VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 17,551 Coinbase Global, Inc. $COIN

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 2nd quarter, HoldingsChannel reports. The firm bought 17,551 shares of the cryptocurrency exchange’s stock, valued at approximately $2,566,000.

A number of other large investors have also recently made changes to their positions in the stock. California State Teachers Retirement System lifted its holdings in Coinbase Global by 14,352.9% during the 2nd quarter. California State Teachers Retirement System now owns 46,883,279 shares of the cryptocurrency exchange’s stock worth $6,853,867,000 after purchasing an additional 46,558,893 shares in the last quarter. Readystate Asset Management LP purchased a new position in Coinbase Global during the 2nd quarter valued at about $2,587,000. Ameritas Advisory Services LLC increased its position in shares of Coinbase Global by 92.1% during the second quarter. Ameritas Advisory Services LLC now owns 3,326 shares of the cryptocurrency exchange’s stock valued at $486,000 after buying an additional 1,595 shares during the period. NBH Bank bought a new stake in shares of Coinbase Global during the second quarter valued at about $197,000. Finally, AlphaGrep UK Ltd purchased a new stake in shares of Coinbase Global in the second quarter worth about $222,000. 68.84% of the stock is owned by institutional investors.

Coinbase Global Stock Down 1.4%

Shares of NASDAQ COIN opened at $172.28 on Friday. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 0.45. The business has a 50-day moving average of $165.24 and a 200-day moving average of $175.91. The firm has a market capitalization of $45.45 billion, a price-to-earnings ratio of -44.86 and a beta of 3.39. Coinbase Global, Inc. has a 12 month low of $139.11 and a 12 month high of $402.16.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.92). Coinbase Global had a negative net margin of 15.72% and a positive return on equity of 3.12%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the firm earned $5.14 earnings per share. The company’s revenue for the quarter was down 18.5% compared to the same quarter last year. Sell-side analysts expect that Coinbase Global, Inc. will post -0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on COIN shares. Barclays cut their price objective on shares of Coinbase Global from $99.00 to $95.00 and set an “underweight” rating for the company in a research report on Friday, July 31st. Oppenheimer lowered their target price on shares of Coinbase Global from $209.00 to $193.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Piper Sandler cut their price target on shares of Coinbase Global from $155.00 to $146.00 and set a “neutral” rating for the company in a report on Friday, July 31st. Weiss Ratings lowered shares of Coinbase Global from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday, July 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $212.00 price target on shares of Coinbase Global in a report on Monday, August 31st. Eighteen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $218.74.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: Coinbase partnered with payments infrastructure provider Moov to bring stablecoin acceptance, settlement and real-time funding to more than 1,000 U.S. community banks and credit unions. The initiative could expand Coinbase’s institutional reach and create additional transaction and custody revenue opportunities. Coinbase partners with Moov to boost community bank stablecoin capabilities before Clarity vote
• Positive Sentiment: CEO Brian Armstrong said stablecoin payment flows could become a major growth driver, projecting significant expansion in the stablecoin market by 2030. He also argued that Bitcoin’s current cycle may have bottomed and reiterated that a $400,000 Bitcoin price by 2030 is a reasonable long-term target. These comments support the company’s growth narrative, although they are forecasts rather than new financial results. Coinbase CEO Confident Stablecoin Payments Will Fuel Growth
• Positive Sentiment: Management continues to broaden Coinbase beyond spot crypto trading through its “Everything Exchange” strategy, tokenized assets, prediction-market infrastructure for Kalshi and expanded USDC yield products in Brazil. Greater product diversification could reduce reliance on transaction revenue over time.
• Neutral Sentiment: Morgan Stanley initiated coverage with an Equal Weight rating and a $250 price target, reflecting substantial potential upside from recent levels but caution that Coinbase remains closely tied to the volatile crypto cycle. Morgan Stanley rates Coinbase as Hold equivalent, with price target set at $250
• Neutral Sentiment: Armstrong said U.S. crypto regulation could advance through SEC and CFTC rulemaking even if the Senate’s September 15 vote on the CLARITY Act fails. The prospect of eventual clarity is favorable, but the vote remains a near-term uncertainty for investors.
• Negative Sentiment: Director Marc Andreessen sold 13,676 shares worth approximately $2.5 million under a pre-arranged Rule 10b5-1 plan. The sale reduced his holdings by 1.19% and may weigh modestly on sentiment, despite being scheduled in advance. SEC insider transaction filing
• Negative Sentiment: Bitcoin’s recent decline and broader crypto-market weakness are immediate headwinds for Coinbase’s trading activity, revenue and earnings outlook. The company’s latest reported quarter also showed an earnings and revenue miss, underscoring ongoing operating sensitivity to market conditions.

Insider Activity

In other news, CAO Jennifer Jones sold 2,062 shares of Coinbase Global stock in a transaction on Monday, August 24th. The shares were sold at an average price of $188.75, for a total transaction of $389,202.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick Wilson sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $178.93, for a total transaction of $1,789,300.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 70,806 shares of company stock worth $11,307,687. 16.66% of the stock is currently owned by corporate insiders.

About Coinbase Global

Coinbase Global, Inc operates a digital asset and cryptocurrency platform serving retail users, institutions, developers and ecosystem partners. Through its exchange, customers can buy, sell, convert, store and transfer a range of cryptocurrencies and other digital assets. The company also provides an advanced trading platform for more experienced users and services designed for institutional trading and market access.

Its product offerings include custodial services, institutional prime brokerage and custody, staking services, a self-custody wallet, and tools that enable developers and businesses to build applications using blockchain networks.