Coinbase Global, Inc. Insider Sells $2,099,800 in Stock

On October 25th, Paul Grewal, an insider at Coinbase Global, Inc. (NASDAQ:COIN), sold 10,000 shares of the company’s stock. The shares were sold at an average price of $209.98, resulting in a total transaction value of $2,099,800.00. Following this sale, Grewal now holds 74,956 shares in Coinbase, which are valued at around $15,739,260.88. This sale represents a 0.00% decrease in his overall shareholding. The transaction details were reported in a filing with the U.S. Securities and Exchange Commission (SEC), which can be accessed for further information.

Additional Sales by Paul Grewal

In recent months, Paul Grewal has made several other stock transactions concerning Coinbase Global. On September 25th, he sold another 10,000 shares at an average price of $170.10, amounting to $1,701,000.00. Earlier, on August 26th, he sold 16,962 shares at an average price of $206.96, for a total of $3,510,455.52.

Current Stock Performance

On the trading day following Grewal's latest sale, Coinbase Global's stock price rose by $3.56 to $219.66, with a trading volume of 11,469,746 shares, outpacing its average volume of 10,393,186 shares. The company’s current financial ratios include a current ratio of 1.03 and a quick ratio of 1.03, with a debt-to-equity ratio of 0.51. Over the past year, Coinbase has experienced a stock price fluctuation, with a low of $71.88 and a high of $283.48. Presently, the company's market capitalization stands at $53.94 billion, with a price-to-earnings ratio of 44.28 and a beta of 3.35. The firm’s 50-day moving average is listed as $181.38, while the 200-day moving average is noted at $209.38.

Earnings Announcement

Coinbase Global's most recent earnings results were announced on August 1st, revealing earnings per share (EPS) of $0.14 for the quarter. This outcome fell short of analysts' expectations, which were set at $1.07, marking a difference of ($0.93). Despite this, the company reported a revenue of $1.45 billion, slightly exceeding the consensus estimate of $1.40 billion. The previous year's quarter had seen an EPS loss of ($0.42). Analysts are optimistic, forecasting a total EPS of 3.92 for the current year, reflecting a significant year-over-year growth in revenue of 104.8%.

Analyst Recommendations

Investment firms have recently provided insights on Coinbase’s prospects. Citigroup upgraded its rating from “neutral” to “buy,” along with a target price adjustment from $260 to $345, as reported on July 23rd. Canaccord Genuity Group maintained its “buy” rating with a target price set at $280.00. Conversely, Compass Point reduced its target price from $325 to $295 while still rating the stock as a “buy.” Analysts from B. Riley have classified it as “neutral” with a target of $185.00. Overall, the stock carries a consensus rating of “Hold” and an average target price of $242.94, with various analysts offering a mix of ratings including one sell, nine holds, and ten buy recommendations.

Institutional Ownership Overview

Recent activity among institutional investors shows an increased ownership in Coinbase Global. For instance, Vanguard Group Inc. raised its stake by 18.4% in the first quarter, now holding 16,906,269 shares valued at approximately $4.48 billion. Similarly, Renaissance Technologies increased its holdings significantly by 185.9% in the second quarter. Other institutional actions include the Canada Pension Plan Investment Board boosting its stake by 1,186.6% and American Century Companies increasing its holdings by 1,136.7%. At present, 68.84% of Coinbase stock is owned by institutional investors.

About Coinbase Global

Coinbase Global, Inc. specializes in providing financial infrastructure and technology for the crypto economy, playing a significant role both in the U.S. and internationally. The company endeavors to offer a primary financial account for consumers within the crypto realm and facilitates transactions in crypto assets for institutions through its marketplace.

Coinbase, Stocks, Insider