New York State Teachers Retirement System Reduces Stock Holdings in Coinbase Global, Inc. $COIN

New York State Teachers Retirement System trimmed its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 8.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 159,655 shares of the cryptocurrency exchange’s stock after selling 14,929 shares during the quarter. New York State Teachers Retirement System’s holdings in Coinbase Global were worth $27,877,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. MV Capital Management Inc. purchased a new position in shares of Coinbase Global during the 4th quarter valued at $27,000. Palisade Asset Management LLC bought a new position in Coinbase Global in the 3rd quarter worth approximately $29,000. Osbon Capital Management LLC purchased a new position in Coinbase Global in the 4th quarter valued at approximately $30,000. Brooklands Fund Management Ltd purchased a new position in Coinbase Global in the 4th quarter valued at approximately $34,000. Finally, Foster Dykema Cabot & Partners LLC bought a new stake in Coinbase Global during the 3rd quarter valued at $35,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 10,020 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 377,201 shares in the company, valued at $75,440,200. This represents a 2.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lawrence J. Brock sold 6,616 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 517 shares in the company, valued at approximately $97,718.17. The trade was a 92.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 30,647 shares of company stock valued at $5,740,941 over the last 90 days. Insiders own 16.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on COIN shares. Mizuho increased their target price on Coinbase Global from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 price target on shares of Coinbase Global in a research report on Wednesday, June 17th. Weiss Ratings upgraded Coinbase Global from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Oppenheimer dropped their price objective on Coinbase Global from $227.00 to $224.00 in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. raised their target price on Coinbase Global from $252.00 to $290.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Eighteen research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Coinbase Global presently has a consensus rating of “Hold” and an average target price of $250.65.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $165.48 on Friday. The firm has a fifty day moving average price of $177.11 and a two-hundred day moving average price of $192.84. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.14. Coinbase Global, Inc. has a one year low of $139.18 and a one year high of $444.64. The company has a market cap of $43.60 billion, a price-to-earnings ratio of 62.21, a PEG ratio of 5.84 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55). The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The firm’s revenue for the quarter was down 30.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 earnings per share. Analysts anticipate that Coinbase Global, Inc. will post 1.74 EPS for the current fiscal year.

Key Headlines Impacting 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

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.