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

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 7,104 shares of the business’s stock in a transaction on 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 $24,441,474.60. This trade represents a 8.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

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

Coinbase Global Stock Up 6.0 %

COIN stock opened at $310.98 on Friday. The company has a 50 day moving average of $222.79 and a two-hundred day moving average of $217.21. The company has a market cap of $77.85 billion, a price-to-earnings ratio of 53.07 and a beta of 3.34. Coinbase Global, Inc. has a 12-month low of $114.51 and a 12-month high of $341.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) 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 firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the business posted ($0.01) earnings per share. Coinbase Global’s revenue was up 78.8% on a year-over-year basis. On average, equities analysts anticipate that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coinbase Global

Several large investors have recently made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new stake in Coinbase Global in the third quarter valued at approximately $25,000. Crewe Advisors LLC raised its holdings in shares of Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after purchasing an additional 104 shares in the last quarter. Lynx Investment Advisory acquired a new stake in shares of Coinbase Global in the 2nd quarter valued at $29,000. Versant Capital Management Inc boosted its holdings in Coinbase Global by 75.0% in the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 57 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in Coinbase Global during the third quarter worth $32,000. Institutional investors own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Bank of America raised their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Monness Crespi & Hardt assumed coverage on Coinbase Global in a report on Monday, October 28th. They issued a “buy” rating and a $245.00 price objective for the company. Barclays raised their target price on Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Mizuho boosted their price target on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Finally, Oppenheimer boosted their target price on shares of Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company 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.