Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) Insider Sells 10,000 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,000 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $209.98, for a total transaction of $2,099,800.00. Following the transaction, the insider now directly owns 74,956 shares in the company, valued at approximately $15,739,260.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• 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.
• On Monday, August 26th, Paul Grewal sold 16,962 shares of Coinbase Global stock. The shares were sold at an average price of $206.96, for a total value of $3,510,455.52.

Coinbase Global Stock Up 1.6 %

Shares of NASDAQ:COIN traded up $3.56 during midday trading on Tuesday, reaching $219.66. The company’s stock had a trading volume of 11,469,746 shares, compared to its average volume of 10,393,186. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average of $181.38 and a 200-day moving average of $209.38. The firm has a market capitalization of $53.94 billion, a P/E ratio of 44.28 and a beta of 3.35. Coinbase Global, Inc. has a 12-month low of $71.88 and a 12-month high of $283.48.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter last year, the company posted ($0.42) EPS. Coinbase Global’s revenue for the quarter was up 104.8% compared to the same quarter last year. On average, research analysts anticipate that Coinbase Global, Inc. will post 3.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

COIN has been the subject of several recent research reports. B. Riley started coverage on Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a report on Tuesday. Monness Crespi & Hardt assumed coverage on shares of Coinbase Global in a report on Monday. They issued a “buy” rating and a $245.00 price target on the stock. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $260.00 to $345.00 in a research report on Tuesday, July 23rd. Finally, Bank of America dropped their target price on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Coinbase Global presently has an average rating of “Hold” and a consensus target price of $242.94.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC increased its holdings in shares of Coinbase Global by 135.1% during the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock valued at $477,000 after acquiring an additional 1,540 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Coinbase Global in the second quarter worth about $2,908,000. Intech Investment Management LLC lifted its stake in shares of Coinbase Global by 454.3% in the first quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock worth $10,752,000 after buying an additional 33,240 shares in the last quarter. QRG Capital Management Inc. lifted its stake in shares of Coinbase Global by 130.5% in the second quarter. QRG Capital Management Inc. now owns 9,703 shares of the cryptocurrency exchange’s stock worth $2,156,000 after buying an additional 5,493 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Coinbase Global by 122.2% during the third quarter. Blue Trust Inc. now owns 7,503 shares of the cryptocurrency exchange’s stock valued at $1,337,000 after buying an additional 4,127 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

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.