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

State of Alaska Department of Revenue lifted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 456.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 121,330 shares of the cryptocurrency exchange’s stock after purchasing an additional 99,536 shares during the period. State of Alaska Department of Revenue’s holdings in Coinbase Global were worth $22,617,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Paradigm Operations LP raised its holdings in Coinbase Global by 3.3% during the fourth 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 in the last quarter. Bank of New York Mellon Corp acquired a new position in Coinbase Global in the 2nd quarter valued at $142,995,000. Hsbc Holdings PLC lifted its position in Coinbase Global by 10.6% in the fourth quarter. Hsbc Holdings PLC now owns 482,427 shares of the cryptocurrency exchange’s stock valued at $109,635,000 after purchasing an additional 46,319 shares during the period. Southpoint Capital Advisors LP purchased a new stake in shares of Coinbase Global in the first quarter valued at approximately $104,766,000. Finally, National Pension Service grew its position in Coinbase Global by 117.1% during the second quarter. National Pension Service now owns 641,518 shares of the cryptocurrency exchange’s stock worth $93,784,000 after buying an additional 346,045 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Coinbase Global

In other Coinbase Global news, Director Marc L. Andreessen sold 13,676 shares of the business’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $186.18, for a total value of $2,546,197.68. Following the transaction, the director directly owned 1,115,810 shares in the company, valued at $207,741,505.80. The trade was a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alesia J. Haas sold 39,030 shares of Coinbase Global stock in a transaction on Monday, September 21st. The shares were sold at an average price of $205.24, for a total value of $8,010,517.20. Following the completion of the transaction, the chief financial officer owned 345,376 shares of the company’s stock, valued at approximately $70,884,970.24. The trade was a 10.15% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 127,188 shares of company stock valued at $23,029,558 in the last ninety days. 16.66% of the stock is owned by company insiders.

Coinbase Global News Roundup

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

Coinbase Global Stock Up 3.9%

Shares of COIN traded up $6.83 during midday trading on Thursday, reaching $179.72. 4,359,898 shares of the stock were exchanged, compared to its average volume of 10,133,083. The company has a market cap of $47.42 billion, a price-to-earnings ratio of -46.83 and a beta of 3.41. Coinbase Global, Inc. has a 12-month low of $139.11 and a 12-month high of $373.25. The firm has a 50 day simple moving average of $177.09 and a 200-day simple moving average of $174.97. 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) last posted 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). Coinbase Global had a negative net margin of 15.72% and a positive return on equity of 3.12%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the business earned $5.14 earnings per share. Coinbase Global’s quarterly revenue was down 18.5% on a year-over-year basis. Research analysts forecast that Coinbase Global, Inc. will post -0.50 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on COIN shares. Weiss Ratings upgraded Coinbase Global from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. William Blair reaffirmed an “outperform” rating on shares of Coinbase Global in a report on Tuesday, September 22nd. Wolfe Research set a $325.00 price objective on shares of Coinbase Global in a research note on Thursday, July 9th. HC Wainwright reaffirmed a “buy” rating and set a $265.00 price objective on shares of Coinbase Global in a research report on Friday, July 31st. Finally, Zacks Research raised shares of Coinbase Global from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 9th. Twenty analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $224.44.

Coinbase Global Profile

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.