US Bancorp DE Cuts Its Stake in Coinbase Global, Inc. (NASDAQ:COIN) by 16.7% in Q1

US Bancorp DE decreased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 16.7% in the 1st quarter, according to the company in its most recent disclosure with the

US Bancorp DE sold 1,630 shares of Coinbase Global (NASDAQ:COIN) in the first quarter, reducing its stake in the cryptocurrency exchange by 16.7%, the company disclosed in its recent filing with the Securities and Exchange Commission. The firm owned 8,137 shares of COIN, according to the filing. At Friday’s closing price, US Bancorp DE’s stake in Coinbase Global was valued at $2,157,000.

Several other institutional investors and hedge funds also recently made changes to their positions in COIN. Here's a summary of their activity:

* SP Asset Management LLC acquired a new stake in Coinbase Global during the first quarter, valued at approximately $265,000.

* Russell Investments Group Ltd. increased its holdings in shares of Coinbase Global by 28.9% in the first quarter. After purchasing an additional 5,189 shares in the last quarter, Russell Investments Group Ltd. now owns 23,151 shares of the cryptocurrency exchange’s stock, valued at $6,138,000.

* Guardian Life Insurance Co of America bought a new position in shares of Coinbase Global in the first quarter, valued at approximately $199,000.

* Park Avenue Institutional Advisers LLC bought a new position in shares of Coinbase Global in the first quarter, valued at approximately $2,792,000.

* Finally, Watershed Private Wealth LLC bought a new position in shares of Coinbase Global in the first quarter, valued at approximately $305,000.

Institutions own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $257.79 on Friday. The stock has a market cap of $63.31 billion, a PE ratio of 51.46 and a beta of 3.40. Coinbase Global, Inc. has a fifty-two week low of $69.63 and a fifty-two week high of $283.48. The stock has a fifty day moving average of $231.04 and a 200-day moving average of $208.23. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02.

Coinbase Global Insider Activity

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 114,216 shares of Coinbase Global stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $202.30, for a total transaction of $23,105,896.80. Following the completion of the sale, the director now owns 4,662 shares of the company’s stock, valued at $943,122.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $202.30, for a total transaction of $23,105,896.80. Following the transaction, the director now owns 4,662 shares in the company, valued at approximately $943,122.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $221.47, for a total value of $2,214,700.00. Following the transaction, the insider now owns 66,122 shares in the company, valued at approximately $14,644,039.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 298,056 shares of company stock valued at $64,899,898. Company insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

COIN has been the subject of a number of research analyst reports. Piper Sandler increased their price target on Coinbase Global from $225.00 to $245.00 and gave the

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