Coinbase Global, Inc. (NASDAQ:COIN) Insider Sells $2,194,500.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $219.45, for a total transaction of $2,194,500.00. Following the completion of the transaction, the insider now owns 71,195 shares in the company, valued at $15,623,742.75. The transaction was disclosed in a document filed with the SEC, which is available at 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 shares were 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 stock was sold at an average price of $221.47, for a total value of $2,214,700.00.

Coinbase Global Stock Performance

Coinbase Global stock opened at $222.23 on Friday. Coinbase Global, Inc. has a 12-month low of $68.15 and a 12-month high of $283.48. The stock has a 50-day simple moving average of $227.70 and a 200 day simple moving average of $201.84. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $54.57 billion, a price-to-earnings ratio of 44.36 and a beta of 3.44.

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a research note on Friday, May 3rd. Bank of America upgraded Coinbase Global from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $110.00 to $217.00 in a research report on Friday, May 17th. Sanford C. Bernstein upped their target price on Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Singular Research reaffirmed a “buy” rating on shares of Coinbase Global in a research report on Wednesday, May 8th. Finally, Raymond James upgraded shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research note on Tuesday, March 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Coinbase Global presently has an average rating of “Hold” and a consensus target price of $215.50.

Institutional Investors Weigh In On Coinbase Global

A number of institutional investors and hedge funds have recently made changes to their positions in COIN. Vanguard Group Inc. increased its position in Coinbase Global by 18.4% in the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after purchasing an additional 2,624,989 shares during the period. Morgan Stanley raised its stake in shares of Coinbase Global by 18.5% during the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after buying an additional 511,397 shares during the last quarter. Norges Bank acquired a new position in Coinbase Global in the fourth quarter valued at approximately $202,936,000. Northern Trust Corp boosted its stake in Coinbase Global by 4.3% in the third quarter. Northern Trust Corp now owns 897,166 shares of the cryptocurrency exchange’s stock valued at $67,359,000 after acquiring an additional 37,019 shares during the last quarter. Finally, a16z Perennial Management L.P. acquired a new stake in Coinbase Global during the 4th quarter worth $147,646,000. Institutional investors own 68.84% of the company’s stock.

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.