Coinbase Global, Inc. (NASDAQ:COIN) Insider Paul Grewal Sells 10,000 Shares

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $209.98, for a total value of $2,099,800.00. Following the sale, the insider now owns 74,956 shares of the company’s stock, valued at $15,739,260.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, September 25th, Paul Grewal sold 10,000 shares of Coinbase Global stock. The shares were sold at an average price of $170.10, for a total value of $1,701,000.00.
• 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 value of $3,510,455.52.

Coinbase Global Price Performance

NASDAQ COIN opened at $179.25 on Friday. Coinbase Global, Inc. has a 12 month low of $73.56 and a 12 month high of $283.48. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $44.54 billion, a PE ratio of 32.18 and a beta of 3.35. The company’s 50 day simple moving average is $181.56 and its 200 day simple moving average is $209.01.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the business earned ($0.42) EPS. Coinbase Global’s revenue was up 104.8% compared to the same quarter last year. As a group, equities research analysts forecast that Coinbase Global, Inc. will post 3.92 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on COIN. Mizuho increased their price target on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday. HC Wainwright reaffirmed a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a research report on Tuesday. The Goldman Sachs Group reduced their price target on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research report on Wednesday, October 9th. Finally, Needham & Company LLC increased their price target on shares of Coinbase Global from $260.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $246.28.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Crewe Advisors LLC increased its stake in shares of Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after acquiring an additional 104 shares during the period. Lynx Investment Advisory acquired a new position in shares of Coinbase Global during the second quarter valued at approximately $29,000. Concord Wealth Partners increased its stake in shares of Coinbase Global by 322.2% during the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 87 shares during the period. Geneos Wealth Management Inc. grew its position in Coinbase Global by 833.3% in the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 100 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in Coinbase Global by 75.0% in the second 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. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.