Following the transaction, the insider owned 517 shares of the company’s stock, valued at approximately $97,718.17. The trade was a 92.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,051 shares of Coinbase Global stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $158.15, for a total transaction of $324,365.65. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 30,627 shares of company stock valued at $5,327,841. Corporate 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.