Quantinno Capital Management LP Has $33 Million Stock Holdings in Coinbase Global, Inc. $COIN

Quantinno Capital Management LP lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 17.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 188,995 shares of the cryptocurrency exchange’s stock after acquiring an additional 27,732 shares during the quarter. Quantinno Capital Management LP owned approximately 0.07% of Coinbase Global worth $33,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in COIN. Formidable Asset Management LLC lifted its position 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 during the period. L2 Asset Management LLC boosted its stake in shares of Coinbase Global by 5.0% in 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 increased its position in shares of Coinbase Global by 4.5% during the third quarter. Ancora Advisors LLC now owns 1,174 shares of the cryptocurrency exchange’s stock worth $396,000 after buying an additional 51 shares during the period. Fulton Bank N.A. increased its position in shares of Coinbase Global by 1.1% during the first 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 period. Finally, SRH Advisors LLC raised its stake in Coinbase Global by 10.1% during the fourth 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. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Trading Up 2.2%

NASDAQ:COIN opened at $163.58 on Friday. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44. The stock has a market capitalization 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 firm has a fifty day simple moving average of $164.00 and a two-hundred day simple moving average of $181.97. Coinbase Global, Inc. has a 12 month low of $139.18 and a 12 month high of $402.16.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results 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 company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.49 billion. Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The company’s revenue for the quarter was down 30.5% on a year-over-year basis. During the same period last year, the firm posted $0.24 earnings per share. Analysts expect that Coinbase Global, Inc. will post 1.42 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 6,616 shares of the stock in a transaction that occurred 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 transaction, the insider owned 517 shares in the company, valued at approximately $97,718.17. This represents a 92.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $159.09, for a total value of $1,590,900.00. Following the completion of the transaction, the director owned 20,000 shares in the company, valued at approximately $3,181,800. The trade was a 33.33% 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. Over the last quarter, insiders sold 30,627 shares of company stock valued at $5,327,841. 16.66% of the stock is currently owned by corporate insiders.

Key Stories Impacting 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.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Barclays restated an “underweight” rating on shares of Coinbase Global in a report on Friday. Raymond James Financial began coverage on Coinbase Global in a report on Wednesday, July 22nd. They set a “market perform” rating for the company. Zacks Research raised Coinbase Global from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Weiss Ratings upgraded Coinbase Global from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 29th. Finally, Rothschild & Co Redburn raised their target price on Coinbase Global from $254.00 to $263.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Eighteen equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $233.61.

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.