California State Teachers Retirement System Has $76.03 Million Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

California State Teachers Retirement System lowered its position in Coinbase Global, Inc. (NASDAQ:COIN) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 306,215 shares of the cryptocurrency exchange’s stock after selling 707 shares during the period. California State Teachers Retirement System owned 0.12% of Coinbase Global worth $76,033,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. McElhenny Sheffield Capital Management LLC bought a new position in Coinbase Global during the fourth quarter worth $252,000. Virtu Financial LLC acquired a new stake in Coinbase Global during the 3rd quarter valued at $3,866,000. Savant Capital LLC acquired a new position in Coinbase Global during the 4th quarter worth about $591,000. Principal Financial Group Inc. raised its position in shares of 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 acquiring an additional 36,843 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new position in Coinbase Global in the fourth quarter valued at approximately $1,207,000. 68.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Piper Sandler boosted their target price on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Monness Crespi & Hardt set a $420.00 price objective on Coinbase Global in a research note on Tuesday, February 18th. Cantor Fitzgerald initiated coverage on shares of Coinbase Global in a research note on Tuesday, April 8th. They set an “overweight” rating and a $245.00 price target for the company. Bank of America decreased their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $350.00 price target on shares of Coinbase Global in a report on Friday, February 21st. 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’s stock. According to MarketBeat.com, Coinbase Global has a consensus rating of “Moderate Buy” and a consensus price target of $289.90.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $198.12, for a total value of $1,981,200.00. Following the completion of the sale, the insider now owns 83,313 shares in the company, valued at approximately $16,505,971.56. The trade was a 10.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 15,228 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $280.51, for a total value of $4,271,606.28. Following the completion of the transaction, the director now directly owns 10,417 shares of the company’s stock, valued at $2,922,072.67. The trade was a 59.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,970 shares of company stock valued at $38,672,615. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Down 2.1 %

Shares of NASDAQ COIN opened at $205.27 on Tuesday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The business has a 50-day simple moving average of $190.84 and a two-hundred day simple moving average of $243.62. The company has a market cap of $52.11 billion, a P/E ratio of 21.61 and a beta of 3.65. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Research analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Coinbase Global Company 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.