Coinbase Global Sees Institutional Investor Shifts Amid Insider Sales
Dimensional Fund Advisors LP has made changes to its position in Coinbase Global Inc. (NASDAQ: COIN). The firm sold 51,927 shares of the cryptocurrency exchange's stock during the first quarter, resulting in a decrease of 6.7% in its holdings. This sale brings Dimensional Fund Advisors LP's total ownership in Coinbase Global down to 721,059 shares, which is valued at $125,798,000.
According to recent SEC filings, other institutional investors have also made changes to their positions in Coinbase Global. Parallel Advisors LLC increased its position by 23.9% during the first quarter and now owns 14,331 shares of the company's stock worth $2,502,000. SEB Asset Management AB acquired a new position in Coinbase Global worth $7,373,000.
Insider activity also indicates that certain individuals have been selling shares of Coinbase Global recently. Lawrence J. Brock sold 6,616 shares on May 22nd at an average price of $189.01 for a total transaction value of $1,250,490.16. CAO Jennifer N. Jones sold 2,051 shares on June 5th at an average price of $158.15 for a total of $324,365.65.
The current market capitalization of Coinbase Global is approximately $44.13 billion, with a price-to-earnings ratio of 62.97 and a beta of 3.35.