Coinbase Global, Inc. (NASDAQ:COIN) Insider Paul Grewal Sells 10,257 Shares

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,257 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the transaction, the insider now directly owns 66,122 shares in the company, valued at $18,223,223.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Monday, February 26th, Paul Grewal sold 42,113 shares of Coinbase Global stock. The stock was sold at an average price of $190.34, for a total transaction of $8,015,788.42.
• On Thursday, January 25th, Paul Grewal sold 10,000 shares of Coinbase Global stock. The stock was sold at an average price of $121.02, for a total transaction of $1,210,200.00.

Coinbase Global Price Performance

Coinbase Global stock opened at $256.70 on Thursday. Coinbase Global, Inc. has a 1 year low of $46.43 and a 1 year high of $283.48. The firm has a 50 day moving average price of $185.44 and a 200 day moving average price of $136.47. The company has a market cap of $62.19 billion, a price-to-earnings ratio of 950.74 and a beta of 3.36. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The company had revenue of $953.80 million during the quarter, compared to the consensus estimate of $826.10 million. During the same period in the previous year, the firm earned ($2.46) earnings per share. Coinbase Global’s revenue for the quarter was up 51.6% on a year-over-year basis. Sell-side analysts predict that Coinbase Global, Inc. will post 1.68 earnings per share for the current year.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors have recently bought and sold shares of the business. Fairfield Bush & CO. lifted its position in shares of Coinbase Global by 18.4% during the first quarter. Fairfield Bush & CO. now owns 1,770 shares of the cryptocurrency exchange’s stock worth $336,000 after purchasing an additional 275 shares in the last quarter. United Bank acquired a new position in shares of Coinbase Global during the first quarter worth $286,000. Bank of New York Mellon Corp lifted its position in shares of Coinbase Global by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 70,553 shares of the cryptocurrency exchange’s stock worth $13,394,000 after purchasing an additional 1,844 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Coinbase Global by 269.2% during the first quarter. American Century Companies Inc. now owns 7,147 shares of the cryptocurrency exchange’s stock worth $1,357,000 after purchasing an additional 5,211 shares in the last quarter. Finally, Synovus Financial Corp lifted its position in shares of Coinbase Global by 26.6% during the first quarter. Synovus Financial Corp now owns 1,103 shares of the cryptocurrency exchange’s stock worth $209,000 after purchasing an additional 232 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

COIN has been the subject of several recent analyst reports. Needham & Company LLC raised their target price on shares of Coinbase Global from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, January 8th. Wedbush raised their price objective on shares of Coinbase Global from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. HC Wainwright lifted their target price on shares of Coinbase Global from $115.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Piper Sandler lifted their target price on shares of Coinbase Global from $125.00 to $165.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Finally, Keefe, Bruyette & Woods upgraded shares of Coinbase Global from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $93.00 to $160.00 in a research report on Friday, February 16th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $136.30.

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.