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

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 74,956 shares of the company’s stock, valued at $15,739,260.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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 stock was sold at an average price of $206.96, for a total value of $3,510,455.52.

Coinbase Global Trading Down 3.6 %

Shares of NASDAQ:COIN opened at $211.74 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $52.61 billion, a PE ratio of 38.01 and a beta of 3.35. Coinbase Global, Inc. has a 12-month low of $73.56 and a 12-month high of $283.48. The business’s fifty day simple moving average is $181.94 and its 200-day simple moving average is $209.22.

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

Institutional Trading of Coinbase Global

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Coinbase Global by 18.4% in the 1st quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after purchasing an additional 2,624,989 shares in the last quarter. Cowen AND Company LLC boosted its position 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 purchasing an additional 22,071 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Coinbase Global by 185.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after purchasing an additional 691,288 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in Coinbase Global by 1,186.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after acquiring an additional 486,512 shares during the period. Finally, American Century Companies Inc. lifted its position in Coinbase Global by 1,136.7% during the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after acquiring an additional 435,886 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

COIN has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $260.00 price target on shares of Coinbase Global in a research note on Monday, August 5th. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research note on Friday, August 2nd. Barclays raised their price target on Coinbase Global from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. B. Riley initiated coverage on Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target for the company. Finally, Compass Point decreased their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $242.94.

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.