Coinbase Global, Inc. (NASDAQ:COIN) Insider Paul Grewal Sells 10,000 Shares

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $221.47, for a total transaction of $2,214,700.00. Following the sale, the insider now owns 66,122 shares of the company’s stock, valued at $14,644,039.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, March 25th, Paul Grewal sold 10,257 shares of Coinbase Global stock. The shares were sold at an average price of $275.60, for a total value of $2,826,829.20.
• On Monday, February 26th, Paul Grewal sold 42,113 shares of Coinbase Global stock. The stock was sold at an average price of $190.34, for a total value of $8,015,788.42.

Coinbase Global Price Performance

COIN opened at $218.16 on Tuesday. Coinbase Global, Inc. has a 1 year low of $46.43 and a 1 year high of $283.48. The stock has a 50-day moving average price of $232.50 and a 200-day moving average price of $163.08. The firm has a market cap of $52.85 billion, a PE ratio of 808.00 and a beta of 3.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The business had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. During the same period in the previous year, the company earned ($2.46) earnings per share. The business’s revenue for the quarter was up 51.6% compared to the same quarter last year. Sell-side analysts predict that Coinbase Global, Inc. will post 2.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coinbase Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COIN. Barrett & Company Inc. purchased a new position in shares of Coinbase Global in the fourth quarter worth $26,000. Creekmur Asset Management LLC purchased a new position in Coinbase Global in the 4th quarter worth about $27,000. Mather Group LLC. purchased a new position in Coinbase Global in the 1st quarter worth about $32,000. AlphaMark Advisors LLC bought a new position in Coinbase Global during the 4th quarter valued at about $33,000. Finally, Signature Resources Capital Management LLC purchased a new stake in shares of Coinbase Global during the 4th quarter valued at about $39,000. 68.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. The Goldman Sachs Group raised shares of Coinbase Global from a “sell” rating to a “neutral” rating in a research report on Friday, March 8th. Piper Sandler increased their price target on shares of Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Oppenheimer raised their price objective on shares of Coinbase Global from $200.00 to $276.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. upped their target price on Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Finally, Bank of America raised their target price on Coinbase Global from $92.00 to $110.00 and gave the company an “underperform” rating in a research note on Wednesday, April 10th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $167.81.

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.