Patten Group Inc. Purchases 3,353 Shares of Coinbase Global, Inc. $COIN

Patten Group Inc. lifted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 114.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,282 shares of the cryptocurrency exchange’s stock after buying an additional 3,353 shares during the period. Patten Group Inc.’s holdings in Coinbase Global were worth $1,097,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. GW&K Investment Management LLC boosted its position in Coinbase Global by 32.2% during the 3rd quarter. GW&K Investment Management LLC now owns 152 shares of the cryptocurrency exchange’s stock worth $51,000 after acquiring an additional 37 shares during the last quarter. Formidable Asset Management LLC lifted its position in shares of Coinbase Global by 2.2% in the fourth quarter. Formidable Asset Management LLC now owns 2,074 shares of the cryptocurrency exchange’s stock worth $469,000 after purchasing an additional 44 shares in the last quarter. L2 Asset Management LLC lifted its position in shares of Coinbase Global by 5.0% in the third quarter. L2 Asset Management LLC now owns 965 shares of the cryptocurrency exchange’s stock worth $326,000 after purchasing an additional 46 shares in the last quarter. Ancora Advisors LLC boosted its holdings in Coinbase Global by 4.5% during the third quarter. Ancora Advisors LLC now owns 1,174 shares of the cryptocurrency exchange’s stock worth $396,000 after purchasing an additional 51 shares during the last quarter. Finally, Kensington Investment Counsel LLC boosted its holdings in Coinbase Global by 7.0% during the third quarter. Kensington Investment Counsel LLC now owns 808 shares of the cryptocurrency exchange’s stock worth $273,000 after purchasing an additional 53 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

Key Headlines Impacting Coinbase Global

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 Price Performance

Shares of NASDAQ COIN opened at $165.48 on Friday. The business’s 50 day moving average price is $177.92 and its two-hundred day moving average price is $193.03. The company has a market cap of $43.60 billion, a PE ratio of 62.21, a price-to-earnings-growth ratio of 5.62 and a beta of 3.35. 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 twelve month low of $139.18 and a twelve month high of $444.64.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. KeyCorp reiterated a “sector weight” rating on shares of Coinbase Global in a research note on Wednesday, June 17th. Jefferies Financial Group lifted their target price on Coinbase Global from $151.00 to $181.00 and gave the company a “hold” rating in a research report on Thursday, April 9th. Robert W. Baird decreased their price target on Coinbase Global from $160.00 to $142.00 and set a “neutral” rating for the company in a research note on Friday, June 5th. Sanford C. Bernstein decreased their price target on Coinbase Global from $440.00 to $330.00 and set an “outperform” rating for the company in a research note on Monday, March 30th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $240.00 price objective 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 issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $250.65.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick R. Wilson sold 10,000 shares of Coinbase Global 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 transaction, the director directly owned 30,000 shares of the company’s stock, valued at $5,446,200. The trade was a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,051 shares of Coinbase Global stock in a transaction on Friday, June 5th. The stock was sold at an average price of $158.15, for a total transaction of $324,365.65. 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. Insiders sold 30,647 shares of company stock worth $5,740,941 in the last three months. 16.66% of the stock is owned by insiders.

Coinbase Global Company 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.