Coinbase Global, Inc. $COIN Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al trimmed its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 35.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,760 shares of the cryptocurrency exchange’s stock after selling 4,240 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Coinbase Global were worth $1,755,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of COIN. Vanguard Group Inc. increased its holdings in shares of Coinbase Global by 8.3% during the third quarter. Vanguard Group Inc. now owns 26,216,793 shares of the cryptocurrency exchange’s stock valued at $8,847,905,000 after purchasing an additional 2,007,930 shares during the period. Ruffer LLP acquired a new position in shares of Coinbase Global during the fourth quarter valued at $166,515,000. Artisan Partners Limited Partnership acquired a new position in shares of Coinbase Global during the third quarter valued at $224,663,000. Baillie Gifford & Co. acquired a new position in Coinbase Global during the third quarter worth about $198,249,000. Finally, Rakuten Investment Management Inc. acquired a new position in Coinbase Global during the third quarter worth about $157,015,000. 68.84% of the stock is owned by institutional investors and hedge funds.

More Coinbase Global News

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 Trading Down 7.8%

Shares of NASDAQ COIN opened at $195.43 on Friday. Coinbase Global, Inc. has a one year low of $139.36 and a one year high of $444.64. The firm has a market capitalization of $51.49 billion, a PE ratio of 73.47, a PEG 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 business has a 50-day moving average price of $191.39 and a two-hundred day moving average price of $222.22.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data 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 business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.49 billion. Coinbase Global had a return on equity of 4.06% and a net margin of 12.20%.The company’s revenue was down 30.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 earnings per share. As a group, analysts predict that Coinbase Global, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Alesia J. Haas sold 10,020 shares of Coinbase Global stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $200.00, for a total transaction of $2,004,000.00. Following the completion of the sale, the chief financial officer directly owned 377,201 shares in the company, valued at $75,440,200. The trade was a 2.59% decrease in their position. The sale 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. In the last three months, insiders sold 29,990 shares of company stock worth $6,013,920. 16.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on COIN shares. Needham & Company LLC lowered their target price on Coinbase Global from $230.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, May 8th. UBS Group set a $264.00 target price on Coinbase Global in a report on Friday, February 13th. President Capital increased their price target on Coinbase Global from $236.00 to $264.00 and gave the company a “buy” rating in a research report on Tuesday. Canaccord Genuity Group decreased their price target on Coinbase Global from $400.00 to $300.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Finally, The Goldman Sachs Group increased their price target on Coinbase Global from $225.00 to $231.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Nineteen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Coinbase Global presently has a consensus rating of “Hold” and a consensus target price of $252.20.

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.