Gokul Rajaram Sells 1,145 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Gokul Rajaram sold 1,145 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $97.68, for a total transaction of $111,843.60. Following the completion of the transaction, the director now directly owns 9,413 shares in the company, valued at $919,461.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Gokul Rajaram also recently made the following trade(s):

• On Thursday, October 19th, Gokul Rajaram sold 1,145 shares of Coinbase Global stock. The shares were sold at an average price of $74.34, for a total transaction of $85,119.30.
• On Thursday, September 21st, Gokul Rajaram sold 1,145 shares of Coinbase Global stock. The stock was sold at an average price of $74.38, for a total transaction of $85,165.10.

Coinbase Global Stock Performance

Shares of Coinbase Global stock traded up $7.05 during trading on Monday, hitting $106.10. 10,967,890 shares of the stock were exchanged, compared to its average volume of 14,465,171. The stock has a market capitalization of $25.38 billion, a price-to-earnings ratio of -32.85 and a beta of 2.65. The company has a fifty day moving average price of $80.44 and a 200-day moving average price of $76.38. Coinbase Global, Inc. has a 1-year low of $31.55 and a 1-year high of $114.43. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.52.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Canaccord Genuity Group lifted their price target on shares of Coinbase Global from $70.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Wedbush reissued an “outperform” rating and set a $110.00 price target on shares of Coinbase Global in a research report on Tuesday, November 7th. Canaccord Genuity Group lifted their price target on shares of Coinbase Global from $70.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Needham & Company LLC reissued a “buy” rating and set a $120.00 price target on shares of Coinbase Global in a research report on Thursday, August 17th. Finally, Bank of America cut their price objective on shares of Coinbase Global from $63.00 to $60.00 in a research report on Thursday, October 12th. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $75.64.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of COIN. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Coinbase Global by 117,449.5% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 11,320,018 shares of the cryptocurrency exchange’s stock worth $809,947,000 after purchasing an additional 11,310,388 shares during the last quarter. Mizuho Markets Americas LLC increased its stake in shares of Coinbase Global by 9,130.6% during the 1st quarter. Mizuho Markets Americas LLC now owns 4,504,355 shares of the cryptocurrency exchange’s stock worth $162,427,000 after purchasing an additional 4,455,557 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Coinbase Global by 19.8% during the 3rd 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 last quarter. Norges Bank bought a new stake in shares of Coinbase Global during the 4th quarter worth about $50,254,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Coinbase Global by 84.7% during the 2nd quarter. Renaissance Technologies LLC now owns 3,057,000 shares of the cryptocurrency exchange’s stock worth $218,728,000 after buying an additional 1,402,169 shares during the period. 45.96% of the stock is currently owned by institutional investors and hedge funds.

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.