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

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total transaction of $1,701,000.00. Following the completion of the transaction, the insider now directly owns 74,956 shares of the company’s stock, valued at approximately $12,750,015.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• 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 transaction of $3,510,455.52.
• On Thursday, July 25th, Paul Grewal sold 10,000 shares of Coinbase Global stock. The shares were sold at an average price of $235.75, for a total transaction of $2,357,500.00.

Coinbase Global Stock Performance

Shares of COIN stock opened at $164.47 on Thursday. Coinbase Global, Inc. has a one year low of $70.41 and a one year high of $283.48. The firm’s 50 day moving average price is $186.56 and its 200-day moving average price is $217.52. The firm has a market cap of $40.39 billion, a P/E ratio of 32.83 and a beta of 3.36. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.93). Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the business posted ($0.42) EPS. The company’s revenue for the quarter was up 104.8% compared to the same quarter last year. As a group, equities research analysts predict that Coinbase Global, Inc. will post 3.96 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on COIN shares. Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and upped their target price for the stock from $260.00 to $345.00 in a report on Tuesday, July 23rd. HC Wainwright decreased their price objective on Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Compass Point dropped their price objective on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price target on shares of Coinbase Global in a research note on Monday, August 5th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $246.06.

Institutional Investors Weigh In On Coinbase Global

A number of hedge funds have recently bought and sold shares of COIN. Geneos Wealth Management Inc. increased its holdings in Coinbase Global by 833.3% in the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 100 shares during the last quarter. Concord Wealth Partners grew its position in shares of Coinbase Global by 322.2% during the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 87 shares during the last quarter. Mather Group LLC. purchased a new position in Coinbase Global during the 1st quarter worth $32,000. Crewe Advisors LLC grew its holdings in shares of Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after buying an additional 104 shares during the last quarter. Finally, Lynx Investment Advisory purchased a new position in shares of Coinbase Global in the 2nd quarter valued at approximately $29,000. 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.