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

Coinbase Global, Inc. (NASDAQ:COIN) Director Gokul Rajaram sold 1,145 shares of the stock in a transaction on 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 directly owns 9,413 shares in the company, valued at $919,461.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $74.34, for a total value 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 value of $85,165.10.

Coinbase Global Trading Up 7.1 %

Shares of COIN stock opened at $106.10 on Tuesday. Coinbase Global, Inc. has a 12-month low of $31.55 and a 12-month 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. The stock’s 50-day moving average price is $80.44 and its 200-day moving average price is $76.38. The stock has a market capitalization of $25.38 billion, a price-to-earnings ratio of -32.85 and a beta of 2.65.

Institutional Investors Weigh In On Coinbase Global

Large investors have recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich increased its stake in Coinbase Global by 117,449.5% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 11,320,018 shares of the cryptocurrency exchange’s stock worth $809,947,000 after acquiring an additional 11,310,388 shares during the last quarter. Mizuho Markets Americas LLC increased its stake in Coinbase Global by 9,130.6% during the first quarter. Mizuho Markets Americas LLC now owns 4,504,355 shares of the cryptocurrency exchange’s stock worth $162,427,000 after acquiring an additional 4,455,557 shares during the last quarter. Vanguard Group Inc. increased its stake in Coinbase Global by 19.8% during the third quarter. Vanguard Group Inc. now owns 12,786,266 shares of the cryptocurrency exchange’s stock worth $824,587,000 after acquiring an additional 2,110,196 shares during the last quarter. Norges Bank bought a new stake in Coinbase Global during the fourth quarter worth approximately $50,254,000. Finally, Renaissance Technologies LLC increased its stake in Coinbase Global by 84.7% during the second quarter. Renaissance Technologies LLC now owns 3,057,000 shares of the cryptocurrency exchange’s stock worth $218,728,000 after acquiring an additional 1,402,169 shares during the last quarter. 45.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on COIN. Barclays cut their target price on Coinbase Global from $70.00 to $68.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 10th. JPMorgan Chase & Co. increased their target price on Coinbase Global from $59.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 2nd. Wedbush reissued an “outperform” rating and issued a $110.00 target price on shares of Coinbase Global in a research note on Tuesday, November 7th. Bank of America dropped their price objective on Coinbase Global from $63.00 to $60.00 in a research report on Thursday, October 12th. Finally, HC Wainwright increased their price objective on Coinbase Global from $77.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $75.64.

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.