Coinbase Global, Inc. $COIN Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lessened its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 58.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 7,246 shares of the cryptocurrency exchange’s stock after selling 10,341 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Coinbase Global were worth $1,265,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new position in Coinbase Global during the 4th quarter worth $656,744,000. Capital World Investors raised its stake in Coinbase Global by 847.2% in the fourth quarter. Capital World Investors now owns 1,536,534 shares of the cryptocurrency exchange’s stock valued at $347,472,000 after buying an additional 1,374,318 shares during the last quarter. Ruffer LLP acquired a new stake in Coinbase Global in the fourth quarter worth about $166,515,000. Janus Henderson Group PLC boosted its holdings in Coinbase Global by 2,597.8% in the fourth quarter. Janus Henderson Group PLC now owns 549,304 shares of the cryptocurrency exchange’s stock worth $124,221,000 after acquiring an additional 528,943 shares in the last quarter. Finally, Cria Inc. purchased a new stake in shares of Coinbase Global during the fourth quarter worth about $111,184,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global News Summary

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

• Positive Sentiment: Coinbase is benefiting from renewed optimism around U.S. crypto legislation, with the CLARITY Act reportedly close to a Senate floor vote. CEO Brian Armstrong said the bill is ready for full Senate consideration, and advocacy group Stand With Crypto said supporters made 950,000 contacts with lawmakers, reinforcing hopes for clearer digital-asset rules. Article: 950K Contacts Back CLARITY Act as Coinbase CEO Says Bill Is Ready for Full Senate Vote
• Positive Sentiment: The SEC agreed to pay $150,000 to settle Coinbase’s FOIA lawsuit over lost agency messages, which is a symbolic legal win and supports Coinbase’s broader criticism of the regulator. Article: US SEC settles FOIA lawsuit with Coinbase over lost messages, WSJ op-ed says
• Positive Sentiment: Coinbase is also expanding its product vision, including tokenized equities and an “Everything Exchange” push in Canada, which could support long-term growth if regulators approve the rollout. Article: Coinbase Wants to Be Canada’s One-Stop Shop for Stocks, Crypto and Prediction Markets
• Neutral Sentiment: Coinbase is being discussed more heavily by investors and media, but some of the coverage is commentary or interview-based rather than a direct business catalyst. Article: Coinbase’s John D’Agostino on why tokenized equities could transform investing
• Negative Sentiment: Raymond James initiated coverage with a “Market Perform” rating, citing valuation concerns and limited upside. That lukewarm view weighed on Coinbase shares and likely contributed to today’s weakness. Article: Coinbase Settles Records Lawsuit With the SEC: $150,000 and a Retention Overhaul
• Negative Sentiment: Investors are also focusing on leadership turnover, after Coinbase’s chief legal officer said he will step down at the end of July, adding another layer of uncertainty. Article: Coinbase Global (COIN) Faces A Legal Shake Up, Is It Still A Bargain?

Analysts Set New Price Targets

Several equities analysts have recently issued reports on COIN shares. JPMorgan Chase & Co. upped their price objective on shares of Coinbase Global from $252.00 to $290.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Wolfe Research set a $325.00 target price on shares of Coinbase Global in a research note on Thursday, July 9th. President Capital boosted their target price on shares of Coinbase Global from $236.00 to $264.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Rothschild & Co Redburn upped their price target on shares of Coinbase Global from $254.00 to $263.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Finally, Compass Point reaffirmed a “sell” rating on shares of Coinbase Global in a report on Monday, June 1st. 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.com, Coinbase Global presently has an average rating of “Hold” and a consensus target price of $245.39.

Coinbase Global Stock Down 5.5%

Shares of COIN stock opened at $166.12 on Thursday. Coinbase Global, Inc. has a fifty-two week low of $139.18 and a fifty-two week high of $405.31. The firm has a market capitalization of $43.77 billion, a PE ratio of 62.45, a P/E/G ratio of 11.34 and a beta of 3.35. 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’s 50-day simple moving average is $167.94 and its 200-day simple moving average is $185.46.

Coinbase Global (NASDAQ:COIN) last released its earnings results 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 firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The company’s revenue for the quarter was down 30.5% compared to the same quarter last year. During the same period last year, the firm earned $0.24 EPS. Equities analysts expect that Coinbase Global, Inc. will post 1.41 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other news, insider Lawrence J. Brock sold 6,616 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $189.01, for a total value of $1,250,490.16. Following the sale, the insider directly owned 517 shares of the company’s stock, valued at $97,718.17. This represents a 92.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 10,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $181.54, for a total transaction of $1,815,400.00. Following the completion of the sale, the director owned 30,000 shares in the company, valued at $5,446,200. The trade was a 25.00% 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. Over the last quarter, insiders sold 30,627 shares of company stock valued at $5,327,841. 16.66% of the stock is owned by corporate insiders.

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.