Coinbase Global, Inc. (NASDAQ:COIN) Director Gokul Rajaram sold 4,580 shares of Coinbase Global stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $80.03, for a total value of $366,537.40. Following the completion of the sale, the director now directly owns 19,718 shares of the company’s stock, valued at approximately $1,578,031.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Gokul Rajaram also recently made the following trade(s):
- On Friday, June 2nd, Gokul Rajaram sold 1,145 shares of Coinbase Global stock. The shares were sold at an average price of $65.00, for a total value of $74,425.00.
Coinbase Global Trading Up 0.8 %
NASDAQ:COIN opened at $78.72 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.04 and a current ratio of 1.04. Coinbase Global, Inc. has a one year low of $31.55 and a one year high of $116.30. The business’s 50-day simple moving average is $60.47 and its 200 day simple moving average is $58.62. The stock has a market cap of $18.46 billion, a price-to-earnings ratio of -7.71 and a beta of 2.60.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of COIN. Fairfield Bush & CO. raised its stake in Coinbase Global by 18.4% during the first quarter. Fairfield Bush & CO. now owns 1,770 shares of the cryptocurrency exchange’s stock valued at $336,000 after buying an additional 275 shares in the last quarter. United Bank acquired a new stake in Coinbase Global during the first quarter valued at approximately $286,000. Bank of New York Mellon Corp raised its stake in Coinbase Global by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 70,553 shares of the cryptocurrency exchange’s stock valued at $13,394,000 after buying an additional 1,844 shares in the last quarter. American Century Companies Inc. raised its stake in Coinbase Global by 269.2% during the first quarter. American Century Companies Inc. now owns 7,147 shares of the cryptocurrency exchange’s stock valued at $1,357,000 after buying an additional 5,211 shares in the last quarter. Finally, Synovus Financial Corp raised its stake in Coinbase Global by 26.6% during the first quarter. Synovus Financial Corp now owns 1,103 shares of the cryptocurrency exchange’s stock valued at $209,000 after buying an additional 232 shares in the last quarter. Institutional investors and hedge funds own 45.21% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have recently commented on COIN. JPMorgan Chase & Co. lifted their price objective on Coinbase Global from $55.00 to $59.00 in a research report on Friday, May 5th. HC Wainwright assumed coverage on Coinbase Global in a research report on Wednesday, April 26th. They set a “buy” rating and a $75.00 price target for the company. Citigroup downgraded Coinbase Global from a “buy” rating to a “neutral” rating and lowered their price target for the company from $80.00 to $65.00 in a research report on Monday, May 1st. Needham & Company LLC lowered their price target on Coinbase Global from $73.00 to $70.00 in a research report on Monday, May 1st. Finally, Daiwa Capital Markets raised Coinbase Global from a “neutral” rating to a “buy” rating and boosted their price target for the company from $58.00 to $65.00 in a research report on Monday, May 8th. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Hold” and an average price target of $61.28.
Coinbase Global Company Profile
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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