The Manufacturers Life Insurance Company Reduces Stock Holdings in Coinbase Global, Inc. $COIN

02 Aug 2026, 10:36 by Tristan Rich · The Markets Daily

The Manufacturers Life Insurance Company lowered its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 16.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 116,672 shares of the cryptocurrency exchange’s stock after selling 23,328 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Coinbase Global were worth $20,372,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Coinbase Global by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 26,400,836 shares of the cryptocurrency exchange’s stock worth $5,970,285,000 after buying an additional 184,043 shares during the period. Geode Capital Management LLC raised its stake in shares of Coinbase Global by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 6,098,062 shares of the cryptocurrency exchange’s stock valued at $1,374,080,000 after acquiring an additional 189,080 shares during the period. Paradigm Operations LP raised its stake in shares of Coinbase Global by 3.3% in the fourth quarter. Paradigm Operations LP now owns 4,262,458 shares of the cryptocurrency exchange’s stock valued at $963,912,000 after acquiring an additional 134,425 shares during the period. Norges Bank bought a new stake in shares of Coinbase Global in the 4th quarter worth about $656,744,000. Finally, ARK Investment Management LLC lifted its holdings in shares of Coinbase Global by 6.1% in the 4th quarter. ARK Investment Management LLC now owns 2,541,928 shares of the cryptocurrency exchange’s stock worth $574,832,000 after acquiring an additional 146,388 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Down 10.6%

Shares of 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 company has a 50-day moving average of $163.23 and a 200 day moving average of $181.72. The firm has a market capitalization of $38.53 billion, a price-to-earnings ratio of -38.09, a PEG ratio of 10.62 and a beta of 3.35. 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 – Get Free Report) last issued its earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.92). The company 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%.Coinbase Global’s revenue was down 18.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.14 earnings per share. On average, research analysts expect that Coinbase Global, Inc. will post 1.25 EPS 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.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Citigroup reiterated a “market outperform” rating on shares of Coinbase Global in a report on Friday. Piper Sandler dropped their target price on Coinbase Global from $155.00 to $146.00 and set a “neutral” rating for the company in a research report on Friday. Wolfe Research set a $325.00 target price on Coinbase Global in a research note on Thursday, July 9th. Benchmark reduced their price target on Coinbase Global from $270.00 to $230.00 and set a “buy” rating on the stock in a report on Friday. Finally, Zacks Research raised Coinbase Global from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Eighteen 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $221.31.

View Our Latest Report on Coinbase Global

Insider Transactions at Coinbase Global

In related 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 of the company’s stock, valued at $97,718.17. This represents a 92.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,051 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $158.15, for a total value of $324,365.65. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 30,627 shares of company stock worth $5,327,841 over the last three months. Company insiders own 16.66% of the company’s stock.

About Coinbase Global

(Free Report)

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.