Coinbase Global, Inc. (NASDAQ:COIN) Insider Paul Grewal Sells 10,978 Shares

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,978 shares of Coinbase Global stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the sale, the insider now owns 83,313 shares of the company’s stock, valued at $17,656,524.09. This represents a 11.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, January 2nd, Paul Grewal sold 10,000 shares of Coinbase Global stock. The shares were sold at an average price of $256.69, for a total transaction of $2,566,900.00.
• 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.

Coinbase Global Price Performance

COIN opened at $215.73 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The company has a market capitalization of $54.77 billion, a price-to-earnings ratio of 22.71 and a beta of 3.61. The firm’s fifty day moving average price is $268.11 and its two-hundred day moving average price is $240.95. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. As a group, analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coinbase Global

Hedge funds have recently made changes to their positions in the business. Banco Santander S.A. raised its stake in Coinbase Global by 12.7% in the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock valued at $26,531,000 after acquiring an additional 16,737 shares during the period. CloudAlpha Capital Management Limited Hong Kong bought a new stake in shares of Coinbase Global during the third quarter valued at about $29,756,000. Lindbrook Capital LLC increased its position in shares of Coinbase Global by 30.2% during the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock valued at $5,347,000 after buying an additional 6,963 shares during the period. Wellington Management Group LLP increased its position in shares of Coinbase Global by 168.2% during the third quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock valued at $4,648,000 after buying an additional 16,363 shares during the period. Finally, QRG Capital Management Inc. increased its position in shares of Coinbase Global by 237.5% during the third quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange’s stock valued at $5,834,000 after buying an additional 23,040 shares during the period. 68.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $350.00 price objective on shares of Coinbase Global in a research note on Friday, February 21st. Keefe, Bruyette & Woods lifted their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. The Goldman Sachs Group reduced their price target on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Barclays lifted their price target on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Finally, JMP Securities lifted their price target on shares of Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $311.56.

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.