California State Teachers Retirement System increased its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 14,352.9% during the 2nd quarter, Holdings Channel reports. The firm owned 46,883,279 shares of the cryptocurrency exchange’s stock after buying an additional 46,558,893 shares during the period. California State Teachers Retirement System owned approximately 0.18% of Coinbase Global worth $6,853,867,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the business. Archer Investment Corp bought a new position in Coinbase Global during the 2nd quarter valued at approximately $26,000. MV Capital Management Inc. bought a new stake in shares of Coinbase Global in the 4th quarter worth approximately $27,000. Palisade Asset Management LLC purchased a new position in shares of Coinbase Global during the third quarter valued at approximately $29,000. Osbon Capital Management LLC purchased a new position in shares of Coinbase Global during the fourth quarter valued at approximately $30,000. Finally, Glen Eagle Advisors LLC increased its stake in shares of Coinbase Global by 101.1% during the first quarter. Glen Eagle Advisors LLC now owns 175 shares of the cryptocurrency exchange’s stock valued at $31,000 after buying an additional 88 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.
More Coinbase Global News
Here are the key news stories impacting Coinbase Global this week:
- Positive Sentiment: Coinbase selected ION’s XTP for Event Contracts to support clearing for Kalshi, strengthening the company’s infrastructure as it expands into prediction markets. The partnership could create additional transaction and technology revenue opportunities. ION partners with Coinbase to support Kalshi’s event contracts
- Positive Sentiment: Coinbase is expanding its Morpho-powered DeFi Earn product to Brazil, allowing eligible customers to earn additional rewards on USDC without a lock-up period. The move supports international growth and could increase stablecoin balances and on-chain activity. Coinbase Expands USDC Stablecoin Rewards via Morpho Onchain Lending to Brazil
- Positive Sentiment: Coinbase continues to promote tokenized stocks and on-chain finance, positioning itself for potential growth if digital-asset regulation becomes clearer and traditional financial products move onto blockchain networks. CLARITY Act Senate Vote Set for September 15 as Coinbase Pushes Tokenized Stocks
- Neutral Sentiment: The Senate’s planned September 15 procedural vote on the CLARITY Act is a major near-term catalyst. Passage could provide regulatory clarity, but the bill may lack the 60 votes needed to advance, leaving the timing and impact uncertain. CLARITY Act Vote Hinges on Critical Ethics Talks For Democrat Support
- Neutral Sentiment: Coinbase’s investor presentation at the Goldman Sachs Communacopia and Technology Conference kept management’s strategy in focus, but the transcript headline provides no specific new earnings guidance or material forecast revision. Coinbase Global Presents at Goldman Sachs Conference
- Negative Sentiment: Congressional scheduling changes and an early recess could delay consideration of crypto-market legislation, extending regulatory uncertainty for Coinbase and other digital-asset businesses. Congress Recess Plans Throws Another Roadblock Up for Crypto Bill
- Negative Sentiment: Zcash’s sharp rally highlights investor interest in privacy-focused cryptocurrencies, potentially diverting speculative capital from Coinbase’s broader trading ecosystem and emphasizing the volatility of crypto-asset demand. Zcash Is Up More Than 2,000% in a Year
Insider Transactions at Coinbase Global
Analysts Set New Price Targets
A number of analysts recently commented on the company. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $330.00 price target on shares of Coinbase Global in a research note on Friday, July 31st. The Goldman Sachs Group boosted their price objective on shares of Coinbase Global from $196.00 to $219.00 and gave the company a “buy” rating in a research report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $212.00 target price on shares of Coinbase Global in a research report on Monday, August 31st. HC Wainwright reaffirmed a “buy” rating and issued a $265.00 target price on shares of Coinbase Global in a research report on Friday, July 31st. Finally, UBS Group set a $155.00 target price on shares of Coinbase Global in a research note on Friday, July 31st. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and a consensus target price of $217.66.
View Our Latest Research Report on Coinbase Global
Coinbase Global Price Performance
Shares of COIN stock opened at $174.72 on Thursday. The stock has a market cap of $46.10 billion, a price-to-earnings ratio of -45.50 and a beta of 3.39. The business’s fifty day moving average is $165.10 and its 200 day moving average is $175.91. Coinbase Global, Inc. has a twelve month low of $139.11 and a twelve month high of $402.16. 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 (NASDAQ:COIN – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.92). The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.29 billion. Coinbase Global had a positive return on equity of 3.12% and a negative net margin of 15.72%.Coinbase Global’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same quarter last year, the company posted $5.14 EPS. Research analysts expect that Coinbase Global, Inc. will post -0.39 EPS for the current fiscal year.
Coinbase Global 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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