Korea Investment CORP Lowers Holdings in Coinbase Global, Inc. $COIN

Key Points

• Korea Investment CORP cut its Coinbase stake by 29.0% in Q3 to 173,070 shares (about $58.4M), while overall institutional ownership remains high at roughly 68.8% with large positions from Vanguard and Norges Bank.
• Significant insider selling has occurred recently—CFO Alesia Haas sold 10,020 shares and CEO Brian Armstrong sold 40,000 shares—part of 479,670 insider shares sold over the past 90 days, which may raise governance concerns.
• Coinbase missed Q4 revenue and EPS estimates (revenue down 21.6% year‑over‑year), and analysts are mixed: the consensus rating is "Hold" with an average price target near $270.87, while the stock trades below its 200‑day moving average.

Korea Investment CORP lowered its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 29.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 173,070 shares of the cryptocurrency exchange's stock after selling 70,595 shares during the quarter. Korea Investment CORP owned approximately 0.06% of Coinbase Global worth $58,409,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Coinbase Global by 25.5% during the 2nd quarter. Vanguard Group Inc. now owns 24,208,863 shares of the cryptocurrency exchange's stock worth $8,484,964,000 after buying an additional 4,914,407 shares in the last quarter. Norges Bank purchased a new stake in Coinbase Global in the second quarter worth about $1,044,354,000. Geode Capital Management LLC grew its holdings in Coinbase Global by 46.1% during the 2nd quarter. Geode Capital Management LLC now owns 5,559,513 shares of the cryptocurrency exchange's stock worth $1,940,805,000 after acquiring an additional 1,755,146 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in Coinbase Global during the 3rd quarter valued at about $224,663,000. Finally, Baillie Gifford & Co. bought a new stake in shares of Coinbase Global in the 3rd quarter valued at about $198,249,000. 68.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Alesia J. Haas sold 10,020 shares of Coinbase Global stock in a transaction that occurred on Wednesday, March 4th. The stock was 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 directly owned 397,171 shares in the company, valued at approximately $79,434,200. This trade represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 40,000 shares of the business's stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $248.96, for a total value of $9,958,400.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 479,670 shares of company stock valued at $84,965,194 over the last ninety days. Company insiders own 16.56% of the company's stock.

Coinbase Global Trading Down 4.1%

NASDAQ COIN opened at $197.25 on Monday. Coinbase Global, Inc. has a 1 year low of $139.36 and a 1 year high of $444.64. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.34 and a quick ratio of 2.34. The company has a market capitalization of $52.09 billion, a PE ratio of 44.93, a P/E/G ratio of 3.06 and a beta of 3.70. The company has a fifty day moving average of $201.95 and a 200 day moving average of $268.77.

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

Coinbase Global News Roundup

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

• Positive Sentiment: High‑profile political support: CEO Brian Armstrong met privately with former President Trump, who publicly voiced backing for crypto-friendly legislation (the CLARITY Act). That endorsement helped spark a mid‑week rally in crypto prices and COIN shares. Article Title
• Positive Sentiment: Bullish analyst action: Goldman Sachs raised its COIN price target to $270 and kept a "buy" rating, giving institutional validation for upside if crypto volumes and regulation improve. Article Title
• Positive Sentiment: Institutional product expansion: Coinbase Prime now offers CFTC‑regulated futures and unified cross‑margin trading via Coinbase Financial Markets (leveraging Deribit capabilities), which should deepen institutional flow and fee opportunity. Article Title
• Neutral Sentiment: Crypto market tailwinds: Bitcoin rallied (ETF inflows and a short squeeze dynamic), lifting crypto‑linked equities and potentially increasing Coinbase trading volumes and custody demand — a near‑term positive for revenue if sustained. Article Title
• Negative Sentiment: New shareholder derivative lawsuit: A plaintiff filed a derivative suit naming CEO Brian Armstrong and other directors/executives (alleging oversight failures and disclosure issues). This raises potential legal costs, governance risk and investor uncertainty. Article Title
• Negative Sentiment: Insider selling / governance headlines: Coinbase CLO and other senior insiders sold shares ahead of or around the timing of legal actions; CFO Alesia Haas sold ~10,020 shares (filed with the SEC), which investors often view as a negative governance signal even when sales are routine. Article Title and Article Title
• Negative Sentiment: Regulatory uncertainty on stablecoins: Ongoing Senate fights over stablecoin yield rules have already pushed Coinbase to withdraw support for certain bill language. A stalled or unfavorable market‑structure bill could limit new product opportunities (e.g., high‑yield stablecoin programs). Article Title
• Negative Sentiment: Recent fundamentals: Coinbase missed Q4 revenue and EPS estimates (revenue down y/y, EPS miss), a reminder that elevated crypto prices don't immediately erase prior weakness in top‑line growth and analyst skepticism. (See company Q4 report and analyst commentary.)

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on COIN. Zacks Research lowered Coinbase Global from a "hold" rating to a "strong sell" rating in a report on Tuesday, February 17th. Bank of America raised Coinbase Global from a "neutral" rating to a "buy" rating and set a $340.00 price target for the company in a research report on Thursday, January 8th. Jefferies Financial Group decreased their price objective on Coinbase Global from $268.00 to $151.00 and set a "hold" rating for the company in a research note on Friday, February 13th. Cantor Fitzgerald cut their target price on Coinbase Global from $277.00 to $221.00 and set an "overweight" rating on the stock in a research note on Monday, February 9th. Finally, Deutsche Bank Aktiengesellschaft set a $250.00 price target on shares of Coinbase Global in a research report on Friday, February 13th. Nineteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $270.87.

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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