BI Asset Management Fondsmaeglerselskab A S Boosts Stock Position in Coinbase Global, Inc. $COIN

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its Coinbase stake by 96% in the fourth quarter, buying an additional 22,817 shares and bringing its total holdings to 46,583 shares worth about $10.5 million.
• Institutional investors continue to dominate ownership of Coinbase, with firms like Vanguard, Geode Capital, and Norges Bank also adding to or initiating positions; altogether, 68.84% of the stock is held by hedge funds and other institutions.
• Analysts remain mixed on Coinbase after its latest earnings miss and softer revenue, with the stock recently trading at $152.40 and consensus sentiment at Hold with an average price target of $250.23.

BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 96.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,583 shares of the cryptocurrency exchange's stock after purchasing an additional 22,817 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Coinbase Global were worth $10,534,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Coinbase Global by 0.7% in 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 in the last quarter. Geode Capital Management LLC raised its stake in 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 worth $1,374,080,000 after buying an additional 189,080 shares in the last quarter. Norges Bank bought a new position in Coinbase Global in the fourth quarter worth about $656,744,000. Northern Trust Corp raised its stake in Coinbase Global by 5.9% in the third quarter. Northern Trust Corp now owns 1,959,871 shares of the cryptocurrency exchange's stock worth $661,437,000 after buying an additional 108,751 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Coinbase Global by 1.4% in the fourth quarter. Legal & General Group Plc now owns 1,210,082 shares of the cryptocurrency exchange's stock worth $273,648,000 after buying an additional 16,298 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Bank of America decreased their price target on shares of Coinbase Global from $288.00 to $234.00 in a research note on Thursday, April 2nd. President Capital raised their target price on shares of Coinbase Global from $236.00 to $264.00 and gave the company a "buy" rating in a research note on Tuesday, May 12th. BTIG Research decreased their target price on shares of Coinbase Global from $340.00 to $280.00 and set a "buy" rating for the company in a research note on Friday, February 13th. Zacks Research raised shares of Coinbase Global from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 14th. Finally, Wedbush set a $224.00 target price on shares of Coinbase Global in a research note on Friday, May 8th. Nineteen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Coinbase Global has an average rating of "Hold" and a consensus price target of $250.23.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $152.40 on Friday. Coinbase Global, Inc. has a fifty-two week low of $139.36 and a fifty-two week high of $444.64. The company has a 50 day simple moving average of $186.06 and a two-hundred day simple moving average of $207.59. The company has a market capitalization of $40.15 billion, a price-to-earnings ratio of 57.29, a P/E/G ratio of 5.28 and a beta of 3.32. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.14 and a current ratio of 2.14.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($1.55). The business had revenue of $1.41 billion for 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%. Coinbase Global's revenue for the quarter was down 30.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 EPS. Analysts expect that Coinbase Global, Inc. will post 1.77 EPS for the current fiscal year.

Coinbase Global News Summary

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

• Positive Sentiment: Coinbase is expanding into new products with its SpaceX pre-IPO perpetual futures launch for overseas users, a move that could open up a new, higher-margin trading category and support long-term growth. Article Title
• Positive Sentiment: Coinbase and Better Mortgage completed the first U.S. Bitcoin-backed home loan approved by Fannie Mae, highlighting Coinbase’s push into real-world crypto utility and financial infrastructure. Article Title
• Positive Sentiment: Coinbase CEO Brian Armstrong’s comments on U.S.-China competition reinforce the company’s long-term growth narrative and pro-innovation image. Article Title
• Neutral Sentiment: Coinbase remains widely watched by investors, with high web traffic and analyst attention keeping the stock in focus, though this alone does not change fundamentals. Article Title
• Negative Sentiment: Baird lowered its price target on Coinbase to $142 and flagged weak trading volumes, implying that crypto activity may stay soft for longer than bulls hoped. Article Title
• Negative Sentiment: Bitcoin’s continued selloff and broader crypto weakness are pressuring Coinbase shares by reducing expected trading volume and investor risk appetite. Article Title
• Negative Sentiment: A Coinbase director sold 10,000 shares in a pre-arranged transaction, which can add to cautious sentiment even if it was not a discretionary sale. Article Title

Insider Activity

In related news, CFO Alesia J. Haas sold 10,020 shares of the firm's stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $200.00, for a total transaction of $2,004,000.00. Following the completion of the sale, the chief financial officer owned 377,201 shares of the company's stock, valued at $75,440,200. This trade represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Grewal sold 1,960 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $176.88, for a total transaction of $346,684.80. Following the sale, the insider directly 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. 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 38,546 shares of company stock worth $7,422,495 over the last three months. 16.66% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.