Paul Grewal Sells 10,000 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $348.64, for a total value of $3,486,400.00. Following the completion of the transaction, the insider owned 82,328 shares of the company's stock, valued at approximately $28,702,833.92. This represents a 10.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, June 18th, Paul Grewal sold 1,952 shares of Coinbase Global stock. The shares were sold at an average price of $280.02, for a total transaction of $546,599.04.
• 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 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 value of $1,981,200.00.

Coinbase Global Stock Performance

Shares of COIN traded up $1.13 during trading hours on Friday, hitting $355.58. The stock had a trading volume of 6,704,285 shares, compared to its average volume of 10,790,355. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $382.00. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.52 and a current ratio of 2.52. The firm has a 50-day moving average price of $265.23 and a 200 day moving average price of $242.97. The firm has a market capitalization of $90.27 billion, a price-to-earnings ratio of 66.59, a PEG ratio of 26.02 and a beta of 3.70.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. The company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.22 billion. During the same period in the previous year, the firm posted $2.53 EPS. Coinbase Global's revenue was up 24.2% compared to the same quarter last year. As a group, research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Institutional Trading of Coinbase Global

Several large investors have recently bought and sold shares of COIN. KCM Investment Advisors LLC purchased a new stake in Coinbase Global in the fourth quarter valued at $507,000. GAMMA Investing LLC boosted its stake in shares of Coinbase Global by 8.1% in 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 period. Kingswood Wealth Advisors LLC grew its stake in shares of Coinbase Global by 124.5% in the first quarter. Kingswood Wealth Advisors LLC now owns 2,622 shares of the cryptocurrency exchange's stock worth $453,000 after acquiring an additional 1,454 shares in 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 worth $610,000 after purchasing an additional 232 shares in the last quarter. Finally, Amalgamated Bank grew its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on COIN. The Goldman Sachs Group upped their price objective on shares of Coinbase Global from $189.00 to $209.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. Barclays lifted their target price 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. China Renaissance initiated coverage on shares of Coinbase Global in a research report on Tuesday, June 17th. They issued a "buy" rating and a $353.30 price objective on the stock. Sanford C. Bernstein increased their price objective on Coinbase Global from $310.00 to $510.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. Finally, JPMorgan Chase & Co. dropped their price target on Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $291.06.

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.