Coinbase Insider Sales Send Shares Plunging

Coinbase Global (NASDAQ: COIN) shares opened lower on Tuesday due to insider selling activity. Insider Paul Grewal sold 10,000 shares on January 25th at an average price of $121.02, while Director Frederick Ernest Ehrsam III sold 82,130 shares on February 7th at an average price of $119.73. In the past 90 days, insiders have sold 726,615 shares worth $112 million, representing 33.16% of the company's stock.

Coinbase Global Insider Transactions and Market Analysis

Coinbase Global, Inc. (NASDAQ: COIN), the esteemed cryptocurrency exchange, experienced a notable decline in stock price on Tuesday following a series of insider selling activities. Prior to market open, COIN shares fell significantly, opening at $238.10 against the previous close of $252.11. At the time of this report, COIN shares are trading marginally above the opening price at $237.80, with a traded volume of approximately 1.93 million.

Insider Selling Transactions

Paul Grewal, an insider at Coinbase Global, recently sold 10,000 shares of the company's stock on Thursday, January 25th. The transaction was valued at approximately $1,210,200.00, with the shares sold at an average price of $121.02. Following the sale, Grewal now holds 61,665 shares, valued at $7,462,698.30.

Director Frederick Ernest Ehrsam III also sold a significant number of Coinbase Global shares. On Wednesday, February 7th, he disposed of 82,130 shares, generating proceeds of $9,833,424.90. The shares were sold at an average price of $119.73, leaving Ehrsam with 4,662 shares, valued at approximately $558,181.26.

In addition to these transactions, Grewal conducted another sale of 10,000 shares on January 25th. The shares were sold at an average price of $121.02, resulting in a total transaction value of $1,210,200.00. After this sale, Grewal's holdings now stand at 61,665 shares, with an estimated value of $7,462,698.30.

Insider Ownership and Trading Activity

Over the past ninety days, Coinbase Global insiders have sold a combined 726,615 shares, totaling $112,038,692. These insiders currently hold a substantial portion of the company's stock, amounting to approximately 33.16%.

Analyst Ratings and Price Targets

Coinbase Global has garnered attention from several research firms, leading to a variety of analyst ratings and price targets.

• Canaccord Genuity Group maintains a "buy" rating and a price target of $240.00.
• JMP Securities continues to rate COIN as "market outperform."
• Goldman Sachs Group upgraded the stock from "sell" to "neutral."
• Raymond James upgraded Coinbase Global from "underperform" to "market perform."
• Oppenheimer raised its price objective to $200.00 and assigned an "outperform" rating.

MarketBeat consensus data indicates a "Hold" rating and a consensus price target of $141.30 for COIN shares.

Company Performance and Financial Metrics

Coinbase Global boasts a market capitalization of $59.56 billion, an elevated trailing price-to-earnings (PE) ratio of 910.52, and a beta of 3.41. The company's 50-day and 200-day moving averages are currently at $195.98 and $141.81, respectively.

Coinbase Global's financial ratios show a debt-to-equity ratio of 0.47, a quick ratio of 1.03, and a current ratio of 1.03.

Earnings and Revenue

The company's recent earnings announcement on February 15th revealed strong performance, with earnings per share (EPS) of $1.04, exceeding analysts' estimates by a significant margin. Revenue for the quarter reached $953.80 million, outpacing expectations of $826.10 million.

Coinbase Global's net margin stood at 3.05% during the quarter, while its return on equity was 3.54%. Revenue growth compared to the same quarter last year was a substantial 51.6%.

Hedge Fund Activity

Hedge funds and institutional investors have actively adjusted their stakes in Coinbase Global. Recent additions to the company's shareholder base include Barrett & Company Inc., Creekmur Asset Management LLC, Quarry LP, AlphaMark Advisors LLC, and Signature Resources Capital Management LLC. Collectively, hedge funds and other institutional investors hold approximately 68.84% of COIN shares.

Company Profile

Coinbase Global, Inc. is a leading provider of financial infrastructure and technology for cryptocurrency markets worldwide. The company's primary products include a consumer-facing financial account for cryptocurrencies and a liquidity-driven marketplace for institutional crypto-asset trading.