Coinbase Global, Inc. (NASDAQ:COIN) Insider Sells $2,357,500.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $235.75, for a total transaction of $2,357,500.00. Following the sale, the insider now owns 71,195 shares in the company, valued at approximately $16,784,221.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, June 25th, Paul Grewal sold 10,000 shares of Coinbase Global stock. The shares were sold at an average price of $219.45, for a total transaction of $2,194,500.00.
• On Tuesday, May 28th, Paul Grewal sold 17,444 shares of Coinbase Global stock. The stock was sold at an average price of $239.07, for a total transaction of $4,170,337.08.

Coinbase Global Price Performance

Shares of COIN stock traded down $6.05 on Monday, hitting $236.88. 8,197,878 shares of the stock traded hands, compared to its average volume of 11,354,154. The firm has a market cap of $58.17 billion, a price-to-earnings ratio of 48.94 and a beta of 3.40. Coinbase Global, Inc. has a 52 week low of $69.63 and a 52 week high of $283.48. The firm has a 50 day simple moving average of $235.30 and a two-hundred day simple moving average of $212.30. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.61. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. As a group, equities research analysts predict that Coinbase Global, Inc. will post 4.95 earnings per share for the current fiscal year.

Institutional Trading of Coinbase Global

A number of institutional investors and hedge funds have recently bought and sold shares of COIN. Salem Investment Counselors Inc. grew its stake in shares of Coinbase Global by 162.9% in the 1st quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock worth $49,000 after buying an additional 114 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of Coinbase Global by 454.3% in the 1st 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. Paragon Capital Management Ltd grew its stake in shares of Coinbase Global by 58.6% in the 1st quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock worth $61,418,000 after buying an additional 85,573 shares in the last quarter. Edgestream Partners L.P. grew its stake in shares of Coinbase Global by 93.5% in the 1st quarter. Edgestream Partners L.P. now owns 14,793 shares of the cryptocurrency exchange’s stock worth $3,922,000 after buying an additional 7,148 shares in the last quarter. Finally, Raymond James & Associates grew its stake in shares of Coinbase Global by 65.5% in the 4th quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock worth $4,203,000 after buying an additional 9,564 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on COIN. Bank of America upgraded shares of Coinbase Global from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $110.00 to $217.00 in a report on Friday, May 17th. Barclays dropped their price target on shares of Coinbase Global from $204.00 to $196.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 10th. The Goldman Sachs Group dropped their price target on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $260.00 price target on shares of Coinbase Global in a research note on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $237.50.

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.