Coinbase Global, Inc. (NASDAQ:COIN) Insider Sells $1,701,000.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $170.10, for a total value of $1,701,000.00. Following the transaction, the insider now directly owns 74,956 shares of the company’s stock, valued at approximately $12,750,015.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Monday, August 26th, Paul Grewal sold 16,962 shares of Coinbase Global stock. The shares were sold at an average price of $206.96, for a total transaction of $3,510,455.52.
• On Thursday, July 25th, Paul Grewal sold 10,000 shares of Coinbase Global stock. The shares were sold at an average price of $235.75, for a total value of $2,357,500.00.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $164.47 on Thursday. The stock’s 50-day simple moving average is $186.56 and its two-hundred day simple moving average is $217.52. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $40.39 billion, a P/E ratio of 32.83 and a beta of 3.36. Coinbase Global, Inc. has a twelve month low of $70.41 and a twelve month high of $283.48.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. Coinbase Global’s revenue for the quarter was up 104.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.42) EPS. As a group, equities analysts anticipate that Coinbase Global, Inc. will post 3.96 EPS for the current fiscal year.

Institutional Trading of Coinbase Global

A number of institutional investors have recently modified their holdings of COIN. Fifth Third Bancorp raised its stake in Coinbase Global by 0.4% in the second quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock worth $2,777,000 after buying an additional 55 shares in the last quarter. Versant Capital Management Inc raised its position in Coinbase Global by 75.0% in the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 57 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Coinbase Global by 12.1% during the 2nd quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock valued at $118,000 after buying an additional 57 shares during the period. Benjamin Edwards Inc. lifted its stake in shares of Coinbase Global by 3.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange’s stock worth $446,000 after purchasing an additional 61 shares during the period. Finally, Capital Advisors Wealth Management LLC raised its holdings in Coinbase Global by 4.6% in the 2nd quarter. Capital Advisors Wealth Management LLC now owns 1,413 shares of the cryptocurrency exchange’s stock worth $314,000 after purchasing an additional 62 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and upped their price target for the company from $260.00 to $345.00 in a research report on Tuesday, July 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Coinbase Global in a report on Monday, August 5th. The Goldman Sachs Group decreased their price objective on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Barclays raised Coinbase Global from an “underweight” rating to an “equal weight” rating and lowered their price target for the company from $206.00 to $169.00 in a research report on Friday, September 6th. Finally, Bank of America lowered their target price on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $246.06.

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.