Louisiana State Employees Retirement System Invests $1.99 Million in Coinbase Global, Inc. $COIN

Key Points

• Louisiana State Employees Retirement System bought 11,400 shares of Coinbase Global in the first quarter, a stake worth about $1.99 million.
• Institutional ownership remains high, with hedge funds and other investors actively adjusting positions and 68.84% of Coinbase stock now held by institutions.
• Coinbase’s latest earnings disappointed, as the company reported a loss of $1.49 per share and revenue fell 30.5% year over year, even as analysts currently rate the stock a consensus Hold.

Louisiana State Employees Retirement System purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,400 shares of the cryptocurrency exchange's stock, valued at approximately $1,991,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC grew its holdings in shares of Coinbase Global by 24.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange's stock valued at $365,000 after acquiring an additional 413 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Coinbase Global by 25.8% during the first quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange's stock worth $1,478,000 after acquiring an additional 1,761 shares in the last quarter. Focus Partners Wealth boosted its position in Coinbase Global by 9.9% during the first quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange's stock valued at $896,000 after purchasing an additional 467 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Coinbase Global during the second quarter valued at $285,000. Finally, Cerity Partners LLC boosted its position in Coinbase Global by 8.6% during the second quarter. Cerity Partners LLC now owns 17,694 shares of the cryptocurrency exchange's stock valued at $6,203,000 after purchasing an additional 1,402 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $146.19 on Wednesday. The stock has a market capitalization of $38.52 billion, a P/E ratio of 54.96, a P/E/G ratio of 5.35 and a beta of 3.32. The business has a 50-day moving average of $179.58 and a two-hundred day moving average of $194.52. Coinbase Global, Inc. has a fifty-two week low of $139.18 and a fifty-two week high of $444.64. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.14.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($1.55). The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.49 billion. Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The business's revenue was down 30.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 EPS. On average, equities research analysts predict that Coinbase Global, Inc. will post 1.74 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on COIN shares. Weiss Ratings raised Coinbase Global from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, May 29th. Sanford C. Bernstein reduced their price target on Coinbase Global from $440.00 to $330.00 and set an "outperform" rating for the company in a report on Monday, March 30th. Cantor Fitzgerald reissued an "overweight" rating and issued a $250.00 price target on shares of Coinbase Global in a research note on Wednesday, June 17th. Compass Point restated a "sell" rating on shares of Coinbase Global in a report on Monday, June 1st. Finally, President Capital raised their price objective on shares of Coinbase Global from $236.00 to $264.00 and gave the company a "buy" rating in a research report on Tuesday, May 12th. Eighteen investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Coinbase Global currently has an average rating of "Hold" and an average target price of $250.65.

Coinbase Global News Summary

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

• Positive Sentiment: Coinbase is gaining visibility from the launch of Open USD, a new stablecoin backed by more than 140 companies including Visa, Mastercard, BlackRock, Stripe, and Coinbase. The initiative could expand Coinbase’s role in payments, stablecoin infrastructure, and institutional crypto adoption. 140 Firms Including Coinbase and Ripple Launch the New Open USD Stablecoin
• Positive Sentiment: Coinbase also announced a partnership with Spiko to support USDC and EURC payments for European regulated treasury funds, showing continued progress in real-world stablecoin use cases and Base network adoption. Spiko links EU regulated T-bill funds to Coinbase stablecoin rails
• Neutral Sentiment: Coinbase Institutional Strategy Head John D’Agostino said more than 40 countries have committed to bitcoin in some form, reinforcing the long-term bull case for crypto demand, though the comments are more macro commentary than a direct business catalyst. Coinbase Institutional Head: ‘Over 40 Countries Commit to Buying Bitcoin’
• Negative Sentiment: Coinbase’s Base blockchain suffered an outage that briefly halted consensus and interrupted transactions, raising questions about network reliability and centralization risk. Coinbase (COIN) Faces Questions After Base Outage Halts Its Blockchain Network
• Negative Sentiment: Broader crypto sentiment remains weak, with bitcoin trading lower and multiple articles pointing to ongoing pressure in digital assets. That backdrop can weigh on Coinbase because its trading revenue is tied to crypto activity and prices. Bitcoin Holds Below $60,000 as Cryptos Slide

Insider Activity

In other Coinbase Global news, CAO Jennifer N. Jones sold 2,051 shares of Coinbase Global stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $158.15, for a total value of $324,365.65. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Grewal sold 1,960 shares of the firm's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $176.88, for a total transaction of $346,684.80. Following the completion of the sale, the insider owned 84,753 shares in the company, valued at approximately $14,991,110.64. The trade was a 2.26% decrease in their position. 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 30,647 shares of company stock worth $5,740,941 over the last 90 days. Company insiders own 16.66% of the company's stock.

About Coinbase Global

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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