Coinbase Global, Inc. $COIN Shares Purchased by Allstate Corp

Key Points

• Allstate Corp more than doubled its Coinbase stake in the fourth quarter, buying 7,903 additional shares and bringing its total holding to 15,261 shares valued at about $3.45 million.
• Institutional interest in Coinbase remains high, with hedge funds and other investors continuing to add or adjust positions; overall, institutions own 68.84% of the company’s stock.
• Coinbase is rolling out new products and partnerships, including a Standard Chartered tie-up for multi-currency institutional funding, an AI-linked wallet tool for Base, and an upgraded direct deposit feature that can split paychecks between cash and crypto.

Allstate Corp lifted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 107.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,261 shares of the cryptocurrency exchange's stock after purchasing an additional 7,903 shares during the period. Allstate Corp's holdings in Coinbase Global were worth $3,451,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Coinbase Global by 179.7% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 621 shares of the cryptocurrency exchange's stock valued at $140,000 after purchasing an additional 399 shares during the period. Clearstead Advisors LLC increased its holdings in Coinbase Global by 61.5% during the 4th quarter. Clearstead Advisors LLC now owns 1,066 shares of the cryptocurrency exchange's stock valued at $241,000 after acquiring an additional 406 shares in the last quarter. Churchill Financial Advisors LLC purchased a new position in Coinbase Global during the 4th quarter valued at about $337,000. Legal & General Group Plc increased its holdings in Coinbase Global by 1.4% during the 4th quarter. Legal & General Group Plc now owns 1,210,082 shares of the cryptocurrency exchange's stock valued at $273,648,000 after acquiring an additional 16,298 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in Coinbase Global during the 4th quarter valued at about $2,786,000. Institutional investors and hedge funds own 68.84% of the company's stock.

Coinbase Global News Roundup

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

• Positive Sentiment: Coinbase expanded its institutional fiat infrastructure through a partnership with Standard Chartered, adding multi-currency funding support in six major currencies. The move should make deposits, withdrawals, and settlement easier for global institutional clients and could support longer-term trading volume. Coinbase, Standard Chartered Partner to Add 6 Currency Access
• Positive Sentiment: Coinbase also pushed further into AI-linked crypto payments with Base MCP, a tool that lets AI assistants like ChatGPT and Claude interact with wallets and execute on-chain actions. That could help position Coinbase’s Base network in an emerging “agentic commerce” trend. Base launches new tool to connect crypto wallets to AI agents
• Positive Sentiment: Coinbase upgraded its U.S. Direct Deposit product, allowing customers to automatically split paychecks between cash and crypto. This could improve user engagement and make recurring investing easier. Coinbase Automates Crypto Investing via Upgraded Direct Deposit
• Neutral Sentiment: Several commentary pieces suggest COIN may be stuck in a trading range and that valuations remain dependent on sustained crypto-market momentum rather than just product announcements. Stock Of The Day: Is This The New Range For Coinbase?
• Neutral Sentiment: Analysts also highlighted weakness in Bitcoin demand and negative Coinbase Premium signals, which point to softer crypto buying interest and can weigh on Coinbase’s near-term trading and transaction outlook. Sell in May and Walk Away” Plays Out as Bitcoin Flashes Bearish Signals
• Negative Sentiment: Insider selling from Lawrence J. Brock may be read cautiously by investors, even though the transaction was made under a pre-arranged trading plan. Coinbase Global Price Performance

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 6,616 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $189.01, for a total transaction of $1,250,490.16. Following the completion of the sale, the insider directly owned 517 shares in the company, valued at $97,718.17. The trade was a 92.75% decrease in their ownership of the stock. The transaction was disclosed in a 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, CFO Alesia J. Haas sold 10,020 shares of the business's stock in a transaction that occurred on 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 sale, the chief financial officer owned 377,201 shares of the company's stock, valued at approximately $75,440,200. This represents a 2.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 36,606 shares of company stock valued at $7,264,410. 16.66% of the stock is owned by insiders.

Coinbase Global Price Performance

COIN opened at $173.78 on Thursday. The company has a quick ratio of 2.34, a current ratio of 2.14 and a debt-to-equity ratio of 0.44. Coinbase Global, Inc. has a 52-week low of $139.36 and a 52-week high of $444.64. The company has a 50 day moving average of $189.42 and a two-hundred day moving average of $213.23. The company has a market cap of $45.78 billion, a P/E ratio of 65.33, a P/E/G ratio of 6.44 and a beta of 3.38.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($1.55). Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The business had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter in the prior year, the firm earned $0.24 earnings per share. Coinbase Global's quarterly revenue was down 30.5% compared to the same quarter last year. On average, analysts expect that Coinbase Global, Inc. will post 1.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on COIN shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Coinbase Global from $206.00 to $205.00 and set a "buy" rating for the company in a report on Friday, May 8th. Cantor Fitzgerald lifted their price target on shares of Coinbase Global from $221.00 to $250.00 and gave the stock an "overweight" rating in a report on Tuesday, April 21st. President Capital lifted their price target on shares of Coinbase Global from $236.00 to $264.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. Weiss Ratings downgraded shares of Coinbase Global from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, May 11th. Finally, Mizuho lifted their price target on shares of Coinbase Global from $170.00 to $200.00 and gave the stock a "neutral" rating in a report on Tuesday, May 12th. Nineteen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $252.20.

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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