Sei Investments Co. Grows Stock Holdings in Coinbase Global, Inc. $COIN

Sei Investments Co. raised its position in Coinbase Global, Inc. (NASDAQ:COIN) by 11.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,516 shares of the cryptocurrency exchange’s stock after acquiring an additional 5,479 shares during the quarter. Sei Investments Co.’s holdings in Coinbase Global were worth $9,515,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of COIN. Integrated Wealth Concepts LLC increased its holdings in Coinbase Global by 24.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange’s stock worth $365,000 after purchasing an additional 413 shares during the period. Empowered Funds LLC raised its stake in 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 in the last quarter. Focus Partners Wealth increased its position in shares of Coinbase Global by 9.9% during the first quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange’s stock worth $896,000 after purchasing an additional 467 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Coinbase Global in the second quarter valued at approximately $285,000. Finally, Cerity Partners LLC increased its holdings in shares of Coinbase Global by 8.6% in 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 during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

More Coinbase Global News

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.

Analyst Upgrades and Downgrades

Several analysts have commented on COIN shares. Monness Crespi & Hardt reaffirmed a “sell” rating on shares of Coinbase Global in a research note on Friday, June 5th. Canaccord Genuity Group reiterated a “buy” rating and issued a $300.00 price objective on shares of Coinbase Global in a research note on Friday. Zacks Research raised Coinbase Global from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. The Goldman Sachs Group reduced their price target on shares of Coinbase Global from $198.00 to $173.00 and set a “buy” rating on the stock in a report on Friday. Finally, Rosenblatt Securities restated a “buy” rating and issued a $240.00 price objective on shares of Coinbase Global in a research report on Tuesday, July 28th. Eighteen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $221.31.

Insider Buying and Selling

In other Coinbase Global news, CAO Jennifer N. Jones sold 2,051 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $158.15, for a total value of $324,365.65. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lawrence J. Brock sold 6,616 shares of the stock in a transaction dated Friday, May 22nd. The stock was 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 in the company, valued at approximately $97,718.17. This trade represents a 92.75% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 30,627 shares of company stock valued at $5,327,841. 16.66% of the stock is currently owned by insiders.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $146.26 on Friday. The company has a market capitalization of $38.53 billion, a price-to-earnings ratio of -38.09, a price-to-earnings-growth ratio of 10.62 and a beta of 3.35. Coinbase Global, Inc. has a twelve month low of $139.11 and a twelve month high of $402.16. The business has a 50 day simple moving average of $163.23 and a 200-day simple moving average of $181.72. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44.

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

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.