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

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the transaction, the insider now owns 69,407 shares in the company, valued at approximately $17,816,082.83. This represents a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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 value of $3,057,100.00.
• 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 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 transaction of $2,099,800.00.

Coinbase Global Stock Up 6.3 %

NASDAQ COIN opened at $287.76 on Tuesday. Coinbase Global, Inc. has a twelve month low of $114.51 and a twelve month high of $349.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $72.04 billion, a PE ratio of 49.11 and a beta of 3.59. The firm has a 50-day simple moving average of $282.26 and a 200 day simple moving average of $228.53.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Coinbase Global’s revenue was up 78.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.01) EPS. On average, research analysts forecast that Coinbase Global, Inc. will post 4.44 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on COIN. Monness Crespi & Hardt raised their price target on shares of Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a report on Thursday, December 19th. The Goldman Sachs Group boosted their price target on Coinbase Global from $183.00 to $397.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Bank of America upped their price target on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Oppenheimer boosted their target price on Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Finally, Needham & Company LLC lifted their price target on shares of Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $286.22.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its position in shares of Coinbase Global by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after acquiring an additional 314,388 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Coinbase Global by 2.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock valued at $570,341,000 after purchasing an additional 71,398 shares in the last quarter. Clear Street Derivatives LLC bought a new stake in shares of Coinbase Global in the 3rd quarter valued at approximately $409,919,000. Cowen AND Company LLC raised its holdings in shares of Coinbase Global by 1.5% in the 2nd quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock worth $330,895,000 after buying an additional 22,071 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Coinbase Global by 185.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after buying an additional 691,288 shares during the period. Institutional investors own 68.84% of the company’s stock.

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.