Pictet Asset Management Holding SA Sells 3,595 Shares of Coinbase Global, Inc. $COIN

Pictet Asset Management Holding SA lessened its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 3.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 91,285 shares of the cryptocurrency exchange’s stock after selling 3,595 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Coinbase Global were worth $15,939,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in COIN. North Dakota State Investment Board purchased a new position in Coinbase Global in the 4th quarter worth approximately $1,626,000. Mizuho Markets Cayman LP purchased a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $33,921,000. Harvest Portfolios Group Inc. grew its holdings in shares of Coinbase Global by 21.7% in the fourth quarter. Harvest Portfolios Group Inc. now owns 376,578 shares of the cryptocurrency exchange’s stock worth $85,159,000 after purchasing an additional 67,082 shares during the last quarter. Axxcess Wealth Management LLC grew its holdings in shares of Coinbase Global by 303.6% in the fourth quarter. Axxcess Wealth Management LLC now owns 20,316 shares of the cryptocurrency exchange’s stock worth $4,594,000 after purchasing an additional 15,282 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Coinbase Global by 1.4% in the fourth quarter. Legal & General Group Plc now owns 1,210,082 shares of the cryptocurrency exchange’s stock worth $273,648,000 after buying an additional 16,298 shares during the period. 68.84% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Jennifer N. Jones sold 2,051 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $158.15, for a total value of $324,365.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lawrence J. Brock sold 6,616 shares of Coinbase Global stock in a transaction dated 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 transaction, the insider directly owned 517 shares of the company’s stock, valued at approximately $97,718.17. This trade represents a 92.75% decrease in their ownership of the stock. 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. In the last quarter, insiders have sold 30,647 shares of company stock worth $5,740,941. 16.66% of the stock is currently owned by corporate insiders.

Key Coinbase Global News

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

• Positive Sentiment: Coinbase is part of the newly launched Global Stablecoin Initiative/Open USD effort alongside Visa, Mastercard, and BNY, which could expand its role in mainstream digital payments and stablecoin infrastructure. Article Title
• Positive Sentiment: Crypto-linked stocks, including Coinbase, are participating in a broader bounce across the sector, helping sentiment after weakness in recent weeks. Article Title
• Neutral Sentiment: Coinbase Ventures was named as a backer of Venice AI’s new funding round, reinforcing Coinbase’s ongoing exposure to venture investing themes, though the direct stock impact appears limited. Article Title
• Neutral Sentiment: Coinbase CEO Brian Armstrong made headlines with comments on U.S. debt, fiscal safeguards, and AI/cybersecurity, but these were mostly policy and opinion pieces rather than direct business updates. Article Title
• Negative Sentiment: One analysis argued Coinbase is “further losing its grip,” reflecting concern that competitive pressure and shifting stablecoin economics could weigh on long-term growth. Article Title
• Negative Sentiment: Another report noted the Coinbase Premium has stayed negative, a sign that U.S. Bitcoin demand remains softer than on global venues and may temper trading enthusiasm. Article Title

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. BTIG Research reiterated a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a report on Wednesday, June 17th. Bank of America cut their price target on shares of Coinbase Global from $288.00 to $234.00 in a report on Thursday, April 2nd. Mizuho boosted their price objective on shares of Coinbase Global from $170.00 to $200.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Barclays reaffirmed an “underweight” rating on shares of Coinbase Global in a research note on Wednesday, June 17th. Finally, Wedbush set a $224.00 target price on shares of Coinbase Global in a report on Friday, May 8th. Eighteen analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Coinbase Global has a consensus rating of “Hold” and a consensus price target of $250.65.

Coinbase Global Trading Up 3.9%

COIN opened at $165.48 on Friday. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.44. Coinbase Global, Inc. has a 52 week low of $139.18 and a 52 week high of $444.64. The stock has a market cap of $43.60 billion, a PE ratio of 62.21, a PEG ratio of 5.62 and a beta of 3.35. The business has a 50 day moving average of $177.92 and a 200-day moving average of $193.03.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($1.55). The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.Coinbase Global’s revenue for the quarter was down 30.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 earnings per share. Equities research analysts predict that Coinbase Global, Inc. will post 1.74 earnings per share for the current fiscal year.

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.