Coinbase Global, Inc. (NASDAQ:COIN) Insider Sells $3,057,100.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $305.71, for a total transaction of $3,057,100.00. Following the completion of the sale, the insider now directly owns 69,407 shares in the company, valued at $21,218,413.97. This trade represents a 12.59 % decrease in their ownership of the stock. The transaction 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, 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.
• 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 transaction of $1,701,000.00.

Coinbase Global Price Performance

Shares of NASDAQ:COIN traded up $21.59 during trading on Wednesday, hitting $330.94. 15,568,935 shares of the stock were exchanged, compared to its average volume of 11,198,684. The company has a fifty day moving average price of $233.57 and a two-hundred day moving average price of $220.08. The company has a market cap of $82.85 billion, a PE ratio of 55.81 and a beta of 3.57. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 12-month low of $114.51 and a 12-month high of $341.75.

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

Institutional Investors Weigh In On Coinbase Global

Institutional investors and hedge funds have recently bought and sold shares of the stock. RPg Family Wealth Advisory LLC purchased a new stake in Coinbase Global in the 3rd quarter valued at approximately $25,000. Crewe Advisors LLC lifted its stake 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 worth $27,000 after purchasing an additional 104 shares during the period. ORG Wealth Partners LLC purchased a new position in shares of Coinbase Global during the 3rd quarter worth $32,000. Spirit of America Management Corp NY purchased a new position in shares of Coinbase Global during the 2nd quarter worth $33,000. Finally, Continuum Advisory LLC lifted its stake in shares of Coinbase Global by 3,000.0% during the 2nd quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on COIN shares. Oppenheimer upped their target price on shares of Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Monness Crespi & Hardt initiated coverage on shares of Coinbase Global in a research report on Monday, October 28th. They set a “buy” rating and a $245.00 price objective on the stock. Needham & Company LLC raised their price objective on shares of Coinbase Global from $290.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. B. Riley initiated coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective on the stock. Finally, Barclays raised their price objective on shares of Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, Coinbase Global presently has an average rating of “Hold” and a consensus target price of $265.33.

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.