Paul Grewal Sells 12,931 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 12,931 shares of Coinbase Global stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $267.29, for a total value of $3,456,326.99. Following the transaction, the insider now directly owns 84,280 shares in the company, valued at $22,527,201.20. The trade was a 13.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Tuesday, May 13th, Paul Grewal sold 1,952 shares of Coinbase Global stock. The stock was sold at an average price of $250.00, for a total transaction 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 transaction of $1,981,200.00.

Coinbase Global Stock Up 0.0%

NASDAQ COIN traded up $0.10 during mid-day trading on Monday, hitting $246.72. The company's stock had a trading volume of 6,133,122 shares, compared to its average volume of 10,154,672. The firm has a market capitalization of $62.64 billion, a price-to-earnings ratio of 25.97 and a beta of 3.62. The company's 50 day simple moving average is $206.68 and its 200 day simple moving average is $244.67. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings data 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 business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. The firm's quarterly revenue was up 24.2% on a year-over-year basis. During the same period last year, the business posted $2.53 earnings per share. Analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on COIN shares. Jefferies Financial Group restated a "hold" rating and issued a $260.00 target price (up previously from $210.00) on shares of Coinbase Global in a report on Tuesday, May 27th. Mizuho lowered their price objective on Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. JPMorgan Chase & Co. cut their target price on Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Barclays raised their target price on Coinbase Global from $169.00 to $202.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $400.00 target price on shares of Coinbase Global in a report on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $266.10.

Hedge Funds Weigh In On Coinbase Global

Several large investors have recently added to or reduced their stakes in the business. Strs Ohio purchased a new stake in shares of Coinbase Global in the first quarter worth approximately $13,535,000. Jacobi Capital Management LLC grew its holdings in Coinbase Global by 14.0% during the first quarter. Jacobi Capital Management LLC now owns 1,976 shares of the cryptocurrency exchange's stock worth $340,000 after buying an additional 243 shares in the last quarter. Chelsea Counsel Co. raised its position in Coinbase Global by 21.3% in the 1st quarter. Chelsea Counsel Co. now owns 570 shares of the cryptocurrency exchange's stock valued at $98,000 after buying an additional 100 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Coinbase Global in the 1st quarter valued at $4,818,000. Finally, Geneos Wealth Management Inc. lifted its stake in Coinbase Global by 43.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 945 shares of the cryptocurrency exchange's stock valued at $163,000 after acquiring an additional 284 shares in the last quarter. Institutional investors own 68.84% of the company's stock.

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.