Paul Grewal Sells 1,952 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 1,952 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $250.00, for a total value of $488,000.00. Following the sale, the insider now directly owns 81,773 shares of the company’s stock, valued at approximately $20,443,250. This represents a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, April 23rd, Paul Grewal sold 10,000 shares of Coinbase Global stock. The shares were sold at an average price of $198.12, for a total value of $1,981,200.00.
• On Tuesday, February 25th, Paul Grewal sold 10,978 shares of Coinbase Global stock. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54.

Coinbase Global Stock Performance

COIN opened at $266.46 on Friday. The stock has a market cap of $67.65 billion, a P/E ratio of 28.05 and a beta of 3.62. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The stock’s 50 day simple moving average is $191.65 and its 200 day simple moving average is $244.07. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.22 billion. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The business’s revenue was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.53 EPS. As a group, equities analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Keefe, Bruyette & Woods upped their price objective on Coinbase Global from $183.00 to $205.00 and gave the company a “market perform” rating in a research note on Friday, May 9th. Rosenblatt Securities reaffirmed a “buy” rating and set a $260.00 price objective on shares of Coinbase Global in a research note on Monday, May 12th. JPMorgan Chase & Co. cut their target price on Coinbase Global from $276.00 to $215.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Compass Point raised Coinbase Global from a “sell” rating to a “neutral” rating and set a $195.00 target price for the company in a research note on Monday, May 12th. Finally, Monness Crespi & Hardt raised Coinbase Global from a “neutral” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Tuesday. Ten research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.20.

Institutional Investors Weigh In On Coinbase Global

Institutional investors and hedge funds have recently modified their holdings of the company. McElhenny Sheffield Capital Management LLC acquired a new stake in Coinbase Global during the 4th quarter valued at $252,000. Savant Capital LLC acquired a new stake in Coinbase Global during the 4th quarter valued at $591,000. Principal Financial Group Inc. grew its holdings in Coinbase Global by 219.2% during the 3rd quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange’s stock valued at $9,558,000 after buying an additional 36,843 shares during the last quarter. Sara Bay Financial acquired a new stake in Coinbase Global during the 4th quarter valued at $230,000. Finally, Oxinas Partners Wealth Management LLC acquired a new stake in Coinbase Global during the 4th quarter valued at $265,000. Institutional investors and hedge funds 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.