Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) Insider Sells $2,566,900.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the completion of the sale, the insider now directly owns 69,407 shares in the company, valued at $17,816,082.83. This represents a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Monday, November 25th, Paul Grewal sold 7,104 shares of Coinbase Global stock. The shares were sold at an average price of $307.80, for a total value of $2,186,611.20.
• On Monday, December 2nd, Paul Grewal sold 10,000 shares of Coinbase Global stock. The stock was sold at an average price of $305.71, for a total transaction of $3,057,100.00.
• On Monday, November 25th, Paul Grewal sold 7,104 shares of Coinbase Global stock. The stock was sold at an average price of $307.80, for a total transaction of $2,186,611.20.
• On Friday, October 25th, Paul Grewal sold 10,000 shares of Coinbase Global stock. The shares were sold at an average price of $209.98, for a total value of $2,099,800.00.

Coinbase Global Stock Performance

Shares of COIN opened at $260.01 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global, Inc. has a 12-month low of $114.51 and a 12-month high of $349.75. The business’s fifty day moving average price is $284.12 and its 200 day moving average price is $229.01. The stock has a market capitalization of $65.09 billion, a PE ratio of 44.37 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last announced 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 business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Coinbase Global’s quarterly revenue was up 78.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.01) EPS. Equities research analysts forecast that Coinbase Global, Inc. will post 4.44 EPS for the current year.

Hedge Funds Weigh In On Coinbase Global

Several institutional investors have recently made changes to their positions in the stock. Banco Santander S.A. grew its stake in Coinbase Global by 12.7% during the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after buying an additional 16,737 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of Coinbase Global by 135.1% in the 3rd quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after acquiring an additional 1,540 shares during the period. CloudAlpha Capital Management Limited Hong Kong bought a new stake in Coinbase Global in the 3rd quarter valued at about $29,756,000. Lindbrook Capital LLC boosted its stake in Coinbase Global by 30.2% during the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock valued at $5,347,000 after purchasing an additional 6,963 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in Coinbase Global in the 2nd quarter worth about $2,908,000. 68.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

COIN has been the topic of several analyst reports. Barclays raised their target price on Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Needham & Company LLC lifted their price objective on shares of Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research note on Monday, December 9th. The Goldman Sachs Group upped their target price on shares of Coinbase Global from $183.00 to $397.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Piper Sandler lifted their price target on shares of Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Oppenheimer upped their price objective on shares of Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $288.44.

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.