VIRGINIA RETIREMENT SYSTEMS ET Al Cuts Stake in Coinbase Global, Inc. $COIN

VIRGINIA RETIREMENT SYSTEMS ET Al lessened its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 35.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,760 shares of the cryptocurrency exchange’s stock after selling 4,240 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Coinbase Global were worth $1,755,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COIN. Integrated Wealth Concepts LLC increased its position in Coinbase Global by 24.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange’s stock worth $365,000 after purchasing an additional 413 shares in the last quarter. Empowered Funds LLC increased its position in Coinbase Global by 25.8% during the 1st quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange’s stock worth $1,478,000 after purchasing an additional 1,761 shares in the last quarter. Focus Partners Wealth grew its position in Coinbase Global by 9.9% in the first quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange’s stock valued at $896,000 after acquiring an additional 467 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Coinbase Global in the second quarter valued at approximately $285,000. Finally, Cerity Partners LLC grew its position in Coinbase Global by 8.6% in the second quarter. Cerity Partners LLC now owns 17,694 shares of the cryptocurrency exchange’s stock valued at $6,203,000 after acquiring an additional 1,402 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Coinbase Global stock opened at $195.43 on Friday. The stock has a market cap of $51.49 billion, a P/E ratio of 73.47, a price-to-earnings-growth ratio of 7.73 and a beta of 3.38. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.40. The stock has a 50 day moving average of $191.39 and a 200-day moving average of $222.22. Coinbase Global, Inc. has a 52 week low of $139.36 and a 52 week high of $444.64.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data 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). Coinbase Global had a return on equity of 4.06% and a net margin of 12.20%.The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the business earned $0.24 earnings per share. The business’s revenue for the quarter was down 30.5% compared to the same quarter last year. On average, analysts expect that Coinbase Global, Inc. will post 1.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

COIN has been the subject of several recent research reports. Zacks Research raised shares of Coinbase Global from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Robert W. Baird lowered their price objective on shares of Coinbase Global from $200.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, May 8th. Bank of America lowered their price objective on shares of Coinbase Global from $288.00 to $234.00 in a research report on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Coinbase Global from $206.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, Oppenheimer lowered their price objective on shares of Coinbase Global from $227.00 to $224.00 in a research report on Friday, May 8th. Nineteen investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $252.20.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 10,020 shares of the firm’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $200.00, for a total value of $2,004,000.00. Following the sale, the chief financial officer directly owned 377,201 shares in the company, valued at approximately $75,440,200. This trade represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 29,990 shares of company stock valued at $6,013,920 in the last quarter. Company insiders own 16.66% of the company’s stock.

Coinbase Global News Summary

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

• Positive Sentiment: Coinbase benefited earlier in the week from the Senate Banking Committee advancing the CLARITY Act, which could create a more favorable regulatory backdrop for crypto trading and adoption. Coinbase, Robinhood Stocks Lose Momentum After Big Crypto Bill Win
• Positive Sentiment: Rothschild & Co Redburn raised its price target on Coinbase to $263 and kept a buy rating, signaling continued analyst confidence in the stock. Coinbase Global Price Target Raised to $263.00 at Rothschild & Co Redburn
• Neutral Sentiment: Coinbase expanded its role in the Hyperliquid ecosystem by becoming the official USDC treasury deployer, highlighting growing stablecoin and onchain trading activity. Coinbase Expands USDC Push On Hyperliquid As Onchain Trading Liquidity Accelerates
• Negative Sentiment: Crypto stocks are losing momentum after an initial rally faded, with investors pulling back amid macro uncertainty and doubts about sustained upside in digital assets. Why crypto stocks Coinbase, Robinhood, Strategy are sliding today
• Negative Sentiment: Some analysts say COIN still looks expensive after its recent run, with valuation concerns likely limiting near-term upside. COIN Stock Up 29% in 3 Months But Valuation Expensive: How to Play

Coinbase Global 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.