Coinbase Global, Inc. (NASDAQ:COIN) Insider Paul Grewal Sells 10,257 Shares

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,257 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the completion of the transaction, the insider now directly owns 66,122 shares in the company, valued at $18,223,223.20. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Paul Grewal also recently made the following trade(s):

• On Monday, February 26th, Paul Grewal sold 42,113 shares of Coinbase Global stock. The stock was sold at an average price of $190.34, for a total transaction of $8,015,788.42.
• On Thursday, January 25th, Paul Grewal sold 10,000 shares of Coinbase Global stock. The stock was sold at an average price of $121.02, for a total transaction of $1,210,200.00.

Coinbase Global Stock Performance

Shares of COIN stock opened at $256.70 on Thursday. The company has a market cap of $62.19 billion, a P/E ratio of 950.74 and a beta of 3.36. Coinbase Global, Inc. has a 12 month low of $46.43 and a 12 month high of $283.48. The firm has a fifty day moving average price of $185.44 and a 200 day moving average price of $136.47. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The company had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. During the same period in the prior year, the business posted ($2.46) earnings per share. The firm’s revenue for the quarter was up 51.6% compared to the same quarter last year. Sell-side analysts predict that Coinbase Global, Inc. will post 1.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coinbase Global

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Coinbase Global by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 14,281,280 shares of the cryptocurrency exchange’s stock worth $2,483,800,000 after acquiring an additional 408,046 shares during the last quarter. Morgan Stanley raised its holdings in shares of Coinbase Global by 18.5% in the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after acquiring an additional 511,397 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Coinbase Global by 84.7% in 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. Geode Capital Management LLC raised its holdings in shares of Coinbase Global by 7.2% in the second quarter. Geode Capital Management LLC now owns 2,510,007 shares of the cryptocurrency exchange’s stock worth $179,317,000 after acquiring an additional 168,018 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Coinbase Global in the fourth quarter worth $50,254,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wedbush raised their target price on shares of Coinbase Global from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. JMP Securities reaffirmed a “market outperform” rating on shares of Coinbase Global in a research report on Friday, March 22nd. Citigroup lifted their price target on shares of Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a research report on Friday, January 19th. Piper Sandler lifted their price target on shares of Coinbase Global from $125.00 to $165.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Finally, Needham & Company LLC lifted their price target on shares of Coinbase Global from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, January 8th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Coinbase Global currently has an average rating of “Hold” and an average price target of $136.30.

About Coinbase Global

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.