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 that occurred on Thursday, April 25th. The shares were sold at an average price of $221.47, for a total value of $2,214,700.00. Following the completion of the transaction, the insider now directly owns 66,122 shares in the company, valued at $14,644,039.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Monday, March 25th, Paul Grewal sold 10,257 shares of Coinbase Global stock. The shares were sold at an average price of $275.60, for a total value of $2,826,829.20.
• On Monday, February 26th, Paul Grewal sold 42,113 shares of Coinbase Global stock. The shares were sold at an average price of $190.34, for a total value of $8,015,788.42.

Coinbase Global Stock Down 7.7 %

NASDAQ:COIN traded down $18.16 on Monday, hitting $218.16. 9,515,255 shares of the company’s stock traded hands, compared to its average volume of 13,427,663. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. Coinbase Global, Inc. has a 1 year low of $46.43 and a 1 year high of $283.48. The firm has a 50-day moving average price of $231.74 and a 200-day moving average price of $162.07. The company has a market cap of $52.85 billion, a PE ratio of 808.74 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $1.13. The company had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The business’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.46) EPS. Equities analysts anticipate that Coinbase Global, Inc. will post 2.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Coinbase Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mather Group LLC. acquired a new stake in Coinbase Global in the 1st quarter worth approximately $32,000. Barrett & Company Inc. acquired a new stake in Coinbase Global in the 4th quarter worth approximately $26,000. Creekmur Asset Management LLC acquired a new stake in Coinbase Global in the 4th quarter worth approximately $27,000. Riverview Trust Co acquired a new stake in Coinbase Global in the 1st quarter worth approximately $43,000. Finally, Salem Investment Counselors Inc. lifted its holdings in 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 purchasing an additional 114 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on COIN shares. Mizuho lifted their target price on Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. increased their price target on Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. The Goldman Sachs Group upgraded Coinbase Global from a “sell” rating to a “neutral” rating in a research note on Friday, March 8th. HC Wainwright raised their target price on Coinbase Global from $250.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Oppenheimer lifted their price objective on Coinbase Global from $200.00 to $276.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $167.81.

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.