Sumitomo Mitsui Trust Group Reduces $22M in Coinbase Global, Inc. ($COIN)
Key Points
- Sumitomo Mitsui Trust Group changed its Coinbase Global, Inc. ($COIN) stake by 6.2% last quarter, cutting to 2,068,710 shares worth $330.44 million.
- Wall Street's consensus rating on $COIN is Buy and an average price target of $229.74.
- $COIN last traded around $159.73.
Sumitomo Mitsui Trust Group trimmed its position in Coinbase Global, Inc. ($COIN) by 6.2% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,068,710 shares of Coinbase Global, Inc. after selling 136,532 shares during the quarter. Sumitomo Mitsui Trust Group's holdings in Coinbase Global, Inc. were worth $330.44 million as of its most recent filing.
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About Coinbase Global, Inc.
Coinbase Global, Inc. operates platform for crypto assets in the United States and internationally. It provides the primary financial account in the crypto economy for consumers; a brokerage platform with a pool of liquidity across the crypto marketplace for institutions; and a suite of products granting access to build onchain for developers. The company was founded in 2012 and is based in New York, New York.
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