Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) Insider Sells 1,090 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 1,090 shares of Coinbase Global stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $67.26, for a total value of $73,313.40. Following the transaction, the insider now owns 43,220 shares of the company’s stock, valued at approximately $2,906,977.20. The sale 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 Friday, February 25th, Paul Grewal sold 1,207 shares of Coinbase Global stock. The stock was sold at an average price of $173.87, for a total value of $209,861.09.

Shares of COIN traded up $2.62 during mid-day trading on Thursday, reaching $69.79. 355,317 shares of the company’s stock traded hands, compared to its average volume of 7,547,486. The stock has a market cap of $15.32 billion and a P/E ratio of 7.16. The stock’s 50-day moving average is $133.51 and its two-hundred day moving average is $201.04. Coinbase Global, Inc. has a 12 month low of $40.83 and a 12 month high of $368.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.55 and a quick ratio of 1.55.

Coinbase Global (NASDAQ:COINGet Rating) last released its earnings results on Tuesday, May 10th. The cryptocurrency exchange reported ($1.98) EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($2.72). The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.48 billion. Coinbase Global had a net margin of 33.63% and a return on equity of 42.39%. The company’s quarterly revenue was down 35.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.05 EPS. Research analysts predict that Coinbase Global, Inc. will post -7.6 earnings per share for the current year.

COIN has been the subject of several research analyst reports. Needham & Company LLC cut their price objective on Coinbase Global from $360.00 to $173.00 in a report on Wednesday, May 11th. Daiwa Capital Markets initiated coverage on Coinbase Global in a report on Friday, April 22nd. They issued a “buy” rating for the company. Cowen began coverage on Coinbase Global in a report on Thursday. They issued an “outperform” rating for the company. Wedbush cut their price target on Coinbase Global from $160.00 to $100.00 in a report on Wednesday, May 11th. Finally, Moffett Nathanson cut their price target on Coinbase Global from $600.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $240.05.

A number of large investors have recently made changes to their positions in the stock. Jacobi Capital Management LLC grew its stake in Coinbase Global by 2.1% in the third quarter. Jacobi Capital Management LLC now owns 1,454 shares of the cryptocurrency exchange’s stock worth $331,000 after purchasing an additional 30 shares in the last quarter. United Capital Financial Advisers LLC boosted its position in Coinbase Global by 0.5% during the 3rd quarter. United Capital Financial Advisers LLC now owns 7,453 shares of the cryptocurrency exchange’s stock valued at $1,695,000 after acquiring an additional 37 shares in the last quarter. Scotia Capital Inc. boosted its position in Coinbase Global by 2.9% during the 3rd quarter. Scotia Capital Inc. now owns 1,758 shares of the cryptocurrency exchange’s stock valued at $400,000 after acquiring an additional 49 shares in the last quarter. Center for Financial Planning Inc. boosted its position in Coinbase Global by 40.2% during the 4th quarter. Center for Financial Planning Inc. now owns 178 shares of the cryptocurrency exchange’s stock valued at $45,000 after acquiring an additional 51 shares in the last quarter. Finally, Blue Square Asset Management LLC boosted its position in Coinbase Global by 1.1% during the 4th quarter. Blue Square Asset Management LLC now owns 4,701 shares of the cryptocurrency exchange’s stock valued at $1,186,000 after acquiring an additional 51 shares in the last quarter. 39.01% of the stock is currently owned by institutional investors.

About Coinbase Global (Get Rating)

Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.

Further Reading

Insider Buying and Selling by Quarter for Coinbase Global (NASDAQ:COIN)

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