Coinbase Global, Inc. (NASDAQ:COIN) Insider Sells $2,566,900.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the sale, the insider now owns 69,407 shares in the company, valued at $17,816,082.83. The trade was a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Monday, November 25th, Paul Grewal sold 7,104 shares of Coinbase Global stock. The shares were sold at an average price of $307.80, for a total transaction of $2,186,611.20.
• On Monday, December 2nd, Paul Grewal sold 10,000 shares of Coinbase Global stock. The stock was sold at an average price of $305.71, for a total value of $3,057,100.00.
• On Monday, November 25th, Paul Grewal sold 7,104 shares of Coinbase Global stock. The stock was sold at an average price of $307.80, for a total value of $2,186,611.20.
• On Friday, October 25th, Paul Grewal sold 10,000 shares of Coinbase Global stock. The shares were sold at an average price of $209.98, for a total value of $2,099,800.00.

Coinbase Global Price Performance

Shares of NASDAQ:COIN traded up $17.11 on Monday, reaching $287.76. 10,787,533 shares of the company were exchanged, compared to its average volume of 7,668,262. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 1-year low of $114.51 and a 1-year high of $349.75. The company has a 50-day moving average of $280.83 and a 200-day moving average of $228.15. The firm has a market cap of $72.04 billion, a price-to-earnings ratio of 49.11 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.01) earnings per share. Equities analysts forecast that Coinbase Global, Inc. will post 4.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JMP Securities restated a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 9th. Mizuho raised their price objective on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Oppenheimer boosted their target price on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Piper Sandler restated a “neutral” rating and set a $245.00 price target on shares of Coinbase Global in a research note on Friday, November 1st. Finally, Needham & Company LLC increased their price objective on Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $286.22.

Hedge Funds Weigh In On Coinbase Global

Hedge funds have recently added to or reduced their stakes in the business. Banco Santander S.A. raised its position in shares of Coinbase Global by 12.7% during the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after purchasing an additional 16,737 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of Coinbase Global by 135.1% during the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock valued at $477,000 after buying an additional 1,540 shares during the period. CloudAlpha Capital Management Limited Hong Kong purchased a new stake in Coinbase Global in the 3rd quarter worth approximately $29,756,000. Lindbrook Capital LLC lifted its stake in shares of Coinbase Global by 30.2% during the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after purchasing an additional 6,963 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in Coinbase Global in the second quarter valued at $2,908,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

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.