State Board of Administration of Florida Retirement System Sells 10,230 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

State Board of Administration of Florida Retirement System lessened its stake in shares of Coinbase Global, Inc. (NASDAQ:COINFree 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

In related news, CFO Alesia J. Haas sold 1,000 shares of Coinbase Global stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $175.00, for a total transaction of $175,000.00. Following the completion of the sale, the chief financial officer now owns 278,784 shares of the company’s stock, valued at $48,787,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Alesia J. Haas sold 1,000 shares of Coinbase Global stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $175.00, for a total transaction of $175,000.00. Following the completion of the sale, the chief financial officer now owns 278,784 shares of the company’s stock, valued at $48,787,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lawrence J. Brock sold 104,767 shares of Coinbase Global stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $175.20, for a total value of $18,355,178.40. Following the sale, the insider now directly owns 11,089 shares of the company’s stock, valued at approximately $1,942,792.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,328,077 shares of company stock worth $184,096,220. Insiders own 33.16% of the company’s stock.

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.

View Our Latest Analysis on COIN

About Coinbase Global

(Free Report)

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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Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

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