Coinbase Global, Inc. $COIN Shares Sold by Strs Ohio

Key Points

• Strs Ohio cut its Coinbase stake by 32.4% in the first quarter, selling 22,108 shares and leaving it with 46,030 shares valued at about $8.0 million.
• Coinbase’s latest quarter missed expectations, reporting a loss of $1.49 per share versus a $0.06 profit estimate, while revenue fell 30.5% year over year to $1.41 billion.
• Analysts remain divided but see upside potential, with a consensus rating of “Hold” and an average price target of $250.65, even as some firms maintained bullish targets above current levels.

Strs Ohio lowered its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 32.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,030 shares of the cryptocurrency exchange's stock after selling 22,108 shares during the period. Strs Ohio's holdings in Coinbase Global were worth $8,037,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in COIN. Palisade Asset Management LLC acquired a new stake in Coinbase Global during the third quarter worth about $29,000. Foster Dykema Cabot & Partners LLC acquired a new position in Coinbase Global in the 3rd quarter valued at about $35,000. MV Capital Management Inc. purchased a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $27,000. Osbon Capital Management LLC acquired a new stake in shares of Coinbase Global during the 4th quarter worth approximately $30,000. Finally, JPL Wealth Management LLC acquired a new stake in shares of Coinbase Global during the 3rd quarter worth approximately $49,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $165.48 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.14 and a current ratio of 2.14. The stock has a market capitalization of $43.60 billion, a P/E ratio of 62.21, a PEG ratio of 5.84 and a beta of 3.35. The company has a 50 day moving average price of $177.11 and a 200 day moving average price of $192.43. Coinbase Global, Inc. has a fifty-two week low of $139.18 and a fifty-two week high of $444.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($1.55). Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The firm had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same period in the previous year, the firm earned $0.24 EPS. The firm's revenue for the quarter was down 30.5% compared to the same quarter last year. Equities research analysts forecast that Coinbase Global, Inc. will post 1.74 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on COIN shares. Wedbush set a $224.00 price objective on Coinbase Global in a report on Friday, May 8th. Monness Crespi & Hardt reissued a "sell" rating on shares of Coinbase Global in a research note on Friday, June 5th. Needham & Company LLC restated a "buy" rating and issued a $220.00 target price on shares of Coinbase Global in a research report on Wednesday, June 17th. Bank of America decreased their price target on Coinbase Global from $288.00 to $234.00 in a research note on Thursday, April 2nd. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $250.00 price target on shares of Coinbase Global in a report on Wednesday, June 17th. Eighteen analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Coinbase Global has an average rating of "Hold" and a consensus price target of $250.65.

Key Stories Impacting Coinbase Global

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

• Positive Sentiment: CEO Brian Armstrong has been highlighting progress on the Bitcoin Clarity Act and pushing for clearer U.S. crypto rules, which could help Coinbase if regulators create a more favorable operating environment. Coinbase Global Stock (COIN) Opinions on Regulatory Clarity and Market Pressures
• Positive Sentiment: Coinbase is being mentioned alongside major institutions in new blockchain and stablecoin initiatives, including Morpho’s $175 million funding round and a global stablecoin effort with Visa, Mastercard, and BNY, reinforcing Coinbase’s relevance in crypto infrastructure. Morpho Secures $175M Funding from Paradigm and a16z to Scale Blockchain Credit Infrastructure Global Stablecoin Initiative Launched by Visa, Mastercard, BNY, Coinbase, Others
• Positive Sentiment: Some analysts and market commentators continue to frame Coinbase as a core crypto infrastructure play, with recent buy ratings and price targets still implying meaningful upside versus the current share price. COIN Vs. MSTR: Buy Coinbase for Pure Exchange Fees and Structural Infrastructure Moats
• Neutral Sentiment: Crypto-linked stocks are seeing a broader bounce, and Coinbase is participating in the move, but the setup looks more like sector sympathy than a company-specific catalyst. Robinhood Jumps 6% on Bullish Analyst Initiations as Coinbase, Strategy Ride a Crypto-Stock Bounce
• Negative Sentiment: Coinbase’s latest reported quarterly revenue fell 30.5% year over year, and the company missed earnings and revenue expectations, which keeps pressure on the stock’s valuation. Coinbase Global Stock Performance
• Negative Sentiment: Insider activity remains a headwind, with 61 insider sales and no insider purchases over the past six months, which may be weighing on investor sentiment. Coinbase Global Stock (COIN) Opinions on Regulatory Clarity and Market Pressures
• Negative Sentiment: Technical commentary in the latest discussion notes repeated tests of support levels, with traders warning that a breakdown could send shares lower. Coinbase Global Stock (COIN) Opinions on Regulatory Clarity and Market Pressures

Insiders Place Their Bets

In other Coinbase Global news, Director Frederick R. Wilson sold 10,000 shares of Coinbase Global stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $181.54, for a total value of $1,815,400.00. Following the completion of the transaction, the director directly owned 30,000 shares of the company's stock, valued at $5,446,200. The trade was a 25.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,051 shares of Coinbase Global stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $158.15, for a total value of $324,365.65. 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. In the last three months, insiders sold 30,647 shares of company stock valued at $5,740,941. Insiders own 16.66% of the company's stock.

Coinbase Global 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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