Arizona State Retirement System Has $15 Million Holdings in Coinbase Global, Inc. $COIN

Key Points

• Arizona State Retirement System increased its Coinbase stake by 72.4% in the second quarter, ending the period with 102,633 shares valued at approximately $15 million. Institutional investors and hedge funds collectively own 68.84% of COIN.
• Analyst sentiment is mixed: 18 analysts rate Coinbase a Buy, nine rate it Hold and five rate it Sell. The consensus rating is Hold, with an average price target of $216.87.
• Coinbase’s latest quarter fell short of expectations, reporting a loss of $1.36 per share versus the expected $0.44 loss and revenue of $1.22 billion versus the $1.29 billion consensus; revenue declined 18.5% year over year.

Arizona State Retirement System increased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 72.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,633 shares of the cryptocurrency exchange's stock after acquiring an additional 43,109 shares during the quarter. Arizona State Retirement System's holdings in Coinbase Global were worth $15,004,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of COIN. Palisade Asset Management LLC acquired a new stake in Coinbase Global in the 3rd quarter valued at $29,000. MV Capital Management Inc. bought a new position in shares of Coinbase Global in the fourth quarter valued at approximately $27,000. Osbon Capital Management LLC purchased a new position in Coinbase Global during the 4th quarter worth $30,000. JPL Wealth Management LLC purchased a new stake in shares of Coinbase Global in the third quarter valued at about $49,000. Finally, Brooklands Fund Management Ltd purchased a new position in Coinbase Global during the fourth quarter worth about $34,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $208.00 target price on shares of Coinbase Global in a research report on Wednesday, June 17th. Weiss Ratings lowered Coinbase Global from a "hold (c-)" rating to a "sell (d)" rating in a research note on Friday, July 31st. UBS Group set a $155.00 price objective on shares of Coinbase Global in a report on Friday, July 31st. Rothschild & Co Redburn lifted their target price on shares of Coinbase Global from $254.00 to $263.00 and gave the stock a "buy" rating in a research note on Thursday, May 14th. Finally, BTIG Research decreased their price objective on Coinbase Global from $260.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, July 31st. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, Coinbase Global has a consensus rating of "Hold" and a consensus target price of $216.87.

Insiders Place Their Bets

In other Coinbase Global news, Director Frederick Wilson sold 35,068 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $144.32, for a total value of $5,061,013.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer Jones sold 2,062 shares of Coinbase Global stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $188.75, for a total value of $389,202.50. 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 sold 57,130 shares of company stock worth $8,830,416. 16.66% of the stock is owned by corporate insiders.

Coinbase Global Price Performance

COIN stock opened at $178.94 on Wednesday. The firm has a 50 day simple moving average of $164.79 and a two-hundred day simple moving average of $175.84. The stock has a market cap of $47.21 billion, a PE ratio of -46.60 and a beta of 3.39. Coinbase Global, Inc. has a one year low of $139.11 and a one year high of $402.16. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.42 and a quick ratio of 2.42.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.92). Coinbase Global had a positive return on equity of 3.12% and a negative net margin of 15.72%.The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the firm posted $5.14 earnings per share. The business's revenue was down 18.5% on a year-over-year basis. On average, analysts predict that Coinbase Global, Inc. will post -0.39 EPS for the current fiscal year.

More Coinbase Global News

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

• Positive Sentiment: Coinbase expanded its derivatives offering in Canada, launching 23 regulated perpetual and dated futures contracts tied to Bitcoin, Ether, Solana and other assets. The move supports management’s “everything exchange” strategy and could diversify revenue beyond spot crypto trading. Coinbase Brings BTC, ETH and SOL Derivatives to Canada
• Positive Sentiment: A Coinbase executive called the CLARITY Act a “powerful package” ahead of a key Senate vote. If passed, the bill could establish clearer rules for digital assets and reduce long-term uncertainty over whether tokens and crypto activities fall under securities laws. CLARITY Act Is a Powerful Package
• Neutral Sentiment: Bitcoin’s recovery has placed Coinbase among the crypto stocks investors are watching in September, but the articles provide no new company-specific financial information. Three Cryptocurrency Stocks Poised for Growth This September
• Neutral Sentiment: Institutional demand for privacy-focused crypto rose after Grayscale launched a Zcash ETF. This may improve sentiment toward digital-asset trading generally, although the development does not directly benefit Coinbase unless trading activity increases on its platform. Zcash Crossed $1,000 After Grayscale’s ETF Launched
• Negative Sentiment: House members are leaving Washington early for campaigning, reducing the time available to consider legislation that could clarify crypto-market regulation. The delay raises the risk that the CLARITY Act vote or related negotiations will be postponed. Congress Recess Plans Throw Another Roadblock Up for Crypto Bill
• Negative Sentiment: A Coinbase-backed Router Protocol will shut down and burn roughly 303 million ROUTE tokens after failing to find a sustainable business model. The direct financial impact on Coinbase is unclear, but the closure could raise concerns about risks associated with crypto investments and partnerships. Coinbase-Backed Crypto Project Burns 303 Million ROUTE Tokens

Coinbase Global Company 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.

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