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 firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $219.45, for a total transaction of $2,194,500.00. Following the transaction, the insider now owns 71,195 shares of the company’s stock, valued at approximately $15,623,742.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, May 28th, Paul Grewal sold 17,444 shares of Coinbase Global stock. The stock was sold at an average price of $239.07, for a total transaction of $4,170,337.08.
• On Thursday, April 25th, Paul Grewal sold 10,000 shares of Coinbase Global stock. The shares were sold at an average price of $221.47, for a total transaction of $2,214,700.00.

Coinbase Global Stock Down 0.8 %

COIN opened at $222.23 on Friday. Coinbase Global, Inc. has a fifty-two week low of $68.15 and a fifty-two week high of $283.48. The firm has a market capitalization of $54.57 billion, a P/E ratio of 44.36 and a beta of 3.44. The company’s 50-day moving average is $227.70 and its 200 day moving average is $201.84. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, topping the consensus estimate of $1.04 by $0.61. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. Research analysts expect that Coinbase Global, Inc. will post 5.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coinbase Global

Large investors have recently made changes to their positions in the business. Chelsea Counsel Co. bought a new position in Coinbase Global during the first quarter valued at about $45,000. DekaBank Deutsche Girozentrale grew its position in shares of Coinbase Global by 5.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 27,094 shares of the cryptocurrency exchange’s stock valued at $7,075,000 after acquiring an additional 1,349 shares during the period. EULAV Asset Management purchased a new stake in shares of Coinbase Global during the 1st quarter worth approximately $13,521,000. Cetera Advisors LLC raised its holdings in shares of Coinbase Global by 49.2% in the 1st quarter. Cetera Advisors LLC now owns 10,911 shares of the cryptocurrency exchange’s stock worth $2,893,000 after purchasing an additional 3,597 shares during the period. Finally, Cetera Investment Advisers lifted its stake in Coinbase Global by 303.5% in the first quarter. Cetera Investment Advisers now owns 25,935 shares of the cryptocurrency exchange’s stock valued at $6,876,000 after purchasing an additional 19,508 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Canaccord Genuity Group raised their price objective on shares of Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Piper Sandler boosted their target price on shares of Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. JMP Securities restated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a report on Friday, May 3rd. Finally, Oppenheimer upped their price objective on shares of Coinbase Global from $276.00 to $282.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $215.50.

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.