California State Teachers Retirement System Buys 5,758 Shares of Coinbase Global, Inc. $COIN

California State Teachers Retirement System boosted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 1.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 324,386 shares of the cryptocurrency exchange’s stock after buying an additional 5,758 shares during the quarter. California State Teachers Retirement System’s holdings in Coinbase Global were worth $56,641,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of COIN. Vanguard Group Inc. raised its position in shares of Coinbase Global by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 26,400,836 shares of the cryptocurrency exchange’s stock worth $5,970,285,000 after acquiring an additional 184,043 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Coinbase Global by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 6,098,062 shares of the cryptocurrency exchange’s stock valued at $1,374,080,000 after purchasing an additional 189,080 shares in the last quarter. Paradigm Operations LP grew its stake in Coinbase Global by 3.3% in the fourth quarter. Paradigm Operations LP now owns 4,262,458 shares of the cryptocurrency exchange’s stock worth $963,912,000 after purchasing an additional 134,425 shares during the period. Norges Bank purchased a new stake in Coinbase Global in the fourth quarter worth $656,744,000. Finally, ARK Investment Management LLC raised its holdings in Coinbase Global by 6.1% in the fourth quarter. ARK Investment Management LLC now owns 2,541,928 shares of the cryptocurrency exchange’s stock worth $574,832,000 after purchasing an additional 146,388 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

COIN has been the subject of a number of recent research reports. Rosenblatt Securities reissued a “buy” rating and set a $240.00 price target on shares of Coinbase Global in a research report on Tuesday. B. Riley Financial decreased their target price on shares of Coinbase Global from $243.00 to $203.00 and set a “neutral” rating for the company in a research note on Monday, June 1st. BTIG Research lowered their target price on shares of Coinbase Global from $280.00 to $260.00 and set a “buy” rating for the company in a report on Monday, July 13th. Piper Sandler dropped their price target on Coinbase Global from $170.00 to $155.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. Finally, The Goldman Sachs Group upped their price target on Coinbase Global from $226.00 to $228.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Eighteen analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Coinbase Global presently has a consensus rating of “Hold” and a consensus price target of $233.61.

Coinbase Global Stock Performance

Shares of COIN stock opened at $163.58 on Friday. The company has a market capitalization of $43.10 billion, a price-to-earnings ratio of 61.50, a price-to-earnings-growth ratio of 10.30 and a beta of 3.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.14 and a current ratio of 2.14. Coinbase Global, Inc. has a one year low of $139.18 and a one year high of $402.16. The company’s 50-day moving average is $164.00 and its 200 day moving average is $181.97.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($1.55). The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The firm’s quarterly revenue was down 30.5% on a year-over-year basis. During the same period last year, the firm posted $0.24 earnings per share. Sell-side analysts expect that Coinbase Global, Inc. will post 1.42 EPS for the current fiscal year.

Insider Activity

In related news, insider Lawrence J. Brock sold 6,616 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $189.01, for a total value of $1,250,490.16. Following the completion of the transaction, the insider directly owned 517 shares in the company, valued at $97,718.17. The trade was a 92.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 the business’s stock in a transaction that occurred 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. Insiders sold 30,627 shares of company stock worth $5,327,841 over the last three months. 16.66% of the stock is currently owned by insiders.

Coinbase Global News Roundup

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

• Positive Sentiment: Coinbase captured a record 10.3% share of global crypto trading volume, up from 9.1% in the first quarter, indicating that it is gaining market share even as overall industry activity weakens. The company also highlighted growth in derivatives, stablecoins, tokenized finance, prediction markets and subscription services. Coinbase Q2 results and record market share
• Positive Sentiment: A Manhattan federal judge dismissed much of a customer lawsuit alleging Coinbase illegally sold unregistered securities, including claims involving matched customer transactions. The ruling could reduce legal exposure, although remaining claims may still create risk. Coinbase customer lawsuit ruling
• Neutral Sentiment: Management is lobbying for the Senate’s CLARITY Act, which could establish clearer crypto-market rules and potentially make it easier for Coinbase to expand products and attract institutional and retail customers. Passage and timing remain uncertain. CLARITY Act implications for Coinbase
• Negative Sentiment: Coinbase reported a GAAP net loss of $359.5 million, or $1.36 per diluted share, versus analysts’ expected loss of roughly $122 million, while revenue fell 18.5% year over year to $1.22 billion, below estimates near $1.29 billion to $1.31 billion. This marked the company’s third consecutive quarterly loss and its third straight revenue and earnings miss. Coinbase third-quarterly loss report
• Negative Sentiment: Lower spot-crypto trading volumes and subdued market volatility reduced transaction revenue and outweighed gains in subscription and services revenue. The results raise doubts about whether Coinbase can quickly diversify beyond its traditional exchange business.

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.