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

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,000 shares of the firm’s 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 completion of the transaction, the insider now owns 69,407 shares of the company’s stock, valued at approximately $17,816,082.83. The trade was a 12.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $307.80, for a total transaction 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 stock was 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 shares were sold at an average price of $209.98, for a total transaction of $2,099,800.00.

Coinbase Global Stock Down 8.1 %

NASDAQ COIN opened at $264.33 on Wednesday. The business has a fifty day moving average price of $283.16 and a 200 day moving average price of $228.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $66.18 billion, a P/E ratio of 45.11 and a beta of 3.59. Coinbase Global, Inc. has a one year low of $114.51 and a one year high of $349.75.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. RPg Family Wealth Advisory LLC purchased a new position in Coinbase Global during the third quarter worth approximately $25,000. ORG Wealth Partners LLC acquired a new stake in shares of Coinbase Global in the 3rd quarter worth $32,000. Abich Financial Wealth Management LLC raised its holdings in shares of Coinbase Global by 548.5% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock worth $48,000 after acquiring an additional 181 shares during the period. Brown Brothers Harriman & Co. boosted its position in shares of Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after acquiring an additional 204 shares during the last quarter. Finally, Quest Partners LLC grew its holdings in shares of Coinbase Global by 233.7% in the second quarter. Quest Partners LLC now owns 297 shares of the cryptocurrency exchange’s stock valued at $66,000 after purchasing an additional 208 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Needham & Company LLC boosted their price objective on Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a report on Monday, December 9th. Oppenheimer boosted their price target on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Barclays raised their price objective on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. The Goldman Sachs Group boosted their target price 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. Finally, Keefe, Bruyette & Woods raised their price target on shares of Coinbase Global from $165.00 to $275.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Coinbase Global currently has an average rating of “Hold” and a consensus target price of $288.44.

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.