Ruffer LLP Takes $166.52 Million Position in Coinbase Global, Inc. $COIN

Key Points

• Ruffer LLP bought a new stake of 735,190 shares (≈$166.52 million) in Coinbase, making it Ruffer’s second-largest holding at about 7.6% of the fund.
• CFO Alesia J. Haas sold 364,600 shares for roughly $56.5 million, reducing her position by about 47.6% and contributing to notable insider selling activity.
• Regulatory risk: New York Attorney General Letitia James sued Coinbase over alleged illegal prediction‑market operations, seeking multibillion‑dollar penalties and creating material legal uncertainty.

Ruffer LLP purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 735,190 shares of the cryptocurrency exchange's stock, valued at approximately $166,515,000. Coinbase Global makes up approximately 7.6% of Ruffer LLP's holdings, making the stock its 2nd biggest holding. Ruffer LLP owned 0.27% of Coinbase Global as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. REAP Financial Group LLC purchased a new position in Coinbase Global in the third quarter valued at about $25,000. Palisade Asset Management LLC purchased a new position in Coinbase Global in the third quarter valued at about $29,000. Salomon & Ludwin LLC grew its stake in Coinbase Global by 4,400.0% in the third quarter. Salomon & Ludwin LLC now owns 90 shares of the cryptocurrency exchange's stock valued at $30,000 after purchasing an additional 88 shares in the last quarter. Foster Dykema Cabot & Partners LLC purchased a new position in Coinbase Global in the third quarter valued at about $35,000. Finally, Cloud Capital Management LLC purchased a new position in Coinbase Global in the third quarter valued at about $36,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Insider Buying and Selling at Coinbase Global

In related news, CFO Alesia J. Haas sold 364,600 shares of the business's stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $154.95, for a total transaction of $56,494,770.00. Following the completion of the transaction, the chief financial officer owned 402,165 shares of the company's stock, valued at approximately $62,315,466.75. The trade was a 47.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 394,590 shares of company stock worth $62,508,690. 16.56% of the stock is currently owned by insiders.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $195.95 on Wednesday. Coinbase Global, Inc. has a fifty-two week low of $139.36 and a fifty-two week high of $444.64. The business has a 50-day moving average of $182.24 and a two-hundred day moving average of $238.48. The stock has a market capitalization of $51.75 billion, a P/E ratio of 44.64, a P/E/G ratio of 4.72 and a beta of 3.60. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.34 and a quick ratio of 2.34.

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 analysts' consensus estimates of $0.83 by ($0.17). Coinbase Global had a return on equity of 8.68% and a net margin of 17.55%.The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the firm earned $4.68 EPS. Coinbase Global's quarterly revenue was down 21.6% on a year-over-year basis. On average, equities research analysts predict that Coinbase Global, Inc. will post 2.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

COIN has been the topic of a number of recent research reports. HC Wainwright lowered their target price on Coinbase Global from $425.00 to $350.00 and set a "buy" rating on the stock in a research note on Wednesday, February 11th. China Renaissance lowered their target price on Coinbase Global from $301.50 to $223.20 and set a "buy" rating on the stock in a research note on Monday, February 23rd. Barclays downgraded Coinbase Global from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $148.00 to $140.00 in a research note on Wednesday, April 8th. Needham & Company LLC lowered their target price on Coinbase Global from $290.00 to $230.00 and set a "buy" rating on the stock in a research note on Friday, February 13th. Finally, Jefferies Financial Group boosted their target price on Coinbase Global from $151.00 to $181.00 and gave the company a "hold" rating in a research note on Thursday, April 9th. Nineteen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $262.07.

Key Coinbase Global News

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

• Positive Sentiment: Launched AI agent/payments initiatives (x402 / Agentic.market) that could create new B2B revenue and broaden Coinbase’s payments stack for autonomous commerce. Coinbase’s AI payments protocol x402 launches app store for AI agents
• Positive Sentiment: Expanded Morpho‑powered USDC loans into the U.K., offering up to $5M per borrower — a push to grow non‑trading revenue (lending/credit) and international product reach. Coinbase rolls out UK crypto-backed loans as FCA shapes rules
• Positive Sentiment: Cantor Fitzgerald raised its price target (from $221 to $250), signaling some street conviction on upside from product/volume recovery. Price target raise coverage
• Neutral Sentiment: On‑chain flow: Ripple moved ~75M XRP (~$108M) to Coinbase — on‑chain analysts see this as liquidity/ETF positioning rather than an immediate sell‑off, so impact is ambiguous for trading revenue. XRP Transfer Alert: Ripple Sends $108M to Coinbase – What It Really Means
• Neutral Sentiment: Coinbase’s independent quantum advisory board published guidance urging proactive cryptography upgrades — important long‑term security work but not an immediate revenue catalyst. Quantum advisory board paper
• Neutral Sentiment: Market/flow signals ahead of Q1: analysts flag softer spot activity and options/volume patterns — raises uncertainty about near‑term trading fee trends into the May earnings release. Softer crypto‑activity signals analysis
• Negative Sentiment: New York AG Letitia James sued Coinbase (and Gemini) alleging prediction‑market operations are illegal gambling — the complaint seeks multibillion‑dollar penalties and wiped several billion off Coinbase’s market value, creating major regulatory and legal risk. New York AG Sues Coinbase, Gemini Over Prediction Markets
• Negative Sentiment: Grayscale moved HYPE ETF custody to Anchorage, indicating a loss of a custody relationship and potential pressure on institutional custody revenue and client concentration. Grayscale replaces Coinbase with Anchorage for HYPE ETF custody
• Negative Sentiment: CFO Alesia Haas sold ~10,020 shares under a pre‑arranged 10b5‑1 plan — disclosed insider selling that, despite the plan, can add to near‑term downside sentiment. CFO insider sale filing

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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