Paul Grewal Sells 10,978 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,978 shares of Coinbase Global stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the transaction, the insider now owns 83,313 shares of the company’s stock, valued at $17,656,524.09. This trade represents a 11.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Thursday, January 2nd, Paul Grewal sold 10,000 shares of Coinbase Global stock. The shares were sold at an average price of $256.69, for a total transaction of $2,566,900.00.
• 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.

Coinbase Global Price Performance

COIN opened at $215.73 on Friday. The company has a fifty day moving average price of $268.11 and a two-hundred day moving average price of $240.65. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. Coinbase Global, Inc. has a 52 week low of $146.12 and a 52 week high of $349.75. The firm has a market capitalization of $54.77 billion, a PE ratio of 22.71 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. As a group, analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

COIN has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Piper Sandler boosted their price objective on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a research report on Tuesday, February 18th. Finally, Canaccord Genuity Group boosted their price objective on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global currently has an average rating of “Moderate Buy” and an average target price of $311.56.

Hedge Funds Weigh In On Coinbase Global

Institutional investors and hedge funds have recently made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new position in shares of Coinbase Global in the 3rd quarter valued at $25,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Coinbase Global in the 4th quarter valued at $27,000. Atala Financial Inc acquired a new position in Coinbase Global in the 4th quarter worth $27,000. MassMutual Private Wealth & Trust FSB boosted its stake in Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 106 shares during the period. Finally, Mpwm Advisory Solutions LLC acquired a new position in Coinbase Global in the 4th quarter worth $35,000. 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.