California State Teachers Retirement System Acquires 46,558,893 Shares of Coinbase Global, Inc. $COIN

Key Points

• California State Teachers Retirement System dramatically increased its Coinbase stake, purchasing 46.6 million additional shares in the second quarter. It now owns 46.9 million shares, representing 17.77% of Coinbase and approximately $6.85 billion in value.
• Coinbase reported weaker-than-expected quarterly results, with a loss of $1.36 per share versus the projected $0.44 loss and revenue of $1.22 billion versus $1.29 billion expected. Revenue fell 18.5% year over year, and analysts forecast a full-year loss of $0.39 per share.
• Analyst sentiment remains mixed: 18 analysts rate the stock a Buy, nine a Hold and five a Sell, producing a consensus Hold rating and an average price target of $217.66. Coinbase shares opened at $174.72, well below their 12-month high of $402.16.

California State Teachers Retirement System lifted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 14,352.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,883,279 shares of the cryptocurrency exchange's stock after purchasing an additional 46,558,893 shares during the quarter. California State Teachers Retirement System owned 17.77% of Coinbase Global worth $6,853,867,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of COIN. Archer Investment Corp bought a new stake in Coinbase Global during the second quarter valued at approximately $26,000. MV Capital Management Inc. purchased a new stake in shares of Coinbase Global during the 4th quarter valued at $27,000. Palisade Asset Management LLC purchased a new stake in shares of Coinbase Global during the 3rd quarter valued at $29,000. Osbon Capital Management LLC bought a new stake in shares of Coinbase Global during the 4th quarter worth $30,000. Finally, Glen Eagle Advisors LLC lifted its holdings in shares of Coinbase Global by 101.1% during the 1st quarter. Glen Eagle Advisors LLC now owns 175 shares of the cryptocurrency exchange's stock worth $31,000 after acquiring an additional 88 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on COIN. Rosenblatt Securities reissued a "buy" rating and issued a $240.00 target price on shares of Coinbase Global in a research note on Tuesday, July 28th. Weiss Ratings lowered Coinbase Global from a "hold (c-)" rating to a "sell (d)" rating in a research note on Friday, July 31st. HC Wainwright reiterated a "buy" rating and issued a $265.00 price objective on shares of Coinbase Global in a report on Friday, July 31st. Oppenheimer reduced their price objective on Coinbase Global from $209.00 to $193.00 and set an "outperform" rating on the stock in a research report on Friday, July 31st. Finally, Monness Crespi & Hardt reissued a "sell" rating on shares of Coinbase Global in a report on Friday, June 5th. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $217.66.

Coinbase Global Stock Performance

Coinbase Global stock opened at $174.72 on Thursday. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $46.10 billion, a PE ratio of -45.50 and a beta of 3.39. The firm has a fifty day simple moving average of $165.10 and a two-hundred day simple moving average of $175.91. Coinbase Global, Inc. has a twelve month low of $139.11 and a twelve month high of $402.16.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly 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 business had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.29 billion. During the same quarter in the previous year, the company earned $5.14 earnings per share. The business's quarterly revenue was down 18.5% on a year-over-year basis. Research analysts expect that Coinbase Global, Inc. will post -0.39 EPS for the current year.

More Coinbase Global News

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

• Positive Sentiment: Coinbase selected ION’s XTP for Event Contracts to support clearing for Kalshi, strengthening the company’s infrastructure as it expands into prediction markets. The partnership could create additional transaction and technology revenue opportunities. ION partners with Coinbase to support Kalshi's event contracts
• Positive Sentiment: Coinbase is expanding its Morpho-powered DeFi Earn product to Brazil, allowing eligible customers to earn additional rewards on USDC without a lock-up period. The move supports international growth and could increase stablecoin balances and on-chain activity. Coinbase Expands USDC Stablecoin Rewards via Morpho Onchain Lending to Brazil
• Positive Sentiment: Coinbase continues to promote tokenized stocks and on-chain finance, positioning itself for potential growth if digital-asset regulation becomes clearer and traditional financial products move onto blockchain networks. CLARITY Act Senate Vote Set for September 15 as Coinbase Pushes Tokenized Stocks
• Neutral Sentiment: The Senate’s planned September 15 procedural vote on the CLARITY Act is a major near-term catalyst. Passage could provide regulatory clarity, but the bill may lack the 60 votes needed to advance, leaving the timing and impact uncertain. CLARITY Act Vote Hinges on Critical Ethics Talks For Democrat Support
• Neutral Sentiment: Coinbase’s investor presentation at the Goldman Sachs Communacopia and Technology Conference kept management’s strategy in focus, but the transcript headline provides no specific new earnings guidance or material forecast revision. Coinbase Global Presents at Goldman Sachs Conference
• Negative Sentiment: Congressional scheduling changes and an early recess could delay consideration of crypto-market legislation, extending regulatory uncertainty for Coinbase and other digital-asset businesses. Congress Recess Plans Throws Another Roadblock Up for Crypto Bill
• Negative Sentiment: Zcash’s sharp rally highlights investor interest in privacy-focused cryptocurrencies, potentially diverting speculative capital from Coinbase’s broader trading ecosystem and emphasizing the volatility of crypto-asset demand. Zcash Is Up More Than 2,000% in a Year

Insider Transactions at Coinbase Global

In related news, Director Frederick Wilson sold 10,000 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $178.93, for a total transaction of $1,789,300.00. The sale was disclosed in a legal 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, CAO Jennifer Jones sold 2,062 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $188.75, for a total value of $389,202.50. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 57,130 shares of company stock valued at $8,830,416. 16.66% of the stock is currently owned by corporate insiders.

Coinbase Global Company Profile

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.

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