Coinbase Executive Paul Grewal Sells Off Company Shares

On December 26th, Paul Grewal, an insider at Coinbase Global, Inc. (NASDAQ:COIN), executed a sale of 10,000 shares of the company at an average price of $173.76 per share, totaling $1,737,600.00. Post-transaction, Grewal's direct ownership in Coinbase stands at 61,665 shares, a stake worth around $10,714,910.40. This move was made public through an official filing with the Securities & Exchange Commission, which can be accessed via a specific hyperlink.

Recent Sales by Paul Grewal

In recent weeks, Grewal has made multiple sales of Coinbase stock:

• On December 19th, he sold 10,000 shares at an average price of $157.59, totaling $1,575,900.00.
• On December 4th, he also offloaded 10,000 shares, but at a lower average price of $145.09, amounting to $1,450,900.00.
• A significant sale occurred on November 27th, with Grewal selling 29,607 shares at an average price of $117.53, for a total of $3,479,710.71.

The Performance of Coinbase Stock

As of the last trading session, Coinbase stock opened at $173.92. The company's shares have been floating above the 50-day moving average price of $120.62 and well over the 200-day moving average price of $93.64. With a market cap of $41.61 billion, Coinbase experiences volatility, represented by a beta of 3.05, and has had its ups and downs with a 52-week range of $31.55 to $187.39. Nevertheless, the stock's P/E ratio sits at -53.85, reflecting its challenging position in the market.

The latest quarterly earnings report from Coinbase showed a slight earnings per share (EPS) of ($0.01), which surprisingly beat the forecasted ($0.54). Although the company has been operating at a loss with a negative net margin of 26.42% and a negative return on equity of 10.90%, its revenue reached $674.15 million against consensus estimates of $656.61 million. Moving forward, analysts project that the company will post an EPS of -$0.46 for the current fiscal year.

Institutional Interest in Coinbase

Coinbase has seen its share of institutional investors adjusting their holdings. For instance:

• Ancora Advisors LLC increased their stake by 144% in the last quarter, now owning 737 shares.
• Tyler Stone Wealth Management initiated a new position with an investment worth approximately $31,000.
• Bessemer Group Inc. doubled its holdings, purchasing an additional 500 shares.
• ICA Group Wealth Management LLC and BI Asset Management Fondsmaeglerselskab A S also significantly increased their stake in the company during recent quarters.

Hedge funds and other institutional investors collectively own nearly 46% of Coinbase's shares.

Analysts' Views on Coinbase Stock

Several analysts have weighed in on COIN shares with a mix of recommendations. Citigroup and Bank of America have adjusted their price targets and given neutral to the slightly bearish outlook. In contrast, JMP Securities has expressed a more bullish stance, raising its price target significantly. However, with varying opinions among sell, hold, and buy ratings, the consensus remains neutral, with an average price target hovering around $84.76.

About Coinbase Global

Coinbase Global, Inc. is at the forefront of the financial infrastructure for the cryptoeconomy. The company offers various services catering to different participants in the crypto space, including a primary financial account for consumers, an institutional marketplace, and the technology for developers to create crypto-based applications.

Coinbase, Shares, Sale