Coinbase Global, Inc. (NASDAQ:COIN) Insider Paul Grewal Sells 10,978 Shares

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,978 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 83,313 shares in the company, valued at approximately $17,656,524.09. This represents a 11.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

Coinbase Global Stock Down 2.2 %

Shares of COIN stock traded down $4.59 during mid-day trading on Thursday, reaching $208.37. 8,054,381 shares of the company were exchanged, compared to its average volume of 9,024,143. 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 business’s 50 day simple moving average is $270.68 and its 200 day simple moving average is $240.71. The company has a market capitalization of $52.90 billion, a P/E ratio of 21.93 and a beta of 3.61. Coinbase Global, Inc. has a fifty-two week low of $146.12 and a fifty-two week high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Institutional Investors Weigh In On Coinbase Global

Several institutional investors and hedge funds have recently made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new position in Coinbase Global in the third quarter worth $25,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Coinbase Global in the 4th quarter valued at about $27,000. Atala Financial Inc acquired a new position in shares of Coinbase Global in the 4th quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 106 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Coinbase Global during the fourth quarter worth about $35,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

COIN has been the topic of a number of research reports. Bank of America cut their price objective on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a report on Tuesday. Barclays raised their price target on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Canaccord Genuity Group boosted their price objective on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. The Goldman Sachs Group cut their target price on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Finally, Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.