CIBC Asset Management Inc increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 83.5% in the 4th quarter, HoldingsChannel reports. The fund owned 52,830 shares of the cryptocurrency exchange’s stock after acquiring an additional 24,045 shares during the period. CIBC Asset Management Inc’s holdings in Coinbase Global were worth $11,947,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of COIN. Norges Bank purchased a new stake in shares of Coinbase Global in the 4th quarter valued at $656,744,000. Vanguard Group Inc. raised its position in Coinbase Global by 8.3% during the third quarter. Vanguard Group Inc. now owns 26,216,793 shares of the cryptocurrency exchange’s stock worth $8,847,905,000 after acquiring an additional 2,007,930 shares during the period. Ruffer LLP acquired a new position in Coinbase Global during the fourth quarter worth about $166,515,000. Artisan Partners Limited Partnership acquired a new position in Coinbase Global during the third quarter worth about $224,663,000. Finally, Anatole Investment Management Ltd acquired a new stake in Coinbase Global during the second quarter worth about $98,698,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.
Coinbase Global Price Performance
Coinbase Global stock opened at $152.40 on Friday. The firm’s 50-day moving average is $186.06 and its two-hundred day moving average is $207.59. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.14. Coinbase Global, Inc. has a 12-month low of $139.36 and a 12-month high of $444.64. The stock has a market capitalization of $40.15 billion, a P/E ratio of 57.29, a P/E/G ratio of 5.68 and a beta of 3.32.
More Coinbase Global News
Here are the key news stories impacting Coinbase Global this week:
- Positive Sentiment: Coinbase is expanding into new products with its SpaceX pre-IPO perpetual futures launch for overseas users, a move that could open up a new, higher-margin trading category and support long-term growth. Article Title
- Positive Sentiment: Coinbase and Better Mortgage completed the first U.S. Bitcoin-backed home loan approved by Fannie Mae, highlighting Coinbase’s push into real-world crypto utility and financial infrastructure. Article Title
- Positive Sentiment: Coinbase CEO Brian Armstrong’s comments on U.S.-China competition reinforce the company’s long-term growth narrative and pro-innovation image. Article Title
- Neutral Sentiment: Coinbase remains widely watched by investors, with high web traffic and analyst attention keeping the stock in focus, though this alone does not change fundamentals. Article Title
- Negative Sentiment: Baird lowered its price target on Coinbase to $142 and flagged weak trading volumes, implying that crypto activity may stay soft for longer than bulls hoped. Article Title
- Negative Sentiment: Bitcoin’s continued selloff and broader crypto weakness are pressuring Coinbase shares by reducing expected trading volume and investor risk appetite. Article Title
- Negative Sentiment: A Coinbase director sold 10,000 shares in a pre-arranged transaction, which can add to cautious sentiment even if it was not a discretionary sale. Article Title
Insider Activity
In other Coinbase Global news, insider Lawrence J. Brock sold 6,616 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $189.01, for a total transaction of $1,250,490.16. Following the completion of the sale, the insider owned 517 shares in the company, valued at $97,718.17. The trade was a 92.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, CFO Alesia J. Haas sold 10,020 shares of the business’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $200.00, for a total transaction of $2,004,000.00. Following the transaction, the chief financial officer directly owned 377,201 shares of the company’s stock, valued at approximately $75,440,200. This trade represents a 2.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 38,546 shares of company stock worth $7,422,495. Company insiders own 16.66% of the company’s stock.
Analyst Ratings Changes
Several research analysts have weighed in on the stock. Citizens Jmp lowered their target price on shares of Coinbase Global from $400.00 to $355.00 and set a “market outperform” rating for the company in a research note on Friday, April 10th. Canaccord Genuity Group decreased their price target on shares of Coinbase Global from $400.00 to $300.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Rosenblatt Securities restated a “buy” rating and set a $240.00 price objective on shares of Coinbase Global in a research report on Wednesday, May 6th. Mizuho boosted their price objective on shares of Coinbase Global from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Finally, Benchmark lowered their target price on Coinbase Global from $267.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Nineteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Coinbase Global presently has an average rating of “Hold” and an average price target of $250.23.
View Our Latest Stock Analysis on COIN
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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