State Board of Administration of Florida Retirement System lessened its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN – Free Report) by 5.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 183,975 shares of the cryptocurrency exchange’s stock after selling 10,230 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.08% of Coinbase Global worth $13,813,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Coinbase Global by 19.8% in the third quarter. Vanguard Group Inc. now owns 12,786,266 shares of the cryptocurrency exchange’s stock worth $824,587,000 after purchasing an additional 2,110,196 shares during the period. Norges Bank purchased a new stake in Coinbase Global in the fourth quarter worth $50,254,000. Renaissance Technologies LLC increased its stake in Coinbase Global by 84.7% in the second quarter. Renaissance Technologies LLC now owns 3,057,000 shares of the cryptocurrency exchange’s stock worth $218,728,000 after purchasing an additional 1,402,169 shares during the period. Quadrature Capital Ltd purchased a new stake in Coinbase Global in the second quarter worth $93,815,000. Finally, Contrarius Investment Management Ltd bought a new position in shares of Coinbase Global during the 2nd quarter worth $62,194,000. Hedge funds and other institutional investors own 45.96% of the company’s stock.
Coinbase Global Price Performance
Shares of COIN stock opened at $141.99 on Monday. Coinbase Global, Inc. has a fifty-two week low of $46.43 and a fifty-two week high of $187.39. The firm has a market capitalization of $33.97 billion, a price-to-earnings ratio of -43.96 and a beta of 3.14. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05. The stock’s 50-day simple moving average is $144.40 and its 200-day simple moving average is $105.83.
Insider Transactions at Coinbase Global
Analyst Ratings Changes
A number of research firms have recently issued reports on COIN. JMP Securities increased their price target on Coinbase Global from $107.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, December 22nd. Oppenheimer raised Coinbase Global from a “market perform” rating to an “outperform” rating and set a $160.00 price target on the stock in a research report on Friday, January 26th. Mizuho increased their price target on Coinbase Global from $54.00 to $60.00 and gave the stock an “underperform” rating in a research report on Thursday, January 18th. JPMorgan Chase & Co. downgraded Coinbase Global from a “neutral” rating to an “underweight” rating and set a $80.00 price target on the stock. in a research report on Tuesday, January 23rd. Finally, Needham & Company LLC increased their price target on Coinbase Global from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, January 8th. Seven analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $103.68.
About Coinbase Global
Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. It offers the primary financial account in the cryptoeconomy for consumers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment.
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