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

Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 10,000 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $348.64, for a total transaction of $3,486,400.00. Following the sale, the insider directly owned 82,328 shares of the company's stock, valued at approximately $28,702,833.92. This trade represents a 10.83% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 transaction 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 Price Performance

COIN stock traded up $0.55 during midday trading on Thursday, reaching $355.00. 6,640,627 shares of the company's stock traded hands, compared to its average volume of 10,757,484. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.40. The company has a market cap of $90.13 billion, a price-to-earnings ratio of 66.46, a PEG ratio of 24.53 and a beta of 3.70. The company has a 50-day simple moving average of $259.28 and a two-hundred day simple moving average of $242.64. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $382.00.

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

Analyst Ratings Changes

COIN has been the subject of a number of recent analyst reports. JMP Securities reissued a "market outperform" rating and issued a $400.00 price objective on shares of Coinbase Global in a report on Wednesday, June 25th. Needham & Company LLC decreased their target price on shares of Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Compass Point raised shares of Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 target price on the stock in a research report on Monday, May 12th. Oppenheimer restated an "outperform" rating and issued a $395.00 price objective (up from $293.00) on shares of Coinbase Global in a research note on Thursday, June 26th. Finally, Benchmark increased their price objective on Coinbase Global from $301.00 to $421.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $291.06.

Hedge Funds Weigh In On Coinbase Global

Institutional investors have recently modified their holdings of the stock. Mascagni Wealth Management Inc. acquired a new stake in shares of Coinbase Global during the 4th quarter worth approximately $25,000. Copia Wealth Management acquired a new position in shares of Coinbase Global during the 4th quarter worth about $26,000. Bessemer Group Inc. boosted its position in shares of Coinbase Global by 297.4% during the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock worth $26,000 after purchasing an additional 113 shares in the last quarter. Atala Financial Inc bought a new position in shares of Coinbase Global during the 4th quarter valued at about $27,000. Finally, McClarren Financial Advisors Inc. acquired a new position in Coinbase Global in the 1st quarter worth $30,000. 68.84% of the stock is owned by institutional investors.

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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