Coinbase Global, Inc. (NASDAQ:COIN) Insider Paul Grewal Sells 7,104 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 7,104 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $307.80, for a total value of $2,186,611.20. Following the transaction, the insider now owns 79,407 shares of the company’s stock, valued at approximately $24,441,474.60. This trade represents a 8.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• 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.
• On Wednesday, September 25th, Paul Grewal sold 10,000 shares of Coinbase Global stock. The shares were sold at an average price of $170.10, for a total value of $1,701,000.00.

Coinbase Global Trading Up 6.0 %

Shares of COIN stock opened at $310.98 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a fifty-two week low of $114.51 and a fifty-two week high of $341.75. The stock has a 50 day simple moving average of $219.83 and a two-hundred day simple moving average of $216.55. The company has a market cap of $77.85 billion, a P/E ratio of 53.07 and a beta of 3.34.

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 analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the company posted ($0.01) earnings per share. The firm’s quarterly revenue was up 78.8% compared to the same quarter last year. Research analysts forecast that Coinbase Global, Inc. will post 4.27 earnings per share for the current year.

Institutional Investors Weigh In On Coinbase Global

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in shares of Coinbase Global by 10.1% in the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after purchasing an additional 314,388 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Coinbase Global by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after acquiring an additional 71,398 shares during the last quarter. Clear Street Derivatives LLC purchased a new stake in shares of Coinbase Global in the third quarter valued at about $409,919,000. Cowen AND Company LLC lifted its position in shares of Coinbase Global by 1.5% during the second quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock valued at $330,895,000 after purchasing an additional 22,071 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Coinbase Global by 185.9% during the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after purchasing an additional 691,288 shares during the last quarter. 68.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on COIN shares. B. Riley initiated coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a report on Tuesday, October 29th. Oppenheimer lifted their price target on shares of Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research report on Monday. Mizuho increased their price objective on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC boosted their price target on Coinbase Global from $290.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Coinbase Global currently has an average rating of “Hold” and an average target price of $255.22.

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.