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

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $209.98, for a total value of $2,099,800.00. Following the sale, the insider now directly owns 74,956 shares in the company, valued at $15,739,260.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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 Up 1.6 %

Shares of COIN opened at $219.66 on Wednesday. Coinbase Global, Inc. has a twelve month low of $71.88 and a twelve month high of $283.48. The firm has a market capitalization of $53.94 billion, a P/E ratio of 43.84 and a beta of 3.35. 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 stock’s fifty day simple moving average is $181.83 and its 200 day simple moving average is $209.20.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the previous year, the firm posted ($0.42) EPS. The firm’s revenue for the quarter was up 104.8% compared to the same quarter last year. On average, equities research analysts forecast that Coinbase Global, Inc. will post 3.92 earnings per share for the current year.

Analyst Ratings Changes

COIN has been the subject of several recent research reports. JMP Securities restated a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a report on Wednesday, October 9th. HC Wainwright reissued a “buy” rating and set a $295.00 price objective on shares of Coinbase Global in a research note on Tuesday. Bank of America reduced their target price on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and raised their price target for the stock from $260.00 to $345.00 in a research report on Tuesday, July 23rd. Finally, Barclays upped their price objective on Coinbase Global from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Coinbase Global has an average rating of “Hold” and a consensus price target of $242.94.

Institutional Investors Weigh In On Coinbase Global

Large investors have recently made changes to their positions in the business. Crewe Advisors LLC increased its holdings in Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after purchasing an additional 104 shares in the last quarter. Lynx Investment Advisory acquired a new stake in shares of Coinbase Global in the second quarter valued at about $29,000. Concord Wealth Partners raised its holdings in shares of Coinbase Global by 322.2% during the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 87 shares during the period. Geneos Wealth Management Inc. lifted its position in Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 100 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Coinbase Global by 75.0% in the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 57 shares during the period. 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.