Coinbase Global, Inc. (NASDAQ:COIN) Director Sells $8,211,622.86 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 26,649 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $308.14, for a total value of $8,211,622.86. Following the transaction, the director now directly owns 10,417 shares in the company, valued at approximately $3,209,894.38. This represents a 71.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Coinbase Global Stock Down 4.8 %

COIN opened at $296.20 on Friday. The stock’s fifty day moving average is $225.65 and its 200-day moving average is $217.86. Coinbase Global, Inc. has a one year low of $114.51 and a one year high of $341.75. The company has a market capitalization of $74.15 billion, a PE ratio of 50.55 and a beta of 3.34. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.01) earnings per share. On average, equities analysts predict that Coinbase Global, Inc. will post 4.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research report on Thursday, October 31st. Oppenheimer raised their price target on shares of Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Piper Sandler reaffirmed a “neutral” rating and set a $245.00 price objective on shares of Coinbase Global in a research report on Friday, November 1st. HC Wainwright reissued a “buy” rating and issued a $295.00 target price on shares of Coinbase Global in a report on Tuesday, October 29th. Finally, Barclays upped their target price on Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $255.22.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Coinbase Global in the 3rd quarter valued at approximately $25,000. Crewe Advisors LLC lifted its holdings in shares of Coinbase Global by 547.4% in the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after purchasing an additional 104 shares in the last quarter. Lynx Investment Advisory acquired a new stake in shares of Coinbase Global in the second quarter worth $29,000. Versant Capital Management Inc grew its holdings in shares of Coinbase Global by 75.0% during the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 57 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in Coinbase Global during the third quarter valued at $32,000. 68.84% of the stock is owned by hedge funds and other 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.