State Board of Administration of Florida Retirement System Lowers Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

State Board of Administration of Florida Retirement System cut its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 5.3% in the 3rd quarter, HoldingsChannel.com reports. 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’s holdings in Coinbase Global were worth $13,813,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in COIN. Fairfield Bush & CO. raised its holdings in shares of Coinbase Global by 18.4% in the first quarter. Fairfield Bush & CO. now owns 1,770 shares of the cryptocurrency exchange’s stock worth $336,000 after acquiring an additional 275 shares during the last quarter. United Bank acquired a new position in shares of Coinbase Global in the first quarter worth $286,000. Bank of New York Mellon Corp raised its holdings in shares of Coinbase Global by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 70,553 shares of the cryptocurrency exchange’s stock worth $13,394,000 after acquiring an additional 1,844 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Coinbase Global by 269.2% in the first quarter. American Century Companies Inc. now owns 7,147 shares of the cryptocurrency exchange’s stock worth $1,357,000 after acquiring an additional 5,211 shares during the last quarter. Finally, Synovus Financial Corp raised its holdings in shares of Coinbase Global by 26.6% in the first quarter. Synovus Financial Corp now owns 1,103 shares of the cryptocurrency exchange’s stock worth $209,000 after acquiring an additional 232 shares during the last quarter. 45.96% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $141.99 on Monday. Coinbase Global, Inc. has a 1-year low of $46.43 and a 1-year high of $187.39. The business has a 50-day moving average of $144.40 and a 200-day moving average of $105.83. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $33.97 billion, a price-to-earnings ratio of -43.96 and a beta of 3.14.

Insider Transactions at Coinbase Global

In other news, Director Gokul Rajaram sold 1,145 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $97.68, for a total value of $111,843.60. Following the completion of the sale, the director now owns 9,413 shares of the company’s stock, valued at $919,461.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, COO Emilie Choi sold 700 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $130.29, for a total value of $91,203.00. Following the transaction, the chief operating officer now owns 225,142 shares in the company, valued at $29,333,751.18. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,145 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $97.68, for a total value of $111,843.60. Following the completion of the transaction, the director now owns 9,413 shares in the company, valued at approximately $919,461.84. The disclosure for this sale can be found here. Insiders sold 1,328,077 shares of company stock valued at $184,096,220 over the last quarter. Company insiders own 33.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on COIN shares. JMP Securities lifted their price objective on Coinbase Global from $107.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, December 22nd. Citigroup lifted their price objective on Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a research report on Friday, January 19th. Oppenheimer raised Coinbase Global from a “market perform” rating to an “outperform” rating and set a $160.00 price objective for the company in a research report on Friday, January 26th. Wedbush lifted their price objective on Coinbase Global from $110.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, January 11th. Finally, Mizuho lifted their price objective on Coinbase Global from $54.00 to $60.00 and gave the company an “underperform” rating in a research report on Thursday, January 18th. Seven research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Coinbase Global has an average rating of “Hold” and a consensus target price of $103.68.

View Our Latest Report on COIN

Coinbase Global Profile

(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.

Featured Articles

Want to see what other hedge funds are holding COIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coinbase Global, Inc. (NASDAQ:COINFree Report).

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

Receive News & Ratings for Coinbase Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coinbase Global and related companies with MarketBeat.com's FREE daily email newsletter.