Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) Insider Sells $488,000.00 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 1,952 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $250.00, for a total transaction of $488,000.00. Following the completion of the transaction, the insider now directly owns 81,773 shares of the company’s stock, valued at $20,443,250. The trade was a 2.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 transaction of $1,981,200.00.
• On Tuesday, February 25th, Paul Grewal sold 10,978 shares of Coinbase Global stock. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54.

Coinbase Global Trading Up 9.0%

COIN stock opened at $266.46 on Friday. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm has a market cap of $67.65 billion, a P/E ratio of 28.05 and a beta of 3.62. The company’s 50-day simple moving average is $191.65 and its 200-day simple moving average is $244.29.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in COIN. Mascagni Wealth Management Inc. acquired a new position in Coinbase Global during the fourth quarter worth $25,000. Copia Wealth Management purchased a new stake in shares of Coinbase Global during the fourth quarter worth about $26,000. Bessemer Group Inc. raised its position in shares of Coinbase Global by 297.4% during the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after purchasing an additional 113 shares during the last quarter. Wingate Wealth Advisors Inc. purchased a new position in Coinbase Global in the 4th quarter valued at about $27,000. Finally, Atala Financial Inc acquired a new stake in Coinbase Global in the 4th quarter worth about $27,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Cantor Fitzgerald began coverage on Coinbase Global in a research report on Tuesday, April 8th. They issued an “overweight” rating and a $245.00 target price on the stock. Citigroup reissued a “neutral” rating on shares of Coinbase Global in a report on Thursday, May 8th. Mizuho decreased their target price on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. HC Wainwright reiterated a “buy” rating and issued a $350.00 price target on shares of Coinbase Global in a report on Friday, February 21st. Finally, Bank of America reduced their price target on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Ten equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $265.20.

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.