Key Points
- Paul Grewal sold 976 Coinbase shares on Nov. 26 at an average price of $260 (≈$253,760), leaving him with 74,835 shares (a 1.29% reduction); the transaction continues a string of sizable insider disposals earlier this year (notably on Nov. 25, Oct. 1 and Sept. 2).
- Coinbase beat Q3 estimates with EPS of $1.44 (vs. $1.04) and revenue of $1.87B (up 55.1% YoY), yet the stock was down about 4.8% and is trading near $260 against an average analyst target of $397.63 and a market cap of roughly $70.06B.
Coinbase Global, Inc. (NASDAQ:COIN) insider Paul Grewal sold 976 shares of the stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $260.00, for a total value of $253,760.00. Following the completion of the sale, the insider owned 74,835 shares of the company's stock, valued at approximately $19,457,100. This trade represents a 1.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Paul Grewal also recently made the following trade(s):
- On Tuesday, November 25th, Paul Grewal sold 11,955 shares of Coinbase Global stock. The shares were sold at an average price of $246.18, for a total value of $2,943,081.90.
- On Wednesday, October 1st, Paul Grewal sold 10,000 shares of Coinbase Global stock. The stock was sold at an average price of $345.88, for a total transaction of $3,458,800.00.
- On Tuesday, September 2nd, Paul Grewal sold 10,000 shares of Coinbase Global stock. The stock was sold at an average price of $304.52, for a total transaction of $3,045,200.00.
Coinbase Global Stock Down 4.8%
Shares of NASDAQ:COIN opened at $259.84 on Tuesday. The firm has a market capitalization of $70.06 billion, a P/E ratio of 22.48 and a beta of 3.67. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40. The stock has a 50 day moving average price of $318.67 and a 200-day moving average price of $318.52. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $444.64.
Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.40. The company had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.77 billion. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The firm's revenue for the quarter was up 55.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 earnings per share. As a group, equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on COIN. Mizuho increased their price target on shares of Coinbase Global from $300.00 to $320.00 and gave the stock a "neutral" rating in a research note on Friday, October 31st. JPMorgan Chase & Co. cut their price objective on shares of Coinbase Global from $404.00 to $399.00 and set an "overweight" rating on the stock in a report on Friday, October 31st. UBS Group set a $404.00 target price on shares of Coinbase Global in a report on Friday, October 24th. Weiss Ratings restated a "hold (c)" rating on shares of Coinbase Global in a research note on Tuesday, October 14th. Finally, President Capital lifted their price objective on Coinbase Global from $401.00 to $472.00 and gave the company a "buy" rating in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $397.63.
Check Out Our Latest Stock Analysis on Coinbase Global
Hedge Funds Weigh In On Coinbase Global
Several hedge funds and other institutional investors have recently added to or reduced their stakes in COIN. REAP Financial Group LLC bought a new stake in shares of Coinbase Global in the 3rd quarter worth $25,000. Evelyn Partners Investment Management Europe Ltd boosted its position in shares of Coinbase Global by 92.3% during the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange's stock valued at $29,000 after buying an additional 36 shares during the last quarter. Palisade Asset Management LLC bought a new stake in Coinbase Global in the 3rd quarter worth about $29,000. McClarren Financial Advisors Inc. bought a new stake in Coinbase Global in the 1st quarter worth about $30,000. Finally, Cullen Frost Bankers Inc. purchased a new position in Coinbase Global in the 2nd quarter worth about $30,000. 68.84% of the stock is owned by institutional investors.
About Coinbase Global
(
Get Free Report)
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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