VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $2.57 Million Investment in Coinbase Global, Inc. $COIN

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 17,551 shares of the cryptocurrency exchange's stock, valued at approximately $2,566,000.

A number of other hedge funds have also recently made changes to their positions in the business. Palisade Asset Management LLC bought a new position in Coinbase Global in the 3rd quarter valued at about $29,000. MV Capital Management Inc. acquired a new position in Coinbase Global during the 4th quarter valued at about $27,000. Osbon Capital Management LLC bought a new stake in Coinbase Global during the 4th quarter worth approximately $30,000. JPL Wealth Management LLC bought a new stake in Coinbase Global during the 3rd quarter worth approximately $49,000. Finally, Brooklands Fund Management Ltd purchased a new stake in shares of Coinbase Global in the fourth quarter worth approximately $34,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COIN has been the topic of several analyst reports. Robert W. Baird set a $130.00 target price on Coinbase Global in a research report on Friday, July 31st. Morgan Stanley initiated coverage on Coinbase Global in a research report on Thursday. They issued an "equal weight" rating and a $250.00 price target for the company. Compass Point restated a "sell" rating on shares of Coinbase Global in a research note on Monday, June 1st. B. Riley Financial cut their price objective on shares of Coinbase Global from $243.00 to $203.00 and set a "neutral" rating on the stock in a report on Monday, June 1st. Finally, Zacks Research lowered shares of Coinbase Global from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 5th. Eighteen analysts have rated the stock with a Buy rating, ten have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $218.74.

Coinbase Global Stock Down 1.4%

Coinbase Global stock opened at $172.28 on Friday. The firm has a 50 day moving average price of $165.24 and a 200-day moving average price of $175.91. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 0.45. Coinbase Global, Inc. has a twelve month low of $139.11 and a twelve month high of $402.16. The company has a market capitalization of $45.45 billion, a P/E ratio of -44.86 and a beta of 3.39.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data 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). Coinbase Global had a negative net margin of 15.72% and a positive return on equity of 3.12%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the company posted $5.14 earnings per share. Coinbase Global's revenue for the quarter was down 18.5% on a year-over-year basis. As a group, equities analysts predict 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 partnered with payments infrastructure provider Moov to bring stablecoin acceptance, settlement and real-time funding to more than 1,000 U.S. community banks and credit unions. The initiative could expand Coinbase’s institutional reach and create additional transaction and custody revenue opportunities. Coinbase partners with Moov to boost community bank stablecoin capabilities before Clarity vote
• Positive Sentiment: CEO Brian Armstrong said stablecoin payment flows could become a major growth driver, projecting significant expansion in the stablecoin market by 2030. He also argued that Bitcoin’s current cycle may have bottomed and reiterated that a $400,000 Bitcoin price by 2030 is a reasonable long-term target. These comments support the company’s growth narrative, although they are forecasts rather than new financial results. Coinbase CEO Confident Stablecoin Payments Will Fuel Growth
• Positive Sentiment: Management continues to broaden Coinbase beyond spot crypto trading through its “Everything Exchange” strategy, tokenized assets, prediction-market infrastructure for Kalshi and expanded USDC yield products in Brazil. Greater product diversification could reduce reliance on transaction revenue over time.
• Neutral Sentiment: Morgan Stanley initiated coverage with an Equal Weight rating and a $250 price target, reflecting substantial potential upside from recent levels but caution that Coinbase remains closely tied to the volatile crypto cycle. Morgan Stanley rates Coinbase as Hold equivalent, with price target set at $250
• Neutral Sentiment: Armstrong said U.S. crypto regulation could advance through SEC and CFTC rulemaking even if the Senate’s September 15 vote on the CLARITY Act fails. The prospect of eventual clarity is favorable, but the vote remains a near-term uncertainty for investors.
• Negative Sentiment: Director Marc Andreessen sold 13,676 shares worth approximately $2.5 million under a pre-arranged Rule 10b5-1 plan. The sale reduced his holdings by 1.19% and may weigh modestly on sentiment, despite being scheduled in advance. SEC insider transaction filing
• Negative Sentiment: Bitcoin’s recent decline and broader crypto-market weakness are immediate headwinds for Coinbase’s trading activity, revenue and earnings outlook. The company’s latest reported quarter also showed an earnings and revenue miss, underscoring ongoing operating sensitivity to market conditions.

Insider Activity

In related news, Director Marc L. Andreessen sold 13,676 shares of the business's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $181.14, for a total value of $2,477,270.64. Following the sale, the director directly owned 1,136,324 shares in the company, valued at approximately $205,833,729.36. The trade was a 1.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 35,068 shares of the business's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $144.32, for a total value of $5,061,013.76. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 70,806 shares of company stock valued at $11,307,687 in the last 90 days. Insiders own 16.66% of the company's stock.

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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