Coinbase Global, Inc. (NASDAQ:COIN) Insider Paul Grewal Sells 7,104 Shares

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 7,104 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $307.80, for a total transaction of $2,186,611.20. Following the sale, the insider now directly owns 79,407 shares of the company’s stock, valued at approximately $24,441,474.60. This represents a 8.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Friday, October 25th, Paul Grewal sold 10,000 shares of Coinbase Global stock. The stock was sold at an average price of $209.98, for a total transaction of $2,099,800.00.
• On Wednesday, September 25th, Paul Grewal sold 10,000 shares of Coinbase Global stock. The stock was sold at an average price of $170.10, for a total value of $1,701,000.00.

Coinbase Global Stock Up 6.0 %

Shares of NASDAQ:COIN opened at $310.98 on Friday. The company’s fifty day moving average is $222.79 and its 200-day moving average is $217.21. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $341.75. The company has a market capitalization of $77.85 billion, a PE ratio of 53.07 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share 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 firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the company posted ($0.01) earnings per share. Coinbase Global’s quarterly revenue was up 78.8% compared to the same quarter last year. Equities research analysts predict that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coinbase Global

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. APEIRON CAPITAL Ltd bought a new stake in shares of Coinbase Global during the first quarter worth $108,434,000. Bayesian Capital Management LP acquired a new position in Coinbase Global during the 1st quarter worth about $663,000. Janus Henderson Group PLC grew its holdings in Coinbase Global by 66.4% during the 1st quarter. Janus Henderson Group PLC now owns 17,127 shares of the cryptocurrency exchange’s stock worth $4,539,000 after acquiring an additional 6,835 shares during the last quarter. Hancock Whitney Corp acquired a new stake in Coinbase Global in the 1st quarter valued at about $1,129,000. Finally, LBP AM SA bought a new position in shares of Coinbase Global in the first quarter worth about $417,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on COIN shares. Bank of America raised their target price on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st. B. Riley initiated coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target for the company. Compass Point dropped their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $245.00 target price on shares of Coinbase Global in a research note on Friday, November 1st. 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, the company has a consensus rating of “Hold” and a consensus price target of $255.22.

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.