Coinbase Global, Inc. (NASDAQ:COIN) Insider Sells $3,486,400.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $348.64, for a total transaction of $3,486,400.00. Following the transaction, the insider owned 82,328 shares in the company, valued at approximately $28,702,833.92. This trade represents a 10.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Wednesday, June 18th, Paul Grewal sold 1,952 shares of Coinbase Global stock. The stock was sold at an average price of $280.02, for a total value of $546,599.04.
• On Tuesday, May 27th, Paul Grewal sold 12,931 shares of Coinbase Global stock. The stock was sold at an average price of $267.29, for a total value of $3,456,326.99.
• On Tuesday, May 13th, Paul Grewal sold 1,952 shares of Coinbase Global stock. The stock was sold at an average price of $250.00, for a total value of $488,000.00.
• On Wednesday, April 23rd, Paul Grewal sold 10,000 shares of Coinbase Global stock. The stock was sold at an average price of $198.12, for a total value of $1,981,200.00.

Coinbase Global Trading Up 0.3%

Shares of COIN stock opened at $355.58 on Friday. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $382.00. The stock has a market cap of $90.27 billion, a P/E ratio of 66.59, a P/E/G ratio of 26.02 and a beta of 3.70. The business has a fifty day simple moving average of $265.23 and a 200-day simple moving average of $242.97. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.40.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter in the prior year, the business earned $2.53 EPS. The company’s quarterly revenue was up 24.2% compared to the same quarter last year. On average, analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on COIN shares. JMP Securities reaffirmed a “market outperform” rating and set a $400.00 price target on shares of Coinbase Global in a report on Wednesday, June 25th. The Goldman Sachs Group increased their price target on Coinbase Global from $189.00 to $209.00 and gave the stock a “neutral” rating in a report on Monday, May 12th. Citigroup reaffirmed a “buy” rating on shares of Coinbase Global in a report on Wednesday, June 25th. Canaccord Genuity Group reissued a “buy” rating and issued a $400.00 target price on shares of Coinbase Global in a report on Friday, May 9th. Finally, Monness Crespi & Hardt raised Coinbase Global from a “neutral” rating to a “buy” rating and set a $300.00 target price for the company in a report on Tuesday, May 13th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $291.06.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Mascagni Wealth Management Inc. purchased a new stake in Coinbase Global during the 4th quarter worth about $25,000. Copia Wealth Management purchased a new stake in Coinbase Global during the 4th quarter worth about $26,000. Bessemer Group Inc. increased its position in Coinbase Global by 297.4% during the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after purchasing an additional 113 shares in the last quarter. Atala Financial Inc purchased a new stake in Coinbase Global during the 4th quarter worth about $27,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in Coinbase Global during the 1st quarter worth about $30,000. Hedge funds and other institutional investors 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.