Coinbase Global, Inc. (NASDAQ:COIN) Insider Paul Grewal Sells 10,978 Shares

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,978 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the sale, the insider now directly owns 83,313 shares in the company, valued at approximately $17,656,524.09. This trade represents a 11.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, January 2nd, Paul Grewal sold 10,000 shares of Coinbase Global stock. The stock was sold at an average price of $256.69, for a total transaction of $2,566,900.00.
• On Monday, December 2nd, Paul Grewal sold 10,000 shares of Coinbase Global stock. The shares were sold at an average price of $305.71, for a total value of $3,057,100.00.

Coinbase Global Stock Performance

NASDAQ:COIN traded down $4.59 during mid-day trading on Thursday, hitting $208.37. 8,054,381 shares of the company’s stock traded hands, compared to its average volume of 9,024,143. The firm has a market capitalization of $52.90 billion, a price-to-earnings ratio of 21.93 and a beta of 3.61. The firm has a 50 day moving average of $270.68 and a two-hundred day moving average of $240.71. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. On average, equities analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the company. Barclays raised their target price on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Mizuho lowered their price target on Coinbase Global from $290.00 to $280.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. The Goldman Sachs Group decreased their target price on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Canaccord Genuity Group boosted their price target on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $311.56.

Institutional Trading of Coinbase Global

Hedge funds have recently bought and sold shares of the stock. Banco Santander S.A. raised its position in shares of Coinbase Global by 12.7% during the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock valued at $26,531,000 after buying an additional 16,737 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new position in Coinbase Global in the 3rd quarter valued at approximately $29,756,000. Lindbrook Capital LLC lifted its position in shares of Coinbase Global by 30.2% in the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after acquiring an additional 6,963 shares during the period. Wellington Management Group LLP lifted its position in shares of Coinbase Global by 168.2% in the 3rd quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock worth $4,648,000 after acquiring an additional 16,363 shares during the period. Finally, QRG Capital Management Inc. grew its holdings in shares of Coinbase Global by 237.5% during the 3rd quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange’s stock worth $5,834,000 after purchasing an additional 23,040 shares in the last quarter. 68.84% of the stock is owned by 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.