NZS Capital LLC Decreases Stock Holdings in Coinbase Global, Inc. $COIN

NZS Capital LLC lessened its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 13.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,337 shares of the cryptocurrency exchange’s stock after selling 13,578 shares during the period. NZS Capital LLC’s holdings in Coinbase Global were worth $28,463,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of COIN. REAP Financial Group LLC purchased a new position in Coinbase Global in the third quarter worth about $25,000. Evelyn Partners Investment Management Europe Ltd grew its position in shares of Coinbase Global by 92.3% during the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock valued at $29,000 after acquiring an additional 36 shares during the period. Salomon & Ludwin LLC increased its stake in shares of Coinbase Global by 4,400.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 90 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 88 shares in the last quarter. Financial Gravity Companies Inc. bought a new position in Coinbase Global in the 2nd quarter worth $34,000. Finally, Fourth Dimension Wealth LLC raised its holdings in Coinbase Global by 300.0% in the 2nd quarter. Fourth Dimension Wealth LLC now owns 100 shares of the cryptocurrency exchange’s stock worth $35,000 after purchasing an additional 75 shares during the period. 68.84% of the stock is owned by institutional investors.

Key Headlines Impacting Coinbase Global

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

• Positive Sentiment: Bermuda partnership and pilot approach — Bermuda’s plan to test a fully on?chain economy includes support from Circle and Coinbase, signaling potential government-level pilot use cases and regulatory collaboration that could expand institutional demand. Article Title
• Positive Sentiment: cbBTC bridge to Monad increases liquidity — Chainlink-enabled transfers of Coinbase’s wrapped Bitcoin (cbBTC) to Monad could unlock >$5B of Bitcoin-backed liquidity into new DeFi markets, improving demand for Coinbase custody/wrapping services. Article Title
• Positive Sentiment: Index inclusion expands distribution — The Virtune Coinbase 50 Index ETP added five assets (now 26 total), reflecting continued use of Coinbase data/indexes in product wrappers that can indirectly boost custody/market-data revenue. Article Title
• Positive Sentiment: Analyst optimism and buy ratings — Multiple recent buy ratings and a median 6?month price target around $285 suggest Wall Street sees upside vs. current levels, providing potential support if execution improves. Article Title
• Neutral Sentiment: Bitcoin market technicals are stabilizing — Analysts note slowing downside momentum and tightening volatility in BTC, which may reduce extreme volume swings but doesn’t yet confirm a sustained bull turn; this is a mixed signal for exchange volumes. Article Title
• Neutral Sentiment: Short?interest data appears anomalous — Recent short?interest entries report zero shares/NaN changes, likely a reporting artifact; no clear signal of a rising short squeeze or large build from these feeds.
• Neutral Sentiment: Institutional flows mixed — Some large institutions trimmed positions while others (including A16Z, Capital World, BlackRock) added shares, indicating divergent macro and conviction-based positioning rather than a one-sided institutional trend. Article Title
• Negative Sentiment: Regulatory/compliance risk highlighted by Jamie Dimon — JPMorgan’s CEO argued crypto firms paying stablecoin interest should face bank-like rules, increasing the risk of stricter regulation that could raise Coinbase’s compliance costs or limit product offerings. Article Title
• Negative Sentiment: Product execution headwind — CEO Brian Armstrong acknowledged the Base App’s SocialFi push “fell short” and the product is being refocused toward trading/self?custody, signaling the firm is retrenching in areas that didn’t drive engagement as expected. Article Title
• Negative Sentiment: Earnings and trading weakness remain a drag — Recent quarterly results showed a revenue and EPS miss and materially lower trading revenue year?over?year, a principal reason for weaker share performance earlier this year. Article Title
• Negative Sentiment: Heavy insider selling — Public filings show extensive insider sales in recent months, which can weigh on investor sentiment even if sales are pre?planned or for diversification. Article Title

Analyst Upgrades and Downgrades

A number of analysts have commented on COIN shares. Bank of America upgraded Coinbase Global from a “neutral” rating to a “buy” rating and set a $340.00 price target for the company in a research report on Thursday, January 8th. Wall Street Zen lowered Coinbase Global from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Rothschild & Co Redburn cut their price objective on shares of Coinbase Global from $403.00 to $288.00 and set a “buy” rating on the stock in a research report on Wednesday, February 18th. Barclays reduced their price target on Coinbase Global from $258.00 to $148.00 and set an “equal weight” rating on the stock in a report on Friday, February 13th. Finally, Compass Point decreased their price objective on shares of Coinbase Global from $190.00 to $140.00 and set a “sell” rating for the company in a report on Friday, February 20th. Nineteen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $270.67.

Insider Buying and Selling

In other news, CFO Alesia J. Haas sold 364,600 shares of the business’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $154.95, for a total transaction of $56,494,770.00. Following the transaction, the chief financial officer owned 402,165 shares of the company’s stock, valued at approximately $62,315,466.75. The trade was a 47.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian Armstrong sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $273.86, for a total value of $10,954,400.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 513,775 shares of company stock worth $95,046,092. 16.56% of the stock is owned by corporate insiders.

Coinbase Global Stock Down 1.6%

Coinbase Global stock opened at $182.36 on Wednesday. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.40. The firm has a market cap of $48.16 billion, a price-to-earnings ratio of 41.54, a price-to-earnings-growth ratio of 2.66 and a beta of 3.70. The business’s 50-day moving average price is $204.04 and its 200 day moving average price is $270.99. Coinbase Global, Inc. has a 52 week low of $139.36 and a 52 week high of $444.64.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 12th. The cryptocurrency exchange reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.17). Coinbase Global had a net margin of 17.55% and a return on equity of 8.68%. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the business earned $4.68 earnings per share. Coinbase Global’s revenue was down 21.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

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.