Coinbase Global, Inc. (NASDAQ:COIN) Insider Sells $2,214,700.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,000 shares of Coinbase Global 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 directly owns 66,122 shares in the company, valued at approximately $14,644,039.34. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

Coinbase Global Price Performance

COIN stock opened at $210.09 on Thursday. Coinbase Global, Inc. has a one year low of $46.43 and a one year high of $283.48. The company’s fifty day moving average price is $233.11 and its 200-day moving average price is $163.99. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $50.90 billion, a PE ratio of 778.11 and a beta of 3.41.

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

Institutional Investors Weigh In On Coinbase Global

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Coinbase Global by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 14,281,280 shares of the cryptocurrency exchange’s stock valued at $2,483,800,000 after purchasing an additional 408,046 shares in the last quarter. Morgan Stanley raised its stake in shares of Coinbase Global by 18.5% in the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after acquiring an additional 511,397 shares during the period. Norges Bank purchased a new stake in shares of Coinbase Global in the fourth quarter valued at $202,936,000. Northern Trust Corp raised its stake in shares of 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 period. Finally, a16z Perennial Management L.P. purchased a new stake in shares of Coinbase Global in the fourth quarter valued at $147,646,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on COIN shares. JMP Securities reissued a “market outperform” rating on shares of Coinbase Global in a research report on Friday, March 22nd. Keefe, Bruyette & Woods lifted their price target on shares of Coinbase Global from $160.00 to $230.00 and gave the company a “market perform” rating in a research report on Wednesday, April 3rd. Canaccord Genuity Group reissued a “buy” rating and set a $240.00 price target on shares of Coinbase Global in a research report on Thursday, March 28th. JPMorgan Chase & Co. lifted their price target on shares of Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Finally, Sanford C. Bernstein lifted their target price on shares of Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.