Kemnay Advisory Services Inc. Purchases 89,910 Shares of Coinbase Global, Inc. $COIN

Key Points

• Kemnay Advisory Services Inc. increased its Coinbase stake by 43.8% in the fourth quarter, buying 89,910 additional shares and bringing its total holdings to 295,210 shares worth about $66.8 million.
• Coinbase remains heavily owned by institutions, with hedge funds and other institutional investors controlling 68.84% of the company’s stock. Several funds also made small additions to their positions during the period.
• Analysts remain mixed on COIN: the stock has a Hold consensus rating and a consensus price target of $250.23, even as the company continues to draw attention for new products like AI trading tools, stablecoin payments, and tokenized assets.

Kemnay Advisory Services Inc. boosted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 43.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 295,210 shares of the cryptocurrency exchange's stock after buying an additional 89,910 shares during the quarter. Coinbase Global makes up 10.1% of Kemnay Advisory Services Inc.'s holdings, making the stock its 3rd biggest position. Kemnay Advisory Services Inc. owned about 0.11% of Coinbase Global worth $66,759,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. West Family Investments Inc. grew its position in Coinbase Global by 3.3% during the third quarter. West Family Investments Inc. now owns 1,029 shares of the cryptocurrency exchange's stock valued at $347,000 after buying an additional 33 shares during the period. GW&K Investment Management LLC grew its position in Coinbase Global by 32.2% during the third quarter. GW&K Investment Management LLC now owns 152 shares of the cryptocurrency exchange's stock valued at $51,000 after buying an additional 37 shares during the period. Bridgewater Advisors Inc. grew its position in Coinbase Global by 1.2% during the third quarter. Bridgewater Advisors Inc. now owns 3,307 shares of the cryptocurrency exchange's stock valued at $1,116,000 after buying an additional 38 shares during the period. Formidable Asset Management LLC grew its position in Coinbase Global by 2.2% during the fourth quarter. Formidable Asset Management LLC now owns 2,074 shares of the cryptocurrency exchange's stock valued at $469,000 after buying an additional 44 shares during the period. Finally, L2 Asset Management LLC grew its position in Coinbase Global by 5.0% during the third quarter. L2 Asset Management LLC now owns 965 shares of the cryptocurrency exchange's stock valued at $326,000 after buying an additional 46 shares during the period. Institutional investors and hedge funds own 68.84% of the company's stock.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: Coinbase teamed up with MassPay to streamline global payments using stablecoins, highlighting growing real-world use cases for its crypto infrastructure. Coinbase Teams Up with MassPay to Streamline Global Payments Using Stablecoins
• Positive Sentiment: The company launched AI tools and “agentic trading” features that can provide investment ideas and execute trades within user-defined limits, which could broaden engagement and trading activity. Coinbase is launching AI tools that give investment advice and make trades on your behalf
• Positive Sentiment: Coinbase expanded into prediction markets and derivatives, and added more tokenized equity offerings, signaling a faster move into higher-growth trading products. Coinbase Expands Into Agentic Trading, New Prediction Markets Contracts And Derivatives
• Positive Sentiment: Coinbase is allowing users to transfer stock portfolios onto its platform, another sign it is trying to become a full-service brokerage-like venue rather than only a crypto exchange. Coinbase lets users transfer stock portfolios as exchange expands beyond crypto
• Positive Sentiment: Coverage around tokenized U.S. stocks suggests investor enthusiasm for Coinbase’s push into on-chain equities, which could create a new revenue stream and draw more attention to the stock. Coinbase Launches Real Tokenized Stocks, Robinhood, Kraken Race To Follow
• Neutral Sentiment: Brian Armstrong’s comments on tokenized stocks and opening U.S. equity access to global investors keep Coinbase in the spotlight, but are more explanatory than immediately material. Coinbase CEO on tokenized stock launch: Opens US equity access to global investors
• Neutral Sentiment: Several articles noted that COIN is a trending stock and that Bitcoin sentiment has improved, but these are mostly sentiment/market-interest indicators rather than direct catalysts. Coinbase Global, Inc. (COIN) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Broader commentary still points to valuation concerns and earlier weakness in Coinbase shares, which may limit upside if the new product launches do not quickly translate into revenue. Coinbase (COIN) Stock Valuation After AI Agents Launch And New Trust Charter Approval

Analysts Set New Price Targets

COIN has been the topic of several analyst reports. Compass Point restated a "sell" rating on shares of Coinbase Global in a research report on Monday, June 1st. Barclays decreased their price objective on shares of Coinbase Global from $140.00 to $107.00 and set an "underweight" rating on the stock in a report on Friday, May 8th. Rosenblatt Securities reaffirmed a "buy" rating and set a $240.00 price objective on shares of Coinbase Global in a report on Wednesday, May 6th. President Capital increased their price objective on shares of Coinbase Global from $236.00 to $264.00 and gave the company a "buy" rating in a report on Tuesday, May 12th. Finally, Oppenheimer decreased their price objective on shares of Coinbase Global from $227.00 to $224.00 in a report on Friday, May 8th. Eighteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $250.23.

Coinbase Global Stock Performance

COIN opened at $169.27 on Wednesday. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.44. The company has a market cap of $44.60 billion, a price-to-earnings ratio of 63.64, a PEG ratio of 5.40 and a beta of 3.32. Coinbase Global, Inc. has a 52-week low of $139.36 and a 52-week high of $444.64. The firm's fifty day simple moving average is $184.95 and its two-hundred day simple moving average is $202.67.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) EPS for the quarter, missing analysts' consensus estimates 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%. Coinbase Global's quarterly revenue was down 30.5% on a year-over-year basis. During the same quarter last year, the company earned $0.24 earnings per share. Equities analysts anticipate that Coinbase Global, Inc. will post 1.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Lawrence J. Brock sold 6,616 shares of the stock in a transaction dated 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 completion of the sale, the insider directly owned 517 shares in the company, valued at $97,718.17. This represents a 92.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Grewal sold 1,960 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $176.88, for a total transaction of $346,684.80. Following the completion of the sale, the insider owned 84,753 shares of the company's stock, valued at $14,991,110.64. This trade represents a 2.26% 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. Over the last three months, insiders sold 30,647 shares of company stock valued at $5,740,941. Corporate insiders own 16.66% of the company's stock.

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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