Coinbase Global, Inc. $COIN Holdings Increased by Aquatic Capital Management LLC

Key Points

• Aquatic Capital Management LLC increased its stake in Coinbase by 139.7% during Q3 to 176,605 shares (about $59.6M), making COIN its 7th largest holding, and institutional investors now own 68.84% of the company.
• CFO Alesia J. Haas sold 364,600 shares for roughly $56.5M (a 47.55% cut to her stake), and insiders have sold 476,920 shares (~$84.2M) over the past 90 days, signaling notable insider selling pressure.
• Coinbase's latest quarter missed expectations — EPS $0.66 vs. $0.83 expected and revenue $1.78B vs. $1.86B — while analysts are mixed, with an average rating of "Hold" and an average target price of $270.51.

Aquatic Capital Management LLC increased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 139.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,605 shares of the cryptocurrency exchange's stock after acquiring an additional 102,936 shares during the period. Coinbase Global makes up 1.1% of Aquatic Capital Management LLC's investment portfolio, making the stock its 7th largest holding. Aquatic Capital Management LLC owned about 0.07% of Coinbase Global worth $59,602,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Aristotle Atlantic Partners LLC bought a new position in shares of Coinbase Global during the third quarter valued at approximately $1,229,000. Arkos Global Advisors lifted its holdings in shares of Coinbase Global by 64.0% during the third quarter. Arkos Global Advisors now owns 2,344 shares of the cryptocurrency exchange's stock valued at $791,000 after purchasing an additional 915 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Coinbase Global by 5.6% in the 3rd quarter. Alliancebernstein L.P. now owns 255,489 shares of the cryptocurrency exchange's stock worth $86,225,000 after purchasing an additional 13,605 shares in the last quarter. Ancora Advisors LLC boosted its position in shares of Coinbase Global by 4.5% in the 3rd quarter. Ancora Advisors LLC now owns 1,174 shares of the cryptocurrency exchange's stock worth $396,000 after purchasing an additional 51 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Coinbase Global in the 3rd quarter worth approximately $1,426,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Key Coinbase Global News

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

• Positive Sentiment: Bitcoin’s rally and stronger spot/ETF flows are driving trading activity and a Coinbase price premium, which should help COIN’s transaction revenue. Key Bitcoin price levels to watch as BTC nears new monthly highs
• Positive Sentiment: Short interest in COIN has reportedly doubled this year, raising the potential for a short squeeze if bullish flows continue — a technical/positioning tailwind for the stock. Coinbase Short Interest Doubles In 2026: S3 Data Shows Elevated Potential For Short Squeeze
• Positive Sentiment: Product expansion: Coinbase launched regulated crypto and index futures across 26 European countries, widening its addressable market and revenue opportunities outside the U.S. COIN Broadens Reach With Europe Futures: Is it Making a Global Push?
• Neutral Sentiment: Stablecoin adoption and TradFi pilots (Aon’s pilot) are expanding the payments use case; Coinbase is participating in some pilots, which could broaden non-trading revenue but also elevates competition from stablecoin issuers like Circle. Crypto Biz: Circle stock defies Wall Street and digital asset selloff
• Neutral Sentiment: Regulatory clarity moves: the CFTC’s new prediction market rules affect Coinbase’s product set and open a 45‑day comment period — could increase compliance costs but also reduce legal uncertainty if finalized. CFTC Unveils Prediction Market Regulations Impacting Kalshi, Polymarket, and Coinbase
• Neutral Sentiment: Company messaging: Coinbase executives publicly denied allegations they lobbied against a Bitcoin de minimis tax exemption — reduces rumor-driven regulatory uncertainty but leaves the broader policy debate unresolved. Coinbase execs deny lobbying against Bitcoin de minimis tax exemption
• Negative Sentiment: Negative headlines and positioning risks: media coverage highlights insider share sales and commentary (e.g., Jim Cramer recommending Bitcoin over COIN), which can weigh on sentiment and valuation multiples. Coinbase (COIN) Stock Faces Mounting Pressure as Cramer Recommends Bitcoin Over Shares
• Negative Sentiment: Ongoing controversy about alleged lobbying around BTC tax rules (despite denials) keeps regulatory and reputational risk on investors’ radars. Is Coinbase Sabotaging Bitcoin De Minimis Tax Exemption In Favor Of Stablecoins?

Wall Street Analyst Weigh In

A number of research analysts have issued reports on COIN shares. Bank of America upgraded Coinbase Global from a "neutral" rating to a "buy" rating and set a $340.00 price objective for the company in a research note on Thursday, January 8th. Raymond James Financial reissued a "market perform" rating on shares of Coinbase Global in a research note on Thursday, January 8th. JPMorgan Chase & Co. reduced their price target on Coinbase Global from $399.00 to $290.00 and set an "overweight" rating for the company in a report on Tuesday, February 10th. Compass Point lowered their price target on Coinbase Global from $190.00 to $140.00 and set a "sell" rating for the company in a research report on Friday, February 20th. Finally, Barclays cut their price objective on shares of Coinbase Global from $258.00 to $148.00 and set an "equal weight" rating on the stock in a research report on Friday, February 13th. Nineteen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $270.51.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 364,600 shares of the firm's stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $154.95, for a total value of $56,494,770.00. Following the transaction, the chief financial officer directly owned 402,165 shares of the company's stock, valued at approximately $62,315,466.75. This trade represents a 47.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 2,750 shares of the firm's stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $260.09, for a total transaction of $715,247.50. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 476,920 shares of company stock valued at $84,194,452. 16.56% of the stock is owned by company insiders.

Coinbase Global Price Performance

COIN opened at $195.53 on Friday. The company's 50-day simple moving average is $198.54 and its two-hundred day simple moving average is $265.14. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.34 and a current ratio of 2.34. The stock has a market capitalization of $51.64 billion, a P/E ratio of 44.54, a P/E/G ratio of 3.44 and a beta of 3.70. Coinbase Global, Inc. has a 52-week low of $139.36 and a 52-week high of $444.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data on Thursday, February 12th. The cryptocurrency exchange reported $0.66 earnings per share 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 company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the company earned $4.68 EPS. The firm's revenue for the quarter was down 21.6% on a year-over-year basis. As a group, analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Coinbase Global Company 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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