Coinbase Global (NASDAQ:COIN) Insider Sells 10,000 Shares

Key Points

• Coinbase Global insider Paul Grewal sold 10,000 shares of the company's stock on October 1st for approximately $3.46 million, resulting in a 10.83% decrease in his ownership stake.
• As of the latest data, Coinbase Global shares opened at $387.27 and have a market capitalization of $99.51 billion, with a 52-week trading range of $142.58 to $444.64.
• Analysts have set a consensus target price of $367.12 for Coinbase Global, with ratings ranging from Strong Buy to Sell, underlining the mixed sentiment among investors.

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $345.88, for a total value of $3,458,800.00. Following the sale, the insider directly owned 82,328 shares in the company, valued at approximately $28,475,608.64. The trade was a 10.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Tuesday, September 2nd, Paul Grewal sold 10,000 shares of Coinbase Global stock. The shares were sold at an average price of $304.52, for a total value of $3,045,200.00.
• On Monday, August 25th, Paul Grewal sold 15,439 shares of Coinbase Global stock. The shares were sold at an average price of $310.80, for a total value of $4,798,441.20.

Coinbase Global Stock Up 3.1%

Shares of Coinbase Global stock opened at $387.27 on Thursday. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The firm has a market cap of $99.51 billion, a P/E ratio of 37.45 and a beta of 3.68. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The business has a 50-day moving average price of $324.03 and a 200 day moving average price of $284.83.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.79). The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The business's revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.14 earnings per share. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coinbase Global

A number of hedge funds have recently bought and sold shares of COIN. Envestnet Asset Management Inc. raised its position in shares of Coinbase Global by 24.0% during the first quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange's stock valued at $8,861,000 after buying an additional 9,952 shares during the last quarter. Amalgamated Bank grew its stake in Coinbase Global by 4.8% during the first quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange's stock worth $2,368,000 after buying an additional 629 shares during the last quarter. Kera Capital Partners Inc. grew its stake in Coinbase Global by 3.0% during the second quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange's stock worth $12,954,000 after buying an additional 1,085 shares during the last quarter. Parallel Advisors LLC grew its stake in Coinbase Global by 102.6% during the second quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange's stock worth $3,738,000 after buying an additional 5,402 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Coinbase Global by 8.1% during the first quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange's stock valued at $193,000 after purchasing an additional 84 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Williams Trading set a $405.00 price objective on Coinbase Global in a research report on Thursday, July 31st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $470.00 price target on shares of Coinbase Global in a report on Friday, August 1st. Citigroup boosted their target price on shares of Coinbase Global from $270.00 to $505.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Sanford C. Bernstein boosted their price target on shares of Coinbase Global from $310.00 to $510.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. Finally, Oppenheimer restated an "outperform" rating and set a $417.00 price target on shares of Coinbase Global in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $367.12.

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.

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