Coinbase Global (NASDAQ:COIN) Insider Sells $346,684.80 in Stock

Key Points

• Coinbase insider Paul Grewal sold 1,960 shares on May 27 at an average price of $176.88, for a total of $346,684.80. After the sale, he still held 84,753 shares, and the transaction was made under a pre-arranged Rule 10b5-1 plan.
• Coinbase shares rose to $189.03 in Friday trading, with the company valued at about $49.8 billion. The stock remains well below its 52-week high of $444.64, and the company continues to show high volatility with a beta of 3.38.
• Recent business and regulatory developments are positive for Coinbase, including clearer CFTC-driven rules around perpetual futures and 24/7 trading. The company is also expanding access to regulated crypto derivatives for U.S. institutional clients, which could support future revenue growth.

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 1,960 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $176.88, for a total transaction of $346,684.80. Following the transaction, the insider directly owned 84,753 shares of the company's stock, valued at $14,991,110.64. This represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Coinbase Global Stock Performance

Shares of Coinbase Global stock traded up $6.78 on Friday, reaching $189.03. 10,229,628 shares of the company traded hands, compared to its average volume of 11,421,787. Coinbase Global, Inc. has a 52 week low of $139.36 and a 52 week high of $444.64. The company has a 50 day moving average of $188.86 and a 200 day moving average of $212.34. The firm has a market capitalization of $49.80 billion, a PE ratio of 71.06, a PEG ratio of 6.13 and a beta of 3.38. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.34.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($1.55). Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the company earned $0.24 earnings per share. The firm's revenue was down 30.5% on a year-over-year basis. Equities analysts forecast that Coinbase Global, Inc. will post 1.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on COIN. Citizens Jmp decreased their price objective on Coinbase Global from $400.00 to $355.00 and set a "market outperform" rating on the stock in a research note on Friday, April 10th. Compass Point cut their target price on Coinbase Global from $190.00 to $140.00 and set a "sell" rating for the company in a research note on Friday, February 20th. BTIG Research reduced their target price on Coinbase Global from $340.00 to $280.00 and set a "buy" rating for the company in a report on Friday, February 13th. Wedbush set a $224.00 price target on Coinbase Global in a research report on Friday, May 8th. Finally, Mizuho increased their price target on shares of Coinbase Global from $170.00 to $200.00 and gave the stock a "neutral" rating in a report on Tuesday, May 12th. Nineteen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Coinbase Global presently has an average rating of "Hold" and an average target price of $252.10.

Coinbase Global News Summary

Here are the key news stories impacting Coinbase Global this week:

• Positive Sentiment: The CFTC’s actions on perpetual futures and 24/7 trading create a clearer path for Coinbase to expand into a large, regulated derivatives market that could lift fee revenue and deepen customer engagement. Reuters article on Coinbase and Kalshi bringing regulated perpetual crypto futures to U.S. investors
• Positive Sentiment: Coinbase also said it is giving eligible U.S. institutional clients access to global crypto options and perpetual futures through its regulated futures commission merchant, expanding its derivatives offering and strengthening its institutional platform. Cointelegraph article on Coinbase bringing global crypto derivatives markets to U.S. institutional clients
• Positive Sentiment: Analysts and industry coverage are framing the regulatory shift as a bigger opening for Coinbase in a multi-trillion-dollar derivatives market that has largely been offshore until now. MarketWatch article on crypto perpetual contracts coming to the U.S.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Coinbase Global by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 26,400,836 shares of the cryptocurrency exchange's stock valued at $5,970,285,000 after acquiring an additional 184,043 shares during the last quarter. Geode Capital Management LLC increased its stake in Coinbase Global by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 6,098,062 shares of the cryptocurrency exchange's stock valued at $1,374,080,000 after acquiring an additional 189,080 shares during the last quarter. Paradigm Operations LP increased its stake in Coinbase Global by 3.3% in the fourth quarter. Paradigm Operations LP now owns 4,262,458 shares of the cryptocurrency exchange's stock valued at $963,912,000 after acquiring an additional 134,425 shares during the last quarter. Norges Bank bought a new position in Coinbase Global in the fourth quarter valued at $656,744,000. Finally, ARK Investment Management LLC increased its stake in Coinbase Global by 6.1% in the fourth quarter. ARK Investment Management LLC now owns 2,541,928 shares of the cryptocurrency exchange's stock valued at $574,832,000 after acquiring an additional 146,388 shares during the last quarter. Institutional investors own 68.84% of the company's stock.

Coinbase Global Company Profile

Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase's product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.

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