California State Teachers Retirement System Sells 707 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

California State Teachers Retirement System reduced its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 0.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 306,215 shares of the cryptocurrency exchange’s stock after selling 707 shares during the period. California State Teachers Retirement System’s holdings in Coinbase Global were worth $76,033,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in shares of Coinbase Global in the third quarter valued at about $3,866,000. Wilmington Savings Fund Society FSB bought a new stake in Coinbase Global during the 3rd quarter worth approximately $94,000. Principal Financial Group Inc. grew its position in Coinbase Global by 219.2% during the third quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange’s stock worth $9,558,000 after buying an additional 36,843 shares in the last quarter. Versant Capital Management Inc lifted its position in Coinbase Global by 106.9% during the fourth quarter. Versant Capital Management Inc now owns 298 shares of the cryptocurrency exchange’s stock valued at $74,000 after purchasing an additional 154 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Coinbase Global by 25.9% in the fourth quarter. GAMMA Investing LLC now owns 1,039 shares of the cryptocurrency exchange’s stock valued at $258,000 after acquiring an additional 214 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Activity

In related news, CEO Brian Armstrong sold 20,000 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $198.44, for a total value of $3,968,800.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $104,379.44. This trade represents a 97.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Alesia J. Haas sold 7,575 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $200.00, for a total value of $1,515,000.00. Following the completion of the transaction, the chief financial officer now owns 114,866 shares in the company, valued at $22,973,200. The trade was a 6.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 168,970 shares of company stock worth $38,672,615 over the last three months. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

Coinbase Global stock opened at $205.27 on Tuesday. The business has a 50 day simple moving average of $190.84 and a 200 day simple moving average of $243.62. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $349.75. The company has a market capitalization of $52.11 billion, a PE ratio of 21.61 and a beta of 3.65.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on COIN. Sanford C. Bernstein raised shares of Coinbase Global to a “strong-buy” rating in a research report on Tuesday, March 18th. HC Wainwright reiterated a “buy” rating and set a $350.00 price target on shares of Coinbase Global in a report on Friday, February 21st. The Goldman Sachs Group initiated coverage on shares of Coinbase Global in a report on Thursday, March 20th. They set a “neutral” rating and a $195.00 price target on the stock. Compass Point reiterated a “sell” rating and set a $180.00 price objective on shares of Coinbase Global in a research report on Monday. Finally, Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $289.90.

Coinbase Global Profile

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.