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 that occurred on Tuesday, June 25th. The stock was sold at an average price of $219.45, for a total value of $2,194,500.00. Following the completion of the sale, the insider now directly owns 71,195 shares in the company, valued at approximately $15,623,742.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Tuesday, May 28th, Paul Grewal sold 17,444 shares of Coinbase Global stock. The shares were sold at an average price of $239.07, for a total value of $4,170,337.08.
• On Thursday, April 25th, Paul Grewal sold 10,000 shares of Coinbase Global stock. The stock was sold at an average price of $221.47, for a total transaction of $2,214,700.00.

Coinbase Global Stock Up 4.4 %

Shares of Coinbase Global stock opened at $224.00 on Friday. The stock has a market capitalization of $55.01 billion, a P/E ratio of 44.71 and a beta of 3.44. The stock has a 50 day moving average price of $227.48 and a two-hundred day moving average price of $200.82. Coinbase Global, Inc. has a 12-month low of $68.15 and a 12-month high of $283.48. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.61. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. Equities analysts expect that Coinbase Global, Inc. will post 5.01 earnings per share for the current year.

Institutional Investors Weigh In On Coinbase Global

Institutional investors have recently added to or reduced their stakes in the stock. Salem Investment Counselors Inc. lifted its position in shares of Coinbase Global by 162.9% during the 1st quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock worth $49,000 after buying an additional 114 shares during the period. Paragon Capital Management Ltd grew its position in Coinbase Global by 58.6% in the first quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock valued at $61,418,000 after acquiring an additional 85,573 shares during the period. Raymond James & Associates raised its stake in Coinbase Global by 65.5% during the fourth quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock worth $4,203,000 after acquiring an additional 9,564 shares in the last quarter. KBC Group NV lifted its holdings in shares of Coinbase Global by 26.2% during the fourth quarter. KBC Group NV now owns 21,811 shares of the cryptocurrency exchange’s stock valued at $3,793,000 after acquiring an additional 4,524 shares during the period. Finally, Masso Torrence Wealth Management Inc. acquired a new stake in shares of Coinbase Global in the 4th quarter valued at $302,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on COIN shares. JPMorgan Chase & Co. raised their price target on Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Barclays upped their price target on shares of Coinbase Global from $179.00 to $204.00 and gave the company an “underweight” rating in a report on Monday, May 6th. Sanford C. Bernstein increased their target price on shares of Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Canaccord Genuity Group lifted their price target on shares of Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Mizuho increased their price objective on Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a research report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and a consensus target price of $215.50.

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.