Pictet Asset Management Holding SA Cuts Stock Position in Coinbase Global, Inc. $COIN

Pictet Asset Management Holding SA lessened its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 3.8% in the first quarter, Holdings Channel reports. The institutional investor owned 91,285 shares of the cryptocurrency exchange’s stock after selling 3,595 shares during the period. Pictet Asset Management Holding SA’s holdings in Coinbase Global were worth $15,939,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Palisade Asset Management LLC bought a new stake in Coinbase Global in the third quarter worth $29,000. Foster Dykema Cabot & Partners LLC bought a new position in shares of Coinbase Global during the third quarter valued at $35,000. MV Capital Management Inc. purchased a new position in shares of Coinbase Global in the 4th quarter worth about $27,000. Osbon Capital Management LLC bought a new position in Coinbase Global in the 4th quarter worth about $30,000. Finally, JPL Wealth Management LLC bought a new position in Coinbase Global in the 3rd quarter worth about $49,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $165.48 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.14 and a current ratio of 2.14. The firm has a market cap of $43.60 billion, a price-to-earnings ratio of 62.21, a price-to-earnings-growth ratio of 5.62 and a beta of 3.35. The business has a 50-day simple moving average of $177.92 and a two-hundred day simple moving average of $193.03. Coinbase Global, Inc. has a fifty-two week low of $139.18 and a fifty-two week high of $444.64.

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

Insider Activity at Coinbase Global

In other Coinbase Global news, CAO Jennifer N. Jones sold 2,051 shares of Coinbase Global stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $158.15, for a total value of $324,365.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Grewal sold 1,960 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $176.88, for a total transaction of $346,684.80. Following the sale, the insider owned 84,753 shares of the company’s stock, valued at approximately $14,991,110.64. This 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. Insiders have sold 30,647 shares of company stock valued at $5,740,941 over the last quarter. 16.66% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on COIN shares. President Capital raised their price objective on shares of Coinbase Global from $236.00 to $264.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. KeyCorp reiterated a “sector weight” rating on shares of Coinbase Global in a research note on Wednesday, June 17th. Rothschild & Co Redburn increased their price target on shares of Coinbase Global from $254.00 to $263.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Needham & Company LLC reissued a “buy” rating and set a $220.00 price target on shares of Coinbase Global in a research report on Wednesday, June 17th. Finally, B. Riley Financial decreased their price objective on shares of Coinbase Global from $243.00 to $203.00 and set a “neutral” rating for the company in a report on Monday, June 1st. Eighteen equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $250.65.

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

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.