Janus Henderson Group PLC Has $28.77 Million Stock Holdings in Coinbase Global, Inc. $COIN

Janus Henderson Group PLC decreased its position in Coinbase Global, Inc. (NASDAQ:COIN) by 70.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 164,751 shares of the cryptocurrency exchange’s stock after selling 384,553 shares during the period. Janus Henderson Group PLC’s holdings in Coinbase Global were worth $28,767,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Coinbase Global during the fourth quarter worth $656,744,000. Capital World Investors increased its stake in Coinbase Global by 847.2% in the 4th quarter. Capital World Investors now owns 1,536,534 shares of the cryptocurrency exchange’s stock valued at $347,472,000 after buying an additional 1,374,318 shares during the last quarter. Ruffer LLP acquired a new stake in Coinbase Global in the 4th quarter valued at $166,515,000. Southpoint Capital Advisors LP bought a new stake in Coinbase Global during the 1st quarter worth about $104,766,000. Finally, Cria Inc. bought a new stake in Coinbase Global during the 4th quarter worth about $111,184,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Price Performance

NASDAQ:COIN opened at $146.26 on Monday. Coinbase Global, Inc. has a one year low of $139.11 and a one year high of $402.16. The company has a market cap of $38.53 billion, a P/E ratio of -38.09, a P/E/G ratio of 10.62 and a beta of 3.36. The firm’s fifty day moving average price is $163.23 and its two-hundred day moving average price is $181.29. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.42 and a quick ratio of 2.42.

Coinbase Global (NASDAQ:COIN) last posted its 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 company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.29 billion. Coinbase Global had a positive return on equity of 3.12% and a negative net margin of 15.72%.The business’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.14 EPS. Equities analysts expect that Coinbase Global, Inc. will post 1.25 earnings per share for the current year.

Key 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.

Insider Activity at Coinbase Global

In other news, insider Lawrence J. Brock sold 6,616 shares of the company’s 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 of the company’s stock, valued at approximately $97,718.17. This represents a 92.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $176.88, for a total value of $346,684.80. Following the transaction, the insider owned 84,753 shares in the company, valued at approximately $14,991,110.64. This trade represents a 2.26% 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 in the last 90 days. Insiders own 16.66% of the company’s stock.

Analyst Ratings Changes

COIN has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Coinbase Global from $252.00 to $290.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 target price on shares of Coinbase Global in a research note on Tuesday, July 28th. BTIG Research reduced their price target on Coinbase Global from $260.00 to $240.00 and set a “buy” rating for the company in a report on Friday. Weiss Ratings downgraded Coinbase Global from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday. Finally, Benchmark dropped their price objective on Coinbase Global from $270.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday. Eighteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $221.31.

Coinbase Global 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.