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 stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00. Following the sale, the insider now directly owns 69,407 shares in the company, valued at $17,816,082.83. This represents a 12.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, November 25th, Paul Grewal sold 7,104 shares of Coinbase Global stock. The shares were sold at an average price of $307.80, for a total value of $2,186,611.20.
• On Monday, December 2nd, Paul Grewal sold 10,000 shares of Coinbase Global stock. The shares were sold at an average price of $305.71, for a total transaction of $3,057,100.00.
• On Monday, November 25th, Paul Grewal sold 7,104 shares of Coinbase Global stock. The shares were sold at an average price of $307.80, for a total transaction of $2,186,611.20.
• On Friday, October 25th, Paul Grewal sold 10,000 shares of Coinbase Global stock. The stock was sold at an average price of $209.98, for a total transaction of $2,099,800.00.

Coinbase Global Trading Up 6.3 %

Shares of COIN stock traded up $17.11 during trading on Monday, hitting $287.76. 10,787,533 shares of the stock traded hands, compared to its average volume of 7,668,262. Coinbase Global, Inc. has a 52-week low of $114.51 and a 52-week high of $349.75. The firm has a market capitalization of $72.04 billion, a P/E ratio of 49.11 and a beta of 3.59. The firm’s fifty day moving average price is $280.83 and its 200-day moving average price is $228.15. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same period last year, the company earned ($0.01) EPS. As a group, research analysts forecast that Coinbase Global, Inc. will post 4.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on COIN shares. Monness Crespi & Hardt boosted their price objective on Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. HC Wainwright reissued a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a research note on Tuesday, October 29th. The Goldman Sachs Group raised their price target on shares of Coinbase Global from $183.00 to $397.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Keefe, Bruyette & Woods boosted their price objective on Coinbase Global from $165.00 to $275.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Finally, Oppenheimer raised their target price on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $286.22.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its position in shares of Coinbase Global by 15.6% during the second quarter. Principal Financial Group Inc. now owns 16,805 shares of the cryptocurrency exchange’s stock worth $3,735,000 after buying an additional 2,264 shares during the period. Larson Financial Group LLC lifted its position in shares of Coinbase Global by 12.1% during the second quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock worth $118,000 after purchasing an additional 57 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Coinbase Global by 23.7% in the second quarter. Victory Capital Management Inc. now owns 60,761 shares of the cryptocurrency exchange’s stock valued at $13,503,000 after purchasing an additional 11,627 shares during the period. Candriam S.C.A. increased its stake in Coinbase Global by 9.8% during the 2nd quarter. Candriam S.C.A. now owns 10,506 shares of the cryptocurrency exchange’s stock worth $2,335,000 after buying an additional 938 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in Coinbase Global by 24.2% during the 2nd quarter. Los Angeles Capital Management LLC now owns 1,376 shares of the cryptocurrency exchange’s stock worth $306,000 after buying an additional 268 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

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.