Paul Grewal Sells 11,955 Shares of Coinbase Global (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 11,955 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $246.18, for a total transaction of $2,943,081.90. Following the transaction, the insider owned 75,811 shares of the company’s stock, valued at $18,663,151.98. This trade represents a 13.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, October 1st, Paul Grewal sold 10,000 shares of Coinbase Global stock. The stock was sold at an average price of $345.88, for a total value of $3,458,800.00.
• On Tuesday, September 2nd, Paul Grewal sold 10,000 shares of Coinbase Global stock. The shares were sold at an average price of $304.52, for a total value of $3,045,200.00.

Coinbase Global Trading Up 4.3%

NASDAQ COIN traded up $10.85 during trading on Wednesday, hitting $264.97. The stock had a trading volume of 9,870,713 shares, compared to its average volume of 10,950,419. The stock has a 50 day simple moving average of $324.14 and a 200 day simple moving average of $317.87. The stock has a market capitalization of $71.45 billion, a price-to-earnings ratio of 22.92 and a beta of 3.67. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, topping the consensus estimate of $1.04 by $0.40. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the business posted $0.28 EPS. Coinbase Global’s quarterly revenue was up 55.1% on a year-over-year basis. Sell-side analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Institutional Investors Weigh In On Coinbase Global

A number of institutional investors have recently made changes to their positions in the company. Evelyn Partners Investment Management Europe Ltd raised its holdings in shares of Coinbase Global by 92.3% during the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock worth $29,000 after purchasing an additional 36 shares during the period. REAP Financial Group LLC acquired a new stake in shares of Coinbase Global in the third quarter valued at approximately $25,000. Palisade Asset Management LLC acquired a new position in shares of Coinbase Global during the third quarter worth approximately $29,000. Cullen Frost Bankers Inc. bought a new position in Coinbase Global in the 2nd quarter worth approximately $30,000. Finally, Salomon & Ludwin LLC raised its stake in Coinbase Global by 4,400.0% during the 3rd quarter. Salomon & Ludwin LLC now owns 90 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 88 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on COIN. Jefferies Financial Group reissued a “hold” rating and set a $384.00 price objective on shares of Coinbase Global in a report on Wednesday, October 29th. Cantor Fitzgerald cut their price target on Coinbase Global from $500.00 to $459.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Canaccord Genuity Group restated a “buy” rating and set a $400.00 price objective on shares of Coinbase Global in a research note on Friday, August 1st. Redburn Partners set a $417.00 target price on shares of Coinbase Global in a report on Friday, October 3rd. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Coinbase Global from $355.00 to $335.00 and set a “market perform” rating on the stock in a research report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Coinbase Global currently has an average rating of “Moderate Buy” and an average target price of $398.08.

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.