Mediolanum International Funds Ltd Has $5.92 Million Position in Coinbase Global, Inc. $COIN

Mediolanum International Funds Ltd lifted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 1,516.9% in the 1st quarter, HoldingsChannel reports. The fund owned 36,816 shares of the cryptocurrency exchange’s stock after purchasing an additional 34,539 shares during the period. Mediolanum International Funds Ltd’s holdings in Coinbase Global were worth $5,920,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in COIN. MV Capital Management Inc. bought a new stake in Coinbase Global in the 4th quarter worth about $27,000. Palisade Asset Management LLC purchased a new stake in Coinbase Global in the third quarter worth $29,000. Osbon Capital Management LLC bought a new stake in Coinbase Global in the 4th quarter valued at about $30,000. Archer Investment Corp raised its position in shares of Coinbase Global by 546.4% in the first quarter. Archer Investment Corp now owns 181 shares of the cryptocurrency exchange’s stock valued at $32,000 after purchasing an additional 153 shares during the period. Finally, Brooklands Fund Management Ltd bought a new stake in Coinbase Global during the 4th quarter valued at $34,000. Institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Oppenheimer lowered their price target on shares of Coinbase Global from $224.00 to $209.00 and set an “outperform” rating on the stock in a report on Thursday. Piper Sandler reduced their price objective on Coinbase Global from $170.00 to $155.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. B. Riley Financial decreased their target price on shares of Coinbase Global from $243.00 to $203.00 and set a “neutral” rating on the stock in a research report on Monday, June 1st. Wolfe Research set a $325.00 price target on Coinbase Global in a research note on Thursday, July 9th. Finally, Compass Point restated a “sell” rating on shares of Coinbase Global in a research report on Monday, June 1st. Eighteen investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $245.39.

Coinbase Global Stock Performance

Shares of COIN opened at $160.43 on Tuesday. 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 business’s 50 day moving average price is $169.28 and its 200-day moving average price is $186.24. Coinbase Global, Inc. has a 52 week low of $139.18 and a 52 week high of $436.38. The stock has a market cap of $42.27 billion, a P/E ratio of 60.31, a P/E/G ratio of 10.14 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55). Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the company posted $0.24 earnings per share. The company’s revenue was down 30.5% on a year-over-year basis. Equities research analysts anticipate that Coinbase Global, Inc. will post 1.41 earnings per share for the current fiscal year.

Coinbase Global News Roundup

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

• Positive Sentiment: Coinbase vice chair Ryan VanGrack said Senate negotiators added stronger consumer protections to the CLARITY Act, which could improve the odds of crypto market-structure legislation passing and create a more favorable regulatory backdrop for Coinbase. Article: Democrats added certain consumer protection rules to CLARITY: Coinbase exec
• Positive Sentiment: Multiple headlines featured Coinbase CEO Brian Armstrong defending Bitcoin’s long-term durability and dismissing concerns about miners shifting energy use to AI, which can reinforce Coinbase’s image as a leading crypto industry voice. Article: Coinbase CEO Brian Armstrong: Hash Power Doesn’t Determine Bitcoin’s Price
• Neutral Sentiment: Armstrong also said Bitcoin is likely to remain a long-term gauge of inflation fears and commented that stablecoins, not Bitcoin, have best fulfilled Satoshi’s payments vision; this keeps Coinbase in the center of the crypto narrative but is not a direct business catalyst. Article: Coinbase CEO Brian Armstrong Says Bitcoin Will ‘Mostly’ Be a Measure of Inflation Fears in the Long Term
• Neutral Sentiment: Coinbase shares also got a routine lift from broad market movement, with recent coverage noting the stock outperformed a down market session. Article: Coinbase Global, Inc. (COIN) Ascends While Market Falls: Some Facts to Note
• Negative Sentiment: Prediction markets suggested Coinbase’s second-quarter trading volume may come in below analyst expectations, renewing concern that weaker crypto activity could pressure transaction revenue. Article: Coinbase trading results may fall short of expectations, according to prediction markets
• Negative Sentiment: Another piece argued Coinbase’s Base strategy showed the company may be building for an older crypto cycle, hinting at product and strategic execution risks. Article: Coinbase’s big Base mistake offers an important lesson for the crypto industry

Insiders Place Their Bets

In other news, insider Lawrence J. Brock sold 6,616 shares of the firm’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 transaction, the insider directly owned 517 shares in the company, valued at $97,718.17. This trade represents a 92.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Grewal sold 1,960 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $176.88, for a total value of $346,684.80. Following the sale, the insider owned 84,753 shares of the company’s stock, valued at approximately $14,991,110.64. This trade represents a 2.26% 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. Insiders sold a total of 30,627 shares of company stock worth $5,327,841 in the last 90 days. 16.66% of the stock is currently owned by company insiders.

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.