Coinbase Global, Inc. (NASDAQ:COIN) Insider Sells $2,326,567.54 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,978 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the transaction, the insider now directly owns 83,313 shares of the company’s stock, valued at approximately $17,656,524.09. The trade was a 11.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Thursday, January 2nd, Paul Grewal sold 10,000 shares of Coinbase Global stock. The stock was sold at an average price of $256.69, for a total transaction of $2,566,900.00.
• On Monday, December 2nd, Paul Grewal sold 10,000 shares of Coinbase Global stock. The stock was sold at an average price of $305.71, for a total transaction of $3,057,100.00.

Coinbase Global Stock Up 3.5 %

Shares of COIN stock opened at $215.73 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The firm’s 50-day moving average is $268.11 and its 200-day moving average is $240.65. The stock has a market cap of $54.77 billion, a price-to-earnings ratio of 22.71 and a beta of 3.61. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Sell-side analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Coinbase Global in the 4th quarter valued at about $27,749,000. Chelsea Counsel Co. grew its stake in Coinbase Global by 176.5% in the 4th quarter. Chelsea Counsel Co. now owns 470 shares of the cryptocurrency exchange’s stock valued at $117,000 after buying an additional 300 shares during the last quarter. Bernard Wealth Management Corp. acquired a new position in Coinbase Global in the 4th quarter valued at about $56,000. Chokshi & Queen Wealth Advisors Inc acquired a new position in Coinbase Global in the 4th quarter valued at about $555,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Coinbase Global during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on COIN. Barclays boosted their price target on shares of Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. HC Wainwright reissued a “buy” rating and set a $350.00 price target on shares of Coinbase Global in a research report on Friday, February 21st. Needham & Company LLC reissued a “buy” rating and set a $330.00 price target on shares of Coinbase Global in a research report on Thursday, February 13th. Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Finally, JMP Securities boosted their price target on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $311.56.

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.