Coinbase Global, Inc. (NASDAQ:COIN) Insider Paul Grewal Sells 10,978 Shares

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,978 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total value of $2,326,567.54. Following the completion of the transaction, the insider now owns 83,313 shares of the company’s stock, valued at $17,656,524.09. This represents a 11.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, January 2nd, Paul Grewal sold 10,000 shares of Coinbase Global stock. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00.
• On Monday, December 2nd, Paul Grewal sold 10,000 shares of Coinbase Global stock. The shares were sold at an average price of $305.71, for a total transaction of $3,057,100.00.

Coinbase Global Trading Down 2.2 %

Shares of COIN stock opened at $208.37 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a fifty day simple moving average of $269.37 and a two-hundred day simple moving average of $240.48. The firm has a market capitalization of $52.90 billion, a PE ratio of 21.93 and a beta of 3.61. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Coinbase Global

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Coinbase Global by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock valued at $4,573,462,000 after buying an additional 128,802 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Coinbase Global by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock valued at $882,822,000 after acquiring an additional 127,075 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Coinbase Global by 2.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock valued at $570,341,000 after purchasing an additional 71,398 shares in the last quarter. Clear Street Derivatives LLC bought a new stake in Coinbase Global in the third quarter worth $409,919,000. Finally, Norges Bank purchased a new stake in Coinbase Global during the fourth quarter valued at $536,484,000. 68.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on COIN shares. Oppenheimer reaffirmed an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. HC Wainwright reaffirmed a “buy” rating and issued a $350.00 price objective on shares of Coinbase Global in a report on Friday, February 21st. The Goldman Sachs Group lowered their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Barclays boosted their price target on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Finally, JMP Securities increased their price objective on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $311.56.

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.