Paul Grewal Sells 7,104 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 7,104 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $307.80, for a total transaction of $2,186,611.20. Following the completion of the transaction, the insider now directly owns 79,407 shares in the company, valued at $24,441,474.60. This trade represents a 8.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Friday, October 25th, Paul Grewal sold 10,000 shares of Coinbase Global stock. The stock was sold at an average price of $209.98, for a total value of $2,099,800.00.
• On Wednesday, September 25th, Paul Grewal sold 10,000 shares of Coinbase Global stock. The stock was sold at an average price of $170.10, for a total transaction of $1,701,000.00.

Coinbase Global Stock Performance

COIN traded up $17.69 on Wednesday, reaching $310.98. 13,245,859 shares of the stock were exchanged, compared to its average volume of 11,193,557. The company’s 50-day moving average price is $219.83 and its 200 day moving average price is $216.55. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $77.85 billion, a PE ratio of 53.07 and a beta of 3.34. Coinbase Global, Inc. has a fifty-two week low of $114.51 and a fifty-two week high of $341.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business’s quarterly revenue was up 78.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.01) EPS. As a group, sell-side analysts forecast that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

COIN has been the subject of several recent analyst reports. B. Riley initiated coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective for the company. Monness Crespi & Hardt initiated coverage on Coinbase Global in a report on Monday, October 28th. They set a “buy” rating and a $245.00 price objective for the company. Oppenheimer lifted their target price on Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a research report on Monday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a research note on Thursday, October 31st. Finally, Barclays upped their target price on shares of Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Coinbase Global presently has a consensus rating of “Hold” and an average target price of $255.22.

Institutional Trading of Coinbase Global

Institutional investors and hedge funds have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new stake in shares of Coinbase Global during the third quarter worth approximately $94,000. Virtu Financial LLC acquired a new position in shares of Coinbase Global during the 3rd quarter worth approximately $3,866,000. TD Private Client Wealth LLC acquired a new position in shares of Coinbase Global during the 3rd quarter valued at about $77,000. Sunbelt Securities Inc. raised its position in shares of Coinbase Global by 25.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 696 shares of the cryptocurrency exchange’s stock valued at $124,000 after buying an additional 143 shares during the period. Finally, Coldstream Capital Management Inc. lifted its stake in shares of Coinbase Global by 17.0% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,772 shares of the cryptocurrency exchange’s stock valued at $517,000 after purchasing an additional 402 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

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.