J. Derek Lewis & Associates Inc. Buys New Holdings in Coinbase Global, Inc. $COIN

J. Derek Lewis & Associates Inc. bought a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,290 shares of the cryptocurrency exchange’s stock, valued at approximately $924,000.

Other institutional investors have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC increased its holdings in Coinbase Global by 24.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange’s stock valued at $365,000 after buying an additional 413 shares during the period. Empowered Funds LLC lifted its holdings in shares of Coinbase Global by 25.8% during the 1st quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange’s stock worth $1,478,000 after acquiring an additional 1,761 shares during the period. Focus Partners Wealth lifted its holdings in shares of Coinbase Global by 9.9% during the 1st quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange’s stock worth $896,000 after acquiring an additional 467 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Coinbase Global during the 2nd quarter valued at about $285,000. Finally, Cerity Partners LLC boosted its position in shares of Coinbase Global by 8.6% during the 2nd quarter. Cerity Partners LLC now owns 17,694 shares of the cryptocurrency exchange’s stock valued at $6,203,000 after acquiring an additional 1,402 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Trending Headlines about Coinbase Global

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.

Coinbase Global Trading Up 2.2%

Shares of COIN stock opened at $163.58 on Friday. The company has a market capitalization of $43.10 billion, a P/E ratio of 61.50, a P/E/G ratio of 10.30 and a beta of 3.35. Coinbase Global, Inc. has a 12-month low of $139.18 and a 12-month high of $402.16. 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 firm has a 50-day moving average price of $164.00 and a 200 day moving average price of $181.97.

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

Insiders Place Their Bets

In other Coinbase Global news, Director Frederick R. Wilson sold 10,000 shares of Coinbase Global stock in a transaction on Monday, June 1st. The stock was sold at an average price of $181.54, for a total value of $1,815,400.00. Following the completion of the transaction, the director owned 30,000 shares in the company, valued at approximately $5,446,200. The trade was a 25.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $189.01, for a total value of $1,250,490.16. Following the completion of the transaction, the insider directly owned 517 shares in the company, valued at approximately $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. Insiders sold 30,627 shares of company stock valued at $5,327,841 over the last quarter. 16.66% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on COIN. Rosenblatt Securities reissued a “buy” rating and issued a $240.00 price target on shares of Coinbase Global in a research report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $220.00 price objective on shares of Coinbase Global in a report on Wednesday, June 17th. Piper Sandler lowered their price objective on Coinbase Global from $170.00 to $155.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. Wedbush set a $224.00 target price on Coinbase Global in a report on Friday, May 8th. Finally, Benchmark restated a “buy” rating on shares of Coinbase Global in a research report on Wednesday, July 22nd. Eighteen equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Coinbase Global has a consensus rating of “Hold” and an average price target of $233.47.

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.