Patten Group Inc. Has $1.10 Million Holdings in Coinbase Global, Inc. $COIN

Patten Group Inc. raised its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 114.5% in the first quarter, HoldingsChannel reports. The fund owned 6,282 shares of the cryptocurrency exchange’s stock after acquiring an additional 3,353 shares during the period. Patten Group Inc.’s holdings in Coinbase Global were worth $1,097,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Coinbase Global by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 26,400,836 shares of the cryptocurrency exchange’s stock worth $5,970,285,000 after purchasing an additional 184,043 shares during the period. Geode Capital Management LLC grew 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 buying an additional 189,080 shares in the last quarter. Paradigm Operations LP grew its holdings in Coinbase Global by 3.3% in the 4th 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 acquired a new stake in shares of Coinbase Global during the fourth quarter worth $656,744,000. Finally, ARK Investment Management LLC lifted its holdings in shares of Coinbase Global by 6.1% during the fourth 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. Institutional investors and hedge funds own 68.84% of the company’s stock.

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

Insider Activity

In other news, insider Lawrence J. Brock sold 6,616 shares of Coinbase Global stock in a transaction on 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 owned 517 shares in the company, valued at approximately $97,718.17. The trade was a 92.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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. In the last three months, insiders have sold 30,647 shares of company stock valued at $5,740,941. 16.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. HC Wainwright decreased their price target on shares of Coinbase Global from $350.00 to $310.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Barclays reiterated an “underweight” rating on shares of Coinbase Global in a research note on Wednesday, June 17th. Needham & Company LLC restated a “buy” rating and set a $220.00 target price on shares of Coinbase Global in a research report on Wednesday, June 17th. Weiss Ratings raised Coinbase Global from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 29th. Finally, Rothschild & Co Redburn upped their price target on shares of Coinbase Global from $254.00 to $263.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Eighteen analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $250.65.

Coinbase Global Stock Up 3.9%

Shares of NASDAQ COIN opened at $165.48 on Friday. The company has a 50 day simple moving average of $177.92 and a 200 day simple moving average of $193.03. The firm 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. Coinbase Global, Inc. has a 1 year low of $139.18 and a 1 year high of $444.64. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.14.

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