Strs Ohio Decreases Position in Coinbase Global, Inc. $COIN

Strs Ohio lessened its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 32.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,030 shares of the cryptocurrency exchange’s stock after selling 22,108 shares during the period. Strs Ohio’s holdings in Coinbase Global were worth $8,037,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Keybank National Association OH increased its position in shares of Coinbase Global by 24.1% during the first quarter. Keybank National Association OH now owns 3,218 shares of the cryptocurrency exchange’s stock worth $562,000 after acquiring an additional 624 shares during the period. Essex Financial Services Inc. purchased a new position in Coinbase Global in the first quarter valued at $318,000. Fulton Bank N.A. grew its stake in Coinbase Global by 1.1% during the 1st quarter. Fulton Bank N.A. now owns 4,942 shares of the cryptocurrency exchange’s stock worth $863,000 after purchasing an additional 53 shares in the last quarter. USS Investment Management Ltd increased its holdings in Coinbase Global by 1.9% during the 1st quarter. USS Investment Management Ltd now owns 34,685 shares of the cryptocurrency exchange’s stock worth $6,056,000 after purchasing an additional 659 shares during the period. Finally, IFM Investors Pty Ltd raised its position in Coinbase Global by 8.6% in the 1st quarter. IFM Investors Pty Ltd now owns 42,269 shares of the cryptocurrency exchange’s stock valued at $7,381,000 after purchasing an additional 3,332 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on COIN. JPMorgan Chase & Co. boosted their price objective on Coinbase Global from $252.00 to $290.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Piper Sandler decreased their price target on shares of Coinbase Global from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Friday, May 8th. Weiss Ratings upgraded shares of Coinbase Global from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Rothschild & Co Redburn boosted 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. Finally, B. Riley Financial reduced their price objective on shares of Coinbase Global from $243.00 to $203.00 and set a “neutral” rating on the stock in a report on Monday, June 1st. Eighteen research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $250.65.

Insider Transactions at Coinbase Global

In other Coinbase Global news, Director Frederick R. Wilson sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $181.54, for a total transaction of $1,815,400.00. Following the transaction, the director owned 30,000 shares of the company’s stock, valued at approximately $5,446,200. This trade represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 dated Friday, June 5th. The stock was sold at an average price of $158.15, for a total value of $324,365.65. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 30,647 shares of company stock worth $5,740,941. Insiders own 16.66% of the company’s stock.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $165.48 on Monday. The stock’s 50-day simple moving average is $177.11 and its 200-day simple moving average is $192.43. The firm has a market capitalization of $43.60 billion, a PE ratio of 62.21, a price-to-earnings-growth ratio of 5.84 and a beta of 3.35. Coinbase Global, Inc. has a fifty-two week low of $139.18 and a fifty-two week high of $444.64. 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 (NASDAQ:COIN) last announced its quarterly 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 net margin of 12.20% and a return on equity of 4.16%. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the company earned $0.24 earnings per share. The business’s revenue for the quarter was down 30.5% on a year-over-year basis. As a group, equities research analysts forecast that Coinbase Global, Inc. will post 1.74 EPS for the current fiscal year.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: CEO Brian Armstrong has been highlighting progress on the Bitcoin Clarity Act and pushing for clearer U.S. crypto rules, which could help Coinbase if regulators create a more favorable operating environment. Coinbase Global Stock (COIN) Opinions on Regulatory Clarity and Market Pressures
• Positive Sentiment: Coinbase is being mentioned alongside major institutions in new blockchain and stablecoin initiatives, including Morpho’s $175 million funding round and a global stablecoin effort with Visa, Mastercard, and BNY, reinforcing Coinbase’s relevance in crypto infrastructure. Morpho Secures $175M Funding from Paradigm and a16z to Scale Blockchain Credit Infrastructure Global Stablecoin Initiative Launched by Visa, Mastercard, BNY, Coinbase, Others
• Positive Sentiment: Some analysts and market commentators continue to frame Coinbase as a core crypto infrastructure play, with recent buy ratings and price targets still implying meaningful upside versus the current share price. COIN Vs. MSTR: Buy Coinbase for Pure Exchange Fees and Structural Infrastructure Moats
• Neutral Sentiment: Crypto-linked stocks are seeing a broader bounce, and Coinbase is participating in the move, but the setup looks more like sector sympathy than a company-specific catalyst. Robinhood Jumps 6% on Bullish Analyst Initiations as Coinbase, Strategy Ride a Crypto-Stock Bounce
• Negative Sentiment: Coinbase’s latest reported quarterly revenue fell 30.5% year over year, and the company missed earnings and revenue expectations, which keeps pressure on the stock’s valuation. Coinbase Global Stock Performance
• Negative Sentiment: Insider activity remains a headwind, with 61 insider sales and no insider purchases over the past six months, which may be weighing on investor sentiment. Coinbase Global Stock (COIN) Opinions on Regulatory Clarity and Market Pressures
• Negative Sentiment: Technical commentary in the latest discussion notes repeated tests of support levels, with traders warning that a breakdown could send shares lower. Coinbase Global Stock (COIN) Opinions on Regulatory Clarity and Market Pressures

About Coinbase Global

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.