Coinbase Global, Inc. $COIN Stock Position Boosted by State of Alaska Department of Revenue

Key Points

• State of Alaska Department of Revenue increased its Coinbase position by 456.7% in the third quarter, holding 121,330 shares valued at approximately $22.6 million. Institutional investors collectively own 68.84% of COIN.
• Analyst sentiment is mixed: 20 analysts rate the stock a Buy, 13 recommend Hold and three recommend Sell, resulting in a consensus Hold rating and an average price target of $224.44.
• Coinbase shares rose 3.9% to $179.72, but the company reported a quarterly loss of $1.36 per share and revenue of $1.22 billion, below analyst expectations; revenue declined 18.5% year over year.

State of Alaska Department of Revenue boosted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 456.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,330 shares of the cryptocurrency exchange's stock after buying an additional 99,536 shares during the quarter. State of Alaska Department of Revenue's holdings in Coinbase Global were worth $22,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new position in shares of Coinbase Global during the second quarter valued at $142,995,000. Southpoint Capital Advisors LP purchased a new stake in Coinbase Global during the first quarter valued at $104,766,000. National Pension Service lifted its stake in shares of Coinbase Global by 117.1% in the 2nd quarter. National Pension Service now owns 641,518 shares of the cryptocurrency exchange's stock worth $93,784,000 after purchasing an additional 346,045 shares during the period. Paradigm Operations LP raised its holdings in Coinbase Global by 3.3% in the 4th quarter. Paradigm Operations LP now owns 4,262,458 shares of the cryptocurrency exchange's stock worth $963,912,000 after purchasing an additional 134,425 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Coinbase Global by 366.7% during the second quarter. Assenagon Asset Management S.A. now owns 154,702 shares of the cryptocurrency exchange's stock valued at $22,616,000 after purchasing an additional 121,552 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

COIN has been the topic of a number of analyst reports. Raymond James Financial began coverage on Coinbase Global in a research report on Wednesday, July 22nd. They set a "market perform" rating on the stock. Needham & Company LLC reduced their target price on shares of Coinbase Global from $220.00 to $177.00 and set a "buy" rating for the company in a report on Friday, July 31st. Citizens Jmp decreased their target price on shares of Coinbase Global from $325.00 to $280.00 and set a "market outperform" rating on the stock in a research note on Friday, October 9th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $330.00 price target on shares of Coinbase Global in a research report on Friday, July 31st. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $300.00 price objective on shares of Coinbase Global in a research note on Friday, July 31st. Twenty equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $224.44.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: The SEC reportedly approved standardized binary options tied to metrics such as Coinbase trading volume. The products could expand regulated investor exposure to crypto activity without requiring direct token ownership, potentially creating additional opportunities for Coinbase’s trading ecosystem. SEC Crypto: What do the Coinbase and MARA Binary Options Mean?
• Positive Sentiment: Coinbase’s short-term crypto prediction markets are gaining attention and could become a new source of transaction revenue, although the product also carries customer-loss and regulatory risks. 15-Minute Markets For Cryptocurrency Prices Are Surging in Popularity
• Positive Sentiment: Coinbase’s participation in a U.S.-U.K. operation targeting West African crypto scams highlights its compliance and investigative capabilities, potentially supporting institutional trust and its regulatory standing. Coinbase Joins DOJ and UK Crime Agency to Target West Africa Crypto Scams

Insider Transactions at Coinbase Global

In other news, Director Marc Andreessen sold 6,838 shares of the company's stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $198.00, for a total value of $1,353,924.00. Following the completion of the sale, the director owned 1,108,972 shares of the company's stock, valued at approximately $219,576,456. This represents a 0.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick Wilson sold 10,000 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $178.93, for a total transaction of $1,789,300.00. 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. Insiders have sold a total of 127,188 shares of company stock valued at $23,029,558 over the last 90 days. 16.66% of the stock is owned by corporate insiders.

Coinbase Global Trading Up 3.9%

Shares of Coinbase Global stock traded up $6.83 on Thursday, reaching $179.72. The company had a trading volume of 4,359,898 shares, compared to its average volume of 10,133,083. 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, Inc. has a 1 year low of $139.11 and a 1 year high of $373.25. The firm has a market cap of $47.42 billion, a price-to-earnings ratio of -46.83 and a beta of 3.41. The firm's 50-day moving average price is $177.09 and its two-hundred day moving average price is $174.97.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.92). The firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.29 billion. Coinbase Global had a negative net margin of 15.72% and a positive return on equity of 3.12%. The company's revenue was down 18.5% compared to the same quarter last year. During the same period in the prior year, the company posted $5.14 EPS. As a group, research analysts predict that Coinbase Global, Inc. will post -0.50 earnings per share for the current fiscal year.

About Coinbase Global

Coinbase Global, Inc operates a digital-asset platform that enables individuals, businesses and institutions to buy, sell, store and use cryptocurrencies. Its services include a cryptocurrency exchange, digital-asset custody, staking and related trading products, as well as tools designed to support institutional participation in the crypto economy.

The company also offers Coinbase Wallet, a self-custody wallet that allows users to manage digital assets and interact with decentralized applications.

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