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

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $345.88, for a total transaction of $3,458,800.00. Following the completion of the transaction, the insider owned 82,328 shares of the company’s stock, valued at $28,475,608.64. This trade represents a 10.83% 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 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 transaction of $3,045,200.00.
• On Monday, August 25th, Paul Grewal sold 15,439 shares of Coinbase Global stock. The stock was sold at an average price of $310.80, for a total transaction of $4,798,441.20.

Coinbase Global Stock Performance

COIN stock opened at $387.00 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. The company has a 50 day moving average price of $324.22 and a 200 day moving average price of $286.10. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The stock has a market capitalization of $99.44 billion, a PE ratio of 37.43 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.79). Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the firm earned $0.14 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analysts Forecast Growth

COIN has been the subject of several research analyst reports. Canaccord Genuity Group restated a “buy” rating and issued a $400.00 price objective on shares of Coinbase Global in a research report on Friday, August 1st. Monness Crespi & Hardt cut shares of Coinbase Global from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Jefferies Financial Group lifted their target price on shares of Coinbase Global from $260.00 to $405.00 and gave the stock a “hold” rating in a report on Tuesday, July 29th. Argus started coverage on shares of Coinbase Global in a report on Monday, July 14th. They set a “buy” rating and a $400.00 target price for the company. Finally, BTIG Research started coverage on shares of Coinbase Global in a report on Wednesday, October 1st. They set a “buy” rating and a $410.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Coinbase Global presently has an average rating of “Moderate Buy” and a consensus price target of $367.12.

Hedge Funds Weigh In On Coinbase Global

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Coinbase Global by 25.5% in the 2nd quarter. Vanguard Group Inc. now owns 24,208,863 shares of the cryptocurrency exchange’s stock valued at $8,484,964,000 after buying an additional 4,914,407 shares during the period. Geode Capital Management LLC lifted its position in Coinbase Global by 46.1% in the 2nd quarter. Geode Capital Management LLC now owns 5,559,513 shares of the cryptocurrency exchange’s stock valued at $1,940,805,000 after acquiring an additional 1,755,146 shares in the last quarter. ARK Investment Management LLC lifted its position in Coinbase Global by 1.1% in the 1st quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange’s stock valued at $528,592,000 after acquiring an additional 34,462 shares in the last quarter. Groupama Asset Managment lifted its position in Coinbase Global by 100.0% in the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock valued at $516,690,000 after acquiring an additional 1,500,000 shares in the last quarter. Finally, Norges Bank bought a new stake in Coinbase Global in the 2nd quarter valued at $1,044,354,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.