Coinbase Global, Inc. (NASDAQ:COIN) Insider Paul Grewal Sells 16,962 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 16,962 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $206.96, for a total value of $3,510,455.52. Following the completion of the transaction, the insider now directly owns 75,556 shares in the company, valued at $15,637,069.76. The sale 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 Thursday, July 25th, Paul Grewal sold 10,000 shares of Coinbase Global stock. The shares were sold at an average price of $235.75, for a total value of $2,357,500.00.
• On Tuesday, June 25th, Paul Grewal sold 10,000 shares of Coinbase Global stock. The shares were sold at an average price of $219.45, for a total value of $2,194,500.00.

Coinbase Global Price Performance

Shares of COIN stock opened at $194.00 on Thursday. The stock’s fifty day moving average is $218.19 and its 200-day moving average is $223.59. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $47.64 billion, a PE ratio of 37.96 and a beta of 3.40. Coinbase Global, Inc. has a 52 week low of $69.63 and a 52 week high of $283.48.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.93). The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a return on equity of 14.72% and a net margin of 31.46%. Coinbase Global’s revenue for the quarter was up 104.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.42) EPS. Equities research analysts expect that Coinbase Global, Inc. will post 4.95 EPS for the current fiscal year.

Institutional Trading of Coinbase Global

Several large investors have recently made changes to their positions in the business. Heritage Oak Wealth Advisors LLC acquired a new position in shares of Coinbase Global during the second quarter valued at $462,000. Cetera Investment Advisers lifted its stake in shares of Coinbase Global by 9.1% during the second quarter. Cetera Investment Advisers now owns 28,306 shares of the cryptocurrency exchange’s stock valued at $6,291,000 after acquiring an additional 2,371 shares during the period. Granite Bay Wealth Management LLC acquired a new position in shares of Coinbase Global during the second quarter valued at $5,476,000. Truist Financial Corp lifted its stake in shares of Coinbase Global by 12.1% during the second quarter. Truist Financial Corp now owns 5,988 shares of the cryptocurrency exchange’s stock valued at $1,331,000 after acquiring an additional 646 shares during the period. Finally, EP Wealth Advisors LLC acquired a new position in shares of Coinbase Global during the second quarter valued at $1,220,000. Institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on COIN shares. Oppenheimer raised their price objective on Coinbase Global from $276.00 to $282.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research report on Friday, August 2nd. Barclays lifted their price target on Coinbase Global from $196.00 to $206.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Bank of America cut their target price on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Wedbush upped their target price on Coinbase Global from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $248.38.

Coinbase Global Company Profile

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.