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

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $219.45, for a total value of $2,194,500.00. Following the transaction, the insider now owns 71,195 shares in the company, valued at $15,623,742.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 value of $4,170,337.08.
• On Thursday, April 25th, Paul Grewal sold 10,000 shares of Coinbase Global stock. The shares were sold at an average price of $221.47, for a total value of $2,214,700.00.

Coinbase Global Stock Performance

NASDAQ COIN opened at $222.23 on Friday. The company has a fifty day moving average of $227.70 and a two-hundred day moving average of $201.41. The company has a market capitalization of $54.57 billion, a PE ratio of 44.36 and a beta of 3.44. Coinbase Global, Inc. has a 1 year low of $68.15 and a 1 year high of $283.48. 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 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 firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. As a group, analysts expect that Coinbase Global, Inc. will post 5.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

COIN has been the subject of a number of research reports. Canaccord Genuity Group lifted their price objective on shares of Coinbase Global from $240.00 to $280.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Keefe, Bruyette & Woods increased their price objective on Coinbase Global from $230.00 to $240.00 and gave the company a “market perform” rating in a research note on Friday, May 3rd. Raymond James raised Coinbase Global from an “underperform” rating to a “market perform” rating in a research note on Tuesday, March 12th. Oppenheimer increased their price target on Coinbase Global from $276.00 to $282.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, Mizuho boosted their price objective on Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a research report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $215.50.

Hedge Funds Weigh In On Coinbase Global

A number of institutional investors have recently modified their holdings of COIN. Chelsea Counsel Co. purchased a new position in Coinbase Global during the 1st quarter worth $45,000. DekaBank Deutsche Girozentrale grew its holdings in shares of Coinbase Global by 5.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 27,094 shares of the cryptocurrency exchange’s stock worth $7,075,000 after buying an additional 1,349 shares during the last quarter. EULAV Asset Management acquired a new position in Coinbase Global in the 1st quarter valued at about $13,521,000. Cetera Advisors LLC raised its stake in Coinbase Global by 49.2% during the 1st quarter. Cetera Advisors LLC now owns 10,911 shares of the cryptocurrency exchange’s stock valued at $2,893,000 after acquiring an additional 3,597 shares during the last quarter. Finally, Cetera Investment Advisers lifted its position in Coinbase Global by 303.5% during the 1st quarter. Cetera Investment Advisers now owns 25,935 shares of the cryptocurrency exchange’s stock worth $6,876,000 after acquiring an additional 19,508 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

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.