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 firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $307.80, for a total transaction of $2,186,611.20. Following the sale, the insider now owns 79,407 shares of the company’s stock, valued at approximately $24,441,474.60. The trade was a 8.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 value 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 Stock Up 6.0 %

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

Coinbase Global (NASDAQ:COIN) last released its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Coinbase Global’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) EPS. As a group, analysts expect that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Coinbase Global

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. RPg Family Wealth Advisory LLC bought a new stake in Coinbase Global in the 3rd quarter worth $25,000. Crewe Advisors LLC increased its stake in 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 purchased a new position in Coinbase Global in the 2nd quarter worth approximately $29,000. Versant Capital Management Inc lifted its holdings in shares of Coinbase Global by 75.0% during the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 57 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Coinbase Global during the 3rd quarter valued at about $32,000. Institutional investors own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Mizuho lifted their target price 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. HC Wainwright reissued a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a report on Tuesday, October 29th. Compass Point cut their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Monness Crespi & Hardt started coverage on Coinbase Global in a research note on Monday, October 28th. They set a “buy” rating and a $245.00 price objective on the stock. Finally, Piper Sandler restated a “neutral” rating and issued a $245.00 target price on shares of Coinbase Global in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock 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.