Coinbase Global, Inc. (NASDAQ:COIN) Insider Sells $2,566,900.00 in Stock

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

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

• On Monday, November 25th, Paul Grewal sold 7,104 shares of Coinbase Global stock. The stock was 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 shares were sold at an average price of $305.71, for a total transaction of $3,057,100.00.
• On Monday, November 25th, Paul Grewal sold 7,104 shares of Coinbase Global stock. The stock was sold at an average price of $307.80, for a total transaction 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 Performance

Shares of COIN opened at $264.33 on Wednesday. The company’s 50 day simple moving average is $283.16 and its 200-day simple moving average is $228.80. The firm has a market cap of $66.18 billion, a PE ratio of 45.11 and a beta of 3.59. Coinbase Global, Inc. has a 12-month low of $114.51 and a 12-month high of $349.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the business posted ($0.01) earnings per share. The company’s revenue for the quarter was up 78.8% on a year-over-year basis. As a group, equities analysts predict that Coinbase Global, Inc. will post 4.44 EPS for the current year.

Hedge Funds Weigh In On Coinbase Global

Several institutional investors have recently added to or reduced their stakes in the stock. Clear Street Derivatives LLC purchased a new position in shares of Coinbase Global in the 3rd quarter valued at approximately $409,919,000. Renaissance Technologies LLC grew its position in Coinbase Global by 185.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after buying an additional 691,288 shares during the last quarter. American Century Companies Inc. grew its position in Coinbase Global by 1,136.7% in the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock valued at $105,389,000 after buying an additional 435,886 shares during the last quarter. Geode Capital Management LLC increased its stake in Coinbase Global by 10.1% in 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 buying an additional 314,388 shares during the period. Finally, Azora Capital LP raised its position in Coinbase Global by 214.1% during the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock worth $57,525,000 after buying an additional 220,078 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Mizuho upped their price target on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Monness Crespi & Hardt increased their price target on Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. B. Riley initiated coverage on Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective for the company. Barclays raised their target price on shares of Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Finally, JMP Securities reiterated a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. One 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’s stock. According to data from MarketBeat.com, Coinbase Global presently has an average rating of “Hold” and an average price target of $288.44.

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.