Coinbase Global (NASDAQ:COIN) Insider Sells $4,798,441.20 in Stock

Key Points

• Paul Grewal, an insider at Coinbase Global, sold 15,439 shares valued at approximately $4.8 million, reducing his ownership by 15.79% to 82,328 shares.
• Coinbase Global's stock price reached $308.97 after a slight increase of 0.2%, but it has fluctuated significantly in the past year with a high of $444.64 and a low of $142.58.
• The company reported disappointing earnings with only $0.12 earnings per share, missing analyst expectations significantly, while revenue for the quarter was $1.5 billion, falling short of the anticipated $1.68 billion.

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 15,439 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $310.80, for a total value of $4,798,441.20. Following the completion of the transaction, the insider owned 82,328 shares of the company's stock, valued at approximately $25,587,542.40. The trade was a 15.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, July 2nd, Paul Grewal sold 10,000 shares of Coinbase Global stock. The shares were sold at an average price of $348.64, for a total value of $3,486,400.00.
• On Wednesday, June 18th, Paul Grewal sold 1,952 shares of Coinbase Global stock. The stock was sold at an average price of $280.02, for a total value of $546,599.04.

Coinbase Global Stock Up 0.2%

Shares of Coinbase Global stock traded up $0.49 on Wednesday, reaching $308.97. The company's stock had a trading volume of 5,711,883 shares, compared to its average volume of 12,145,043. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The company has a market capitalization of $79.39 billion, a price-to-earnings ratio of 29.88 and a beta of 3.70. The firm's fifty day simple moving average is $348.25 and its two-hundred day simple moving average is $262.84.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.79). Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The company had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter last year, the firm posted $0.14 earnings per share. Coinbase Global's revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on COIN shares. Oppenheimer reissued an "outperform" rating and issued a $417.00 price objective on shares of Coinbase Global in a research note on Thursday, July 31st. Jefferies Financial Group increased their price objective on Coinbase Global from $260.00 to $405.00 and gave the stock a "hold" rating in a research note on Tuesday, July 29th. Benchmark increased their price objective on Coinbase Global from $301.00 to $421.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. The Goldman Sachs Group increased their price objective on Coinbase Global from $239.00 to $268.00 and gave the stock a "neutral" rating in a research note on Monday, July 7th. Finally, Sanford C. Bernstein upped their target price on Coinbase Global from $310.00 to $510.00 and gave the stock an "outperform" rating in a report on Wednesday, June 25th. Thirteen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Coinbase Global presently has an average rating of "Hold" and an average price target of $352.72.

Institutional Trading of Coinbase Global

Several hedge funds and other institutional investors have recently made changes to their positions in COIN. Envestnet Asset Management Inc. increased its position in shares of Coinbase Global by 24.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange's stock valued at $8,861,000 after acquiring an additional 9,952 shares during the period. Amalgamated Bank increased its position in shares of Coinbase Global by 4.8% in the 1st quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange's stock valued at $2,368,000 after acquiring an additional 629 shares during the period. GAMMA Investing LLC increased its position in shares of Coinbase Global by 8.1% in the 1st quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange's stock valued at $193,000 after acquiring an additional 84 shares during the period. Kingswood Wealth Advisors LLC grew its position 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 worth $453,000 after purchasing an additional 1,454 shares during the period. Finally, Wealthcare Advisory Partners LLC grew its position in Coinbase Global by 87.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,355 shares of the cryptocurrency exchange's stock worth $578,000 after purchasing an additional 1,561 shares during the period. Hedge funds and other institutional investors own 68.84% of the company's stock.

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.

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