Caitong International Asset Management Co. Ltd Makes New $12.27 Million Investment in Coinbase Global, Inc. $COIN

Key Points

• Caitong International Asset Management initiated a new position in Coinbase Global, buying 54,243 shares worth about $12.27 million. The stake makes Coinbase about 3.0% of the firm’s portfolio and its fifth-largest holding.
• Institutional ownership remains strong, with hedge funds and other investors continuing to adjust positions and owning 68.84% of Coinbase shares overall. Several firms added new stakes or increased holdings during the quarter.
• Coinbase has seen notable insider selling and mixed business results: insiders sold 30,647 shares over the last 90 days, while the company recently missed earnings expectations and posted a 30.5% year-over-year revenue decline for the quarter.

Caitong International Asset Management Co. Ltd purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 54,243 shares of the cryptocurrency exchange's stock, valued at approximately $12,267,000. Coinbase Global makes up about 3.0% of Caitong International Asset Management Co. Ltd's investment portfolio, making the stock its 5th biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Reflection Asset Management acquired a new position in Coinbase Global in the fourth quarter valued at about $68,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Coinbase Global during the fourth quarter worth about $89,000. Kera Capital Partners Inc. raised its position in shares of Coinbase Global by 6.3% during the fourth quarter. Kera Capital Partners Inc. now owns 41,644 shares of the cryptocurrency exchange's stock worth $9,417,000 after purchasing an additional 2,477 shares during the period. MV Capital Management Inc. bought a new position in shares of Coinbase Global during the 4th quarter valued at about $27,000. Finally, Sunbelt Securities Inc. lifted its holdings in shares of Coinbase Global by 123.9% during the 4th quarter. Sunbelt Securities Inc. now owns 806 shares of the cryptocurrency exchange's stock valued at $182,000 after purchasing an additional 446 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.

Insider Buying and Selling at Coinbase Global

In related news, CAO Jennifer N. Jones sold 2,051 shares of the company's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $158.15, for a total transaction of $324,365.65. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lawrence J. Brock sold 6,616 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were 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 of the company's stock, valued at $97,718.17. This trade represents a 92.75% decrease in their ownership of the stock. 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 30,647 shares of company stock valued at $5,740,941 in the last ninety days. Insiders own 16.66% of the company's stock.

Coinbase Global Price Performance

Coinbase Global stock opened at $163.26 on Friday. The company has a market cap of $43.01 billion, a P/E ratio of 61.38, a price-to-earnings-growth ratio of 5.76 and a beta of 3.32. Coinbase Global, Inc. has a 1-year low of $139.36 and a 1-year high of $444.64. The company has a fifty day simple moving average of $184.28 and a 200 day simple moving average of $200.91. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($1.55). The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.49 billion. Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The firm's quarterly revenue was down 30.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 earnings per share. Research analysts anticipate that Coinbase Global, Inc. will post 1.74 earnings per share for the current fiscal year.

Key Stories Impacting Coinbase Global

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

• Positive Sentiment: ARK Invest continued buying Coinbase shares, and Jefferies said Coinbase’s push into tokenized equities and AI could expand its addressable market. Cathie Wood's Ark Invest Sells Robinhood Stock Into 8% Rally, Loads Up On Coinbase And Block
• Positive Sentiment: Coinbase launched tokenized stocks and an AI advisor, reinforcing its move beyond crypto trading into a broader “everything” platform. Coinbase (COIN) Launches Tokenized Stocks And AI Advisor Beyond Crypto
• Positive Sentiment: Coinbase Ventures invested in Multipli through the Base Ecosystem Fund, supporting growth in tokenized assets and institutional credit infrastructure. Coinbase Ventures Invests in Multipli
• Neutral Sentiment: Shareholders re-elected the board and ratified Deloitte as auditor, a routine governance update with limited direct trading impact. Coinbase Shareholders Reelect Board, Ratify Deloitte Auditor
• Neutral Sentiment: Bitcoin-related flows were said to be easing, with Coinbase exchange inflows from mid-sized investors hitting their lowest levels since early April, which may reduce near-term selling pressure on crypto markets. Bitcoin traders expect new lows but data cautions against overly bearish bias
• Negative Sentiment: Kentucky sued Kalshi and Polymarket over alleged illegal sports betting, also naming Coinbase-linked prediction market activity in the legal fight, adding regulatory overhang. Kentucky sues Kalshi, Polymarket, joining prediction market legal battle
• Negative Sentiment: Satori Finance, a Coinbase-backed project, said it will wind down operations due to weak market conditions, another sign of pressure in crypto-related venture activity. Coinbase-Backed Satori Finance Says It Will Wind Down Operations

Wall Street Analyst Weigh In

A number of research firms recently issued reports on COIN. KeyCorp reissued a "sector weight" rating on shares of Coinbase Global in a research note on Wednesday. Weiss Ratings upgraded shares of Coinbase Global from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, May 29th. The Goldman Sachs Group increased their price objective on shares of Coinbase Global from $226.00 to $228.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Wedbush set a $224.00 price objective on shares of Coinbase Global in a report on Friday, May 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $220.00 price objective on shares of Coinbase Global in a research report on Wednesday. Eighteen research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Coinbase Global has an average rating of "Hold" and an average target price of $250.65.

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.

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