Coinbase Global, Inc. $COIN is Cullinan Associates Inc.’s 4th Largest Position

Cullinan Associates Inc. reduced its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 14.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 257,925 shares of the cryptocurrency exchange’s stock after selling 44,800 shares during the quarter. Coinbase Global accounts for about 5.7% of Cullinan Associates Inc.’s investment portfolio, making the stock its 4th largest position. Cullinan Associates Inc.’s holdings in Coinbase Global were worth $87,047,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of COIN. Vanguard Group Inc. grew its holdings in shares of Coinbase Global by 25.5% during the second quarter. Vanguard Group Inc. now owns 24,208,863 shares of the cryptocurrency exchange’s stock worth $8,484,964,000 after purchasing an additional 4,914,407 shares in the last quarter. Geode Capital Management LLC lifted its position in Coinbase Global by 46.1% during the second quarter. Geode Capital Management LLC now owns 5,559,513 shares of the cryptocurrency exchange’s stock valued at $1,940,805,000 after purchasing an additional 1,755,146 shares during the last quarter. Norges Bank bought a new position in shares of Coinbase Global in the 2nd quarter worth $1,044,354,000. Charles Schwab Investment Management Inc. raised its position in shares of Coinbase Global by 53.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,455,916 shares of the cryptocurrency exchange’s stock valued at $510,284,000 after buying an additional 504,068 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Coinbase Global by 14.6% in the second quarter. Legal & General Group Plc now owns 1,136,620 shares of the cryptocurrency exchange’s stock worth $398,374,000 after acquiring an additional 145,047 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

COIN opened at $252.69 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40. The stock’s 50 day simple moving average is $260.52 and its 200 day simple moving average is $313.27. The firm has a market cap of $68.14 billion, a price-to-earnings ratio of 21.86 and a beta of 3.70. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.40. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the firm posted $0.28 earnings per share. The business’s quarterly revenue was up 55.1% compared to the same quarter last year. As a group, analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Ratings Changes

COIN has been the topic of a number of research reports. B. Riley raised their price target on Coinbase Global from $185.00 to $243.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. Oppenheimer reduced their price objective on Coinbase Global from $381.00 to $370.00 and set an “outperform” rating on the stock in a research report on Monday. Sanford C. Bernstein restated an “outperform” rating and issued a $440.00 target price on shares of Coinbase Global in a research report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft began coverage on Coinbase Global in a research note on Wednesday, December 17th. They issued a “buy” rating and a $340.00 target price for the company. Finally, Mizuho set a $280.00 price target on shares of Coinbase Global in a research note on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $375.18.

Key Coinbase Global News

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

• Positive Sentiment: Senate draft crypto framework lifts sentiment because it could provide clearer, nationwide rules for exchanges — a regulatory clarity outcome that investors often reward. Coinbase Stock Jumps: What’s Behind This Surge?
• Positive Sentiment: CEO Brian Armstrong’s public bullishness on tokenized stocks and other product expansions frames longer‑term revenue upside from new trading/custody services. Positive product narrative supports multiple revenue levers beyond spot trading. Coinbase CEO Brian Armstrong Details ‘Huge’ Prediction on Nascent Crypto Sector – Here’s His Outlook
• Positive Sentiment: Some analysts and investors view the pullback from multi‑hundred dollar highs as a buying opportunity; bullish analyst commentary (buy‑the‑dip cases) can attract capital on rebounds. Down 45% From Its Highs, This Analyst Thinks You Should Buy the Dip in Coinbase Stock
• Neutral Sentiment: Oppenheimer trimmed its price target slightly but left an outperform rating — mixed signal: longer runway acknowledged but shorter‑term valuation questions remain. Benzinga Coverage of Oppenheimer PT
• Neutral Sentiment: Competitive dynamics: Robinhood’s expansion into stock/crypto overlap raises competitive risk in trading and retail custody segments; watch product launches and fee mix. Robinhood Takes On Coinbase as Stock and Crypto Overlap
• Negative Sentiment: Stablecoin rewards are under intense Senate scrutiny; lawmakers and banking groups warn rewards could drain bank deposits. That scrutiny creates near‑term regulatory risk to a business line that contributed meaningfully to 2025 revenue. Coinbase Stock (COIN) in Focus as Stablecoin Rewards Face Senate Scrutiny
• Negative Sentiment: Coinbase has publicly threatened to withdraw support for the market‑structure/CLARITY bill if language restricts stablecoin rewards — a standoff that increases legislative uncertainty and could unsettle investors if the bill fails or forces business changes. Coinbase Threatens to Pull Support for Crypto Bill Over Stablecoin Rewards
• Negative Sentiment: Bernstein cut its price target and other coverage (e.g., Bernstein PT move reported on Yahoo Finance) signals some analyst caution — and exchange-linked BTC outflows reported from major exchanges can pressure trading volumes and fee revenue if crypto prices fall. Bernstein Lowers PT on Coinbase Global (COIN) Stock

Insider Activity

In related news, Director Frederick Ernest Ehrsam III sold 1,375 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $250.03, for a total value of $343,791.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 40,000 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $248.96, for a total value of $9,958,400.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 808,412 shares of company stock worth $237,645,711 in the last quarter. Insiders own 16.56% of the company’s stock.

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.