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

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $221.47, for a total value of $2,214,700.00. Following the sale, the insider now directly owns 66,122 shares in the company, valued at approximately $14,644,039.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, March 25th, Paul Grewal sold 10,257 shares of Coinbase Global stock. The shares were sold at an average price of $275.60, for a total value of $2,826,829.20.
• On Monday, February 26th, Paul Grewal sold 42,113 shares of Coinbase Global stock. The stock was sold at an average price of $190.34, for a total value of $8,015,788.42.

Coinbase Global Stock Down 7.7 %

NASDAQ:COIN opened at $218.16 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global, Inc. has a one year low of $46.43 and a one year high of $283.48. The firm’s 50 day simple moving average is $232.50 and its 200 day simple moving average is $163.08. The company has a market cap of $52.85 billion, a PE ratio of 808.00 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $1.13. The company had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. Coinbase Global’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.46) earnings per share. On average, research analysts anticipate that Coinbase Global, Inc. will post 2.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Piper Sandler upped their price objective on shares of Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Citigroup increased their price target on shares of Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. Oppenheimer boosted their price objective on shares of Coinbase Global from $200.00 to $276.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. The Goldman Sachs Group raised Coinbase Global from a “sell” rating to a “neutral” rating in a report on Friday, March 8th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $240.00 price target on shares of Coinbase Global in a research note on Thursday, March 28th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $167.81.

Institutional Investors Weigh In On Coinbase Global

Institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC grew its stake in Coinbase Global by 88.5% during the first quarter. Commonwealth Equity Services LLC now owns 91,171 shares of the cryptocurrency exchange’s stock worth $24,171,000 after purchasing an additional 42,817 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Coinbase Global by 36.1% during the 1st quarter. Principal Financial Group Inc. now owns 14,541 shares of the cryptocurrency exchange’s stock worth $3,855,000 after buying an additional 3,855 shares in the last quarter. Benjamin Edwards Inc. grew its position in shares of Coinbase Global by 520.4% during the 1st quarter. Benjamin Edwards Inc. now owns 1,948 shares of the cryptocurrency exchange’s stock worth $516,000 after buying an additional 1,634 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in shares of Coinbase Global by 130.8% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,836 shares of the cryptocurrency exchange’s stock valued at $752,000 after acquiring an additional 1,607 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new position in shares of Coinbase Global during the 1st quarter valued at $2,237,000. 68.84% of the stock is owned by institutional investors.

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.