CTC Alternative Strategies Ltd. Raises Holdings in Coinbase Global, Inc. $COIN

CTC Alternative Strategies Ltd. grew its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 420.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,423 shares of the cryptocurrency exchange’s stock after buying an additional 12,461 shares during the period. Coinbase Global accounts for 6.1% of CTC Alternative Strategies Ltd.’s portfolio, making the stock its 2nd biggest position. CTC Alternative Strategies Ltd.’s holdings in Coinbase Global were worth $2,693,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Integrated Wealth Concepts LLC increased its position 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 valued at $365,000 after purchasing an additional 413 shares during the period. Empowered Funds LLC raised its holdings in Coinbase Global by 25.8% in the 1st quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange’s stock worth $1,478,000 after purchasing an additional 1,761 shares in the last quarter. Focus Partners Wealth lifted its position in shares of Coinbase Global by 9.9% in the 1st quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange’s stock worth $896,000 after purchasing an additional 467 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Coinbase Global in the 2nd quarter worth about $285,000. Finally, Cerity Partners LLC boosted its stake 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 purchasing an additional 1,402 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling

In related news, insider Paul Grewal sold 1,960 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $176.88, for a total transaction of $346,684.80. Following the completion of the transaction, the insider owned 84,753 shares of the company’s stock, valued at $14,991,110.64. This trade represents a 2.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,051 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $158.15, for a total value 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. In the last 90 days, insiders sold 30,627 shares of company stock valued at $5,327,841. 16.66% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on COIN shares. Wolfe Research set a $325.00 price target on shares of Coinbase Global in a research report on Thursday, July 9th. B. Riley Financial lowered their price objective on shares of Coinbase Global from $243.00 to $203.00 and set a “neutral” rating for the company in a report on Monday, June 1st. Rothschild & Co Redburn lifted their price objective on Coinbase Global from $254.00 to $263.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. UBS Group set a $155.00 target price on Coinbase Global in a report on Friday. Finally, BTIG Research decreased their target price on Coinbase Global from $260.00 to $240.00 and set a “buy” rating for the company in a research report on Friday. Eighteen equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Coinbase Global presently has an average rating of “Hold” and a consensus price target of $221.31.

Key Headlines Impacting Coinbase Global

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.

Coinbase Global Trading Down 10.6%

Shares of NASDAQ COIN opened at $146.26 on Friday. Coinbase Global, Inc. has a 1 year low of $139.11 and a 1 year high of $402.16. The stock has a market cap of $38.53 billion, a P/E ratio of -38.09, a price-to-earnings-growth ratio of 11.88 and a beta of 3.35. The firm has a 50-day moving average of $163.23 and a 200 day moving average of $181.72. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.14.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.92). The business had revenue of $1.22 billion for 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 revenue was down 18.5% on a year-over-year basis. During the same period in the previous year, the firm earned $5.14 EPS. As a group, sell-side analysts expect that Coinbase Global, Inc. will post 1.25 EPS for the current fiscal 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.