Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) Insider Sells $546,599.04 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 1,952 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $280.02, for a total value of $546,599.04. Following the transaction, the insider now owns 82,328 shares of the company's stock, valued at approximately $23,053,486.56. This trade represents a 2.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, May 27th, Paul Grewal sold 12,931 shares of Coinbase Global stock. The stock was sold at an average price of $267.29, for a total value of $3,456,326.99.
• On Tuesday, May 13th, Paul Grewal sold 1,952 shares of Coinbase Global stock. The shares were sold at an average price of $250.00, for a total value of $488,000.00.
• On Wednesday, April 23rd, Paul Grewal sold 10,000 shares of Coinbase Global stock. The stock was sold at an average price of $198.12, for a total value of $1,981,200.00.

Coinbase Global Stock Performance

Coinbase Global stock traded up $37.23 during trading on Tuesday, reaching $344.82. The company had a trading volume of 29,565,188 shares, compared to its average volume of 10,453,897. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $349.75. The firm's 50-day simple moving average is $238.44 and its 200 day simple moving average is $240.34. The firm has a market capitalization of $87.54 billion, a price-to-earnings ratio of 64.57, a price-to-earnings-growth ratio of 22.50 and a beta of 3.62. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. Coinbase Global's revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.53 earnings per share. Sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. KCM Investment Advisors LLC bought a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $507,000. Principal Securities Inc. grew its stake in Coinbase Global by 35.3% during the 4th quarter. Principal Securities Inc. now owns 1,032 shares of the cryptocurrency exchange's stock valued at $256,000 after purchasing an additional 269 shares during the last quarter. Kingswood Wealth Advisors LLC grew its stake in Coinbase Global by 124.5% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 2,622 shares of the cryptocurrency exchange's stock valued at $453,000 after purchasing an additional 1,454 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in Coinbase Global by 10.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,456 shares of the cryptocurrency exchange's stock valued at $610,000 after purchasing an additional 232 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC boosted its stake in shares of Coinbase Global by 87.0% in the first quarter. Wealthcare Advisory Partners LLC now owns 3,355 shares of the cryptocurrency exchange's stock worth $578,000 after buying an additional 1,561 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on COIN. Canaccord Genuity Group reiterated a "buy" rating and set a $400.00 price objective on shares of Coinbase Global in a report on Friday, May 9th. Jefferies Financial Group reissued a "hold" rating and set a $260.00 price target (up from $210.00) on shares of Coinbase Global in a report on Tuesday, May 27th. JMP Securities reissued a "market outperform" rating and set a $400.00 price target on shares of Coinbase Global in a report on Thursday, May 8th. Needham & Company LLC lowered their price objective on Coinbase Global from $330.00 to $270.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Finally, Barclays lifted their price target on Coinbase Global from $169.00 to $202.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $277.33.

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.