Bank of Nova Scotia Decreases Position in Coinbase Global, Inc. $COIN

Bank of Nova Scotia cut its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 78.6% during the 1st quarter, Holdings Channel reports. The firm owned 44,920 shares of the cryptocurrency exchange’s stock after selling 165,340 shares during the period. Bank of Nova Scotia’s holdings in Coinbase Global were worth $7,843,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Coinbase Global by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 26,400,836 shares of the cryptocurrency exchange’s stock worth $5,970,285,000 after acquiring an additional 184,043 shares during the period. Geode Capital Management LLC increased its holdings in Coinbase Global by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 6,098,062 shares of the cryptocurrency exchange’s stock valued at $1,374,080,000 after purchasing an additional 189,080 shares in the last quarter. Paradigm Operations LP grew its stake in shares of Coinbase Global by 3.3% in the fourth quarter. Paradigm Operations LP now owns 4,262,458 shares of the cryptocurrency exchange’s stock valued at $963,912,000 after buying an additional 134,425 shares in the last quarter. Norges Bank purchased a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $656,744,000. Finally, ARK Investment Management LLC lifted its holdings in Coinbase Global by 6.1% in the 4th quarter. ARK Investment Management LLC now owns 2,541,928 shares of the cryptocurrency exchange’s stock worth $574,832,000 after buying an additional 146,388 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

COIN has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price target on shares of Coinbase Global from $226.00 to $228.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Citigroup cut their price target on Coinbase Global from $400.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday. B. Riley Financial decreased their target price on shares of Coinbase Global from $243.00 to $203.00 and set a “neutral” rating for the company in a research report on Monday, June 1st. Needham & Company LLC restated a “buy” rating and set a $220.00 price objective on shares of Coinbase Global in a research note on Wednesday, June 17th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Coinbase Global in a report on Wednesday, June 17th. 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $239.14.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: Coinbase unveiled new AI-agent payment infrastructure for business accounts, including support for USDC payments, automated trading tools, and a developer SDK. That reinforces the company’s push into stablecoin and AI-enabled payments, which could open new revenue streams. Coinbase Unveils AI Agent Payment Infrastructure for Business Accounts
• Positive Sentiment: Coinbase is expanding in Singapore, with plans to grow headcount and deepen its institutional and engineering presence in the region. Investors may view the move as evidence of international growth beyond the U.S. market. Coinbase to expand Singapore office headcount by 25%: report
• Positive Sentiment: Coinbase also participated in the launch of the Bitcoin Security Consortium alongside firms like BlackRock and Block, which may be seen as a credibility boost for the company’s role in crypto infrastructure. BlackRock, Coinbase, Strategy Among Nine Firms Launching the Bitcoin Security Consortium
• Neutral Sentiment: Raymond James began coverage on Coinbase Global, adding another analyst voice to the name, but the article provided no new rating or thesis details. Raymond James Financial Begins Coverage on Coinbase Global (NASDAQ:COIN)
• Neutral Sentiment: Some commentary suggests Coinbase could benefit even if the CLARITY Act stalls, since clearer crypto rules and broader market adoption still support the platform’s long-term business case. How Coinbase stock could win even if the Clarity Act loses
• Negative Sentiment: Near-term investor sentiment is being weighed down by uncertainty around U.S. crypto legislation, with reports saying the Senate CLARITY Act faces political roadblocks and analysts have cut price targets ahead of earnings. That likely explains some of the weakness in Coinbase Global (COIN) shares today. Coinbase (COIN) Stock Drops 3% Amid Senate Crypto Bill Uncertainty
• Negative Sentiment: Citi lowered its price target on Coinbase from $400 to $235, echoing earlier cuts from JPMorgan. Even with a bullish rating, the reduced valuation can pressure sentiment ahead of the company’s upcoming earnings report. Analyst cuts Coinbase price target 40% ahead of Q2 earnings
• Negative Sentiment: Coinbase disclosed a 50-minute outage caused by a configuration error that disrupted transfers, debit card purchases, and onchain services. Operational hiccups like this can hurt confidence in the platform’s reliability. Coinbase Reveals How One Configuration Error Triggered a 50-Minute Outage

Coinbase Global Stock Performance

Shares of COIN opened at $158.29 on Monday. Coinbase Global, Inc. has a 12 month low of $139.18 and a 12 month high of $402.16. The company’s fifty day moving average is $166.18 and its 200-day moving average is $184.25. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.44. The firm has a market cap of $41.70 billion, a price-to-earnings ratio of 59.51, a price-to-earnings-growth ratio of 10.19 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55). The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.49 billion. Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The company’s revenue for the quarter was down 30.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 EPS. Equities analysts expect that Coinbase Global, Inc. will post 1.42 EPS for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 1,960 shares of Coinbase Global stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $176.88, for a total transaction of $346,684.80. Following the sale, the insider directly owned 84,753 shares of the company’s stock, valued at approximately $14,991,110.64. The trade was a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 10,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $181.54, for a total transaction of $1,815,400.00. Following the completion of the sale, the director owned 30,000 shares in the company, valued at $5,446,200. This represents a 25.00% 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. In the last 90 days, insiders have sold 30,627 shares of company stock worth $5,327,841. Corporate insiders own 16.66% of the company’s stock.

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.