Coinbase stock is up 37% over the past seven days after Ark Investment sold 214,068 shares the day before
![Coinbase stock is up 37% over the past seven days after Ark Investment sold 214,068 shares the day before](/content/images/size/w1200/2024/02/Cathie-Wood-Watch-Ark-Buys-Coinbase-After-Rout_web-1.png)
U.S. asset manager ArkInvest sold 214,068 shares of Coinbase on Thursday through its ARK, ARKW and ARKF funds, according to ArkInvest Daily. Meanwhile, shares of cryptocurrency exchange Coinbase are up 37% in the past week ahead of its fourth-quarter earnings report. Analysts expect Coinbase's fourth-quarter revenue to jump 22% from the third quarter to $825 million, according to an analysis of data from MarketWatch and FactSet. Coinbase's earnings per share for the fourth quarter are also estimated at $0.02. Meanwhile, rival trading platform Robinhood reported a 24% year-over-year increase in fourth-quarter revenue, driven by a surge in cryptocurrency trading revenue.