Fideuram - Intesa Sanpaolo Private Banking S.P.A. 13F: Adds $8.1M to COIN Stake
Key Points
- Fideuram - Intesa Sanpaolo Private Banking increased its Coinbase holdings by 43,412 shares to end with 119,353 shares valued at about $22.2 million.
- Wall Street maintains a consensus buy rating on Coinbase with a mean target price of $212.31 ahead of its upcoming earnings report.
- The crypto platform stock recently traded near $169.17, remaining below its 50-day and 200-day moving averages.
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Fideuram - Intesa Sanpaolo Private Banking grew its stake in Coinbase Global, Inc. (COIN) during the quarter, according to a Form 13F filing with the SEC on October 22, 2026. The firm acquired an additional 43,412 shares, marking a 57.2% increase from its previous holding of 75,941 shares. The resulting position of 119,353 shares was valued at approximately $22.2 million at the time of the filing.
COIN
Coinbase Global, Inc.
Fideuram - Intesa Sanpaolo Private Banking S.P.A. vs. the S&P 500
Hypothetical returns from Fideuram - Intesa Sanpaolo Private Banking S.P.A.'s disclosed trades, not real profit or advice. How we model this.
What Changed in Fideuram - Intesa Sanpaolo Private Banking's Coinbase Position
The private banking firm expanded its exposure to the crypto exchange operator significantly during the period. By adding 43,412 shares, the institution brought its total investment up to 119,353 shares. The block of shares carried a reported value of $22.2 million based on market pricing around the filing date.
Other Institutional Activity in Coinbase
Other large investors also adjusted their positions in the stock around the same timeframe. CTC grew its holdings by 196,463 shares, ending with 399,232 shares worth about $60.5 million. Paradigm Operations LP reduced its stake by 404,174 shares, or 11.3%, to hold 3,185,297 shares valued at $538.6 million. Meanwhile, ARK Investment Management, LLC lifted its position by 138,344 shares, or 5.8%, finishing with 2,511,319 shares worth $424.6 million.
Coinbase Global, Inc. Stock Down 1.0%
Coinbase shares closed at $169.09 on October 22, 2026, and recently traded at $169.17 as of October 23, 2026. The recent price sits below both its 50-day moving average of $178.94 and its 200-day moving average of $181.32. The stock has traded in a 52-week range between $139.11 and $373.25.
Recent Earnings
Coinbase reported trailing twelve-month revenue of $6.04 billion alongside basic earnings per share of -$3.84. The company recorded a net profit margin of -16.3% and a return on equity of -7.8%. The next earnings release is scheduled for October 29, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
7 target cuts vs 2 raises.
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EPS & revenue
EPS missed estimates by 559.7%. Revenue missed estimates by 9.0%.
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Profit surprise
EBITDA missed sharply. Operating income missed sharply.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
2 target raises, 7 target cuts.
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Earnings quality
Gross margin down 5.6 points. Operating margin down 33.7 points. Negative free cash flow.
Earnings Call Summary
Coinbase reported $1.4 billion in Q1 revenue, down 21 percent from Q4 due to a crypto market decline of over 20 percent. Despite tough conditions, the company reached an all-time high in crypto trading market share and posted its 12th straight quarter of native asset inflows. The Everything Exchange strategy is working, with derivatives generating $200 million annualized revenue and prediction markets hitting $100 million annualized revenue in just two months. Management emphasized strong fundamentals in stablecoins, with $19 billion in average USDC held and 10x growth in stablecoin transactions on the Base blockchain.
Guidance Coinbase expects subscription and services revenue between $565 million and $645 million in the next quarter, up from current levels. Operating expenses for Q2 are expected between $820 million and $870 million, down 4 to 9 percent from Q1. Full year adjusted expenses should come in between $4.3 billion and $4.6 billion, roughly $500 million lower than exit rates from late 2025.
Severe negative reset. The report materially damaged the forward outlook and likely forces major downward revisions.
Insider Buying and Selling at Coinbase Global, Inc.
Company insiders completed several transactions earlier in the year. On June 16, 2026, Frederick Ernest Ehrsam III acquired 1,150 shares and disposed of 1,150 shares. Kelly Kramer picked up 2,657 shares on June 16, 2026, while Gokul Rajaram added 1,234 shares on the same date.
Analysts Set New Price Targets
Wall Street firms updated their outlooks on the stock ahead of the filing. On October 7, 2026, Barclays maintained an underweight rating and adjusted its price target from $95.00 to $149.00. Citizens reiterated a market outperform rating on October 9, 2026, moving its target from $325.00 to $280.00. On the same day, Morgan Stanley kept an equal-weight rating while lifting its target to $258.00 from $250.00. Citigroup reaffirmed a buy rating on October 13, 2026, raising its target to $230.00 from $210.00. Most recently, Needham kept a buy rating on October 21, 2026, and raised its target from $200.00 to $205.00. Overall, the stock carries a consensus buy rating and a mean price target of $212.31 across 33 analyst opinions.
About Coinbase
Coinbase operates online infrastructure and financial accounts for the digital asset economy. It provides brokerage and trading liquidity tools for retail customers, institutions, and software developers building on blockchain networks.
Bottom Line
Institutional interest in the crypto exchange remains active as investors weigh market conditions. Observers will look to the upcoming earnings release on October 29, 2026, for further financial updates.
Related Filing Alerts
Source: Fideuram - Intesa Sanpaolo Private Banking S.P.A.'s 13F filing on $COIN (Oct 22, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts