Capital International Investors Increases Stake in Coinbase Global, Inc. $COIN

Key Points

• Capital International Investors increased its stake in Coinbase by 44.4% in Q3 to 179,180 shares (about $60.5M), and other institutions like Vanguard also raised positions, leaving institutional ownership at roughly 68.84%.
• Coinbase launched Agentic Wallets for AI agents and saw a ~ $19.5M ETH transfer into Coinbase Prime, signaling rising machine-driven and institutional activity that could boost transaction and custody revenue.
• Despite these positives, Coinbase's recent quarter missed estimates on EPS and revenue, the stock trades at a premium (P/E ≈45.3) with an average analyst rating of "Hold," and insiders have been net sellers in recent months.

Capital International Investors lifted its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 44.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 179,180 shares of the cryptocurrency exchange's stock after acquiring an additional 55,094 shares during the quarter. Capital International Investors owned 0.07% of Coinbase Global worth $60,471,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Coinbase Global by 8.3% during the 3rd quarter. Vanguard Group Inc. now owns 26,216,793 shares of the cryptocurrency exchange's stock valued at $8,847,905,000 after purchasing an additional 2,007,930 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Coinbase Global during the 3rd quarter worth $14,491,000. FengHe Fund Management Pte. Ltd. increased its position in Coinbase Global by 119.1% during the 3rd quarter. FengHe Fund Management Pte. Ltd. now owns 69,900 shares of the cryptocurrency exchange's stock valued at $23,591,000 after buying an additional 38,000 shares in the last quarter. Liontrust Investment Partners LLP increased its position in Coinbase Global by 73.1% during the 2nd quarter. Liontrust Investment Partners LLP now owns 83,058 shares of the cryptocurrency exchange's stock valued at $29,111,000 after buying an additional 35,068 shares in the last quarter. Finally, Czech National Bank raised its stake in Coinbase Global by 11.0% in the third quarter. Czech National Bank now owns 57,439 shares of the cryptocurrency exchange's stock valued at $19,385,000 after buying an additional 5,707 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global News Summary

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

• Positive Sentiment: Coinbase launched "Agentic Wallets" for AI agents and highlighted rising volume in machine-driven crypto payments — a potential long-term growth driver for transaction and custody revenue. AI Agents Set to Dominate Crypto Payments: Armstrong and CZ Weigh In
• Positive Sentiment: A large on-chain player (Bitmine) moved ~$19.5M of ETH into Coinbase Prime — signaling continued institutional activity and custody usage on Coinbase's platform. That can support trading/custody volumes and fees. Bitmine (BMNR) Transfers $19.5M in ETH to Coinbase Prime Following Massive Accumulation Spree
• Neutral Sentiment: Coinbase's Chief Policy Officer published recommendations on stablecoin regulation — constructive for shaping future rules but regulatory outcomes remain uncertain and timing is unclear. Coinbase CPO Lists 5 Critical Errors US Congress Should Avoid In Stablecoin Regulation
• Neutral Sentiment: CEO Brian Armstrong reiterated bullish long-term views on Bitcoin (and commented on supply dynamics), which supports Coinbase’s core market narrative but doesn't change near-term revenue/earnings trajectory. Brian Armstrong Says Mining Next 1 Million Bitcoin Will Take Over 100 Years, Coinbase CEO Hails BTC As 'Decentralized, Inflation-Proof'
• Neutral Sentiment: Several retail/analysis pieces (Zacks, Yahoo) are re-examining whether COIN is a buy given its high multiple and watchlist interest; these discuss stock interest but do not provide new fundamental catalysts. COIN Lags Industry YTD, Trades at Premium: What Should Investors Do?
• Neutral Sentiment: Short-interest notices in the feed show inconsistent/zero values (NaN/0 shares) — data appears unreliable and doesn’t signal a clear short squeeze or build as reported. (Feed entries dated March 10–11.)
• Negative Sentiment: Analysts and articles note COIN is trailing the industry year-to-date and trading at a premium amid falling earnings estimates — this valuation and earnings risk is weighing on investor sentiment. COIN Lags Industry YTD, Trades at Premium: What Should Investors Do?
• Negative Sentiment: High-profile commentators (Jim Cramer) suggested investors might prefer buying bitcoin directly rather than COIN, which can divert capital away from the stock even as crypto adoption rises. Jim Cramer on Coinbase Global: “What I Would Suggest You Do Is Just Buy Bitcoin, It’s Cleaner”

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on COIN shares. Sanford C. Bernstein reissued an "outperform" rating and issued a $440.00 price target on shares of Coinbase Global in a report on Tuesday, January 6th. Rothschild & Co Redburn lowered their target price on shares of Coinbase Global from $288.00 to $277.00 in a research note on Monday. Monness Crespi & Hardt downgraded shares of Coinbase Global from a "hold" rating to a "sell" rating in a research report on Monday, February 23rd. Zacks Research downgraded shares of Coinbase Global from a "hold" rating to a "strong sell" rating in a research report on Tuesday, February 17th. Finally, HC Wainwright cut their price target on shares of Coinbase Global from $425.00 to $350.00 and set a "buy" rating on the stock in a research note on Wednesday, February 11th. Nineteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $270.51.

Coinbase Global Trading Up 1.1%

Shares of NASDAQ:COIN opened at $198.67 on Thursday. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.40. Coinbase Global, Inc. has a 52-week low of $139.36 and a 52-week high of $444.64. The stock has a market cap of $52.46 billion, a price-to-earnings ratio of 45.26, a PEG ratio of 3.46 and a beta of 3.70. The business has a 50-day moving average price of $200.02 and a 200-day moving average price of $266.71.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results on Thursday, February 12th. The cryptocurrency exchange reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.17). Coinbase Global had a net margin of 17.55% and a return on equity of 8.68%. The firm had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter in the prior year, the company earned $4.68 EPS. Coinbase Global's quarterly revenue was down 21.6% on a year-over-year basis. Equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In related news, CFO Alesia J. Haas sold 10,020 shares of the firm's stock in a transaction on Wednesday, March 4th. 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 transaction, the chief financial officer owned 397,171 shares of the company's stock, valued at $79,434,200. This trade represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 1,375 shares of the business's stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $250.27, for a total transaction of $344,121.25. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 476,920 shares of company stock worth $84,194,452. Company insiders own 16.56% of the company's stock.

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.

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