Frederick Ernest Ehrsam III Sells 15,228 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 15,228 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $280.51, for a total value of $4,271,606.28. Following the completion of the transaction, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $2,922,072.67. This trade represents a 59.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Frederick Ernest Ehrsam III also recently made the following trade(s):

• On Friday, January 24th, Frederick Ernest Ehrsam III sold 10,216 shares of Coinbase Global stock. The shares were sold at an average price of $310.14, for a total transaction of $3,168,390.24.
• On Tuesday, January 21st, Frederick Ernest Ehrsam III sold 25,194 shares of Coinbase Global stock. The stock was sold at an average price of $298.95, for a total transaction of $7,531,746.30.
• On Friday, January 17th, Frederick Ernest Ehrsam III sold 5,262 shares of Coinbase Global stock. The shares were sold at an average price of $300.09, for a total value of $1,579,073.58.
• On Monday, January 6th, Frederick Ernest Ehrsam III sold 22,842 shares of Coinbase Global stock. The stock was sold at an average price of $281.94, for a total value of $6,440,073.48.
• On Monday, December 23rd, Frederick Ernest Ehrsam III sold 11,421 shares of Coinbase Global stock. The stock was sold at an average price of $273.23, for a total transaction of $3,120,559.83.
• On Wednesday, December 4th, Frederick Ernest Ehrsam III sold 7,614 shares of Coinbase Global stock. The stock was sold at an average price of $325.14, for a total transaction of $2,475,615.96.
• On Monday, November 25th, Frederick Ernest Ehrsam III sold 26,649 shares of Coinbase Global stock. The shares were sold at an average price of $308.14, for a total value of $8,211,622.86.

Coinbase Global Price Performance

COIN stock opened at $274.49 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a market cap of $68.72 billion, a PE ratio of 46.84 and a beta of 3.61. Coinbase Global, Inc. has a 1 year low of $125.81 and a 1 year high of $349.75. The stock has a 50-day moving average price of $285.22 and a two-hundred day moving average price of $236.89.

Analyst Upgrades and Downgrades

A number of brokerages have commented on COIN. Bank of America increased their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Needham & Company LLC dropped their price objective on Coinbase Global from $420.00 to $330.00 and set a “buy” rating for the company in a report on Friday. Barclays lifted their price target on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. Piper Sandler lifted their target price on shares of Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a research note on Thursday, October 31st. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $284.06.

Hedge Funds Weigh In On Coinbase Global

A number of large investors have recently bought and sold shares of the company. Clear Street Derivatives LLC acquired a new position in Coinbase Global during the third quarter worth $409,919,000. Proficio Capital Partners LLC boosted its position in Coinbase Global by 30,664.4% during the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after purchasing an additional 417,036 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Coinbase Global by 10.1% in the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after buying an additional 314,388 shares in the last quarter. Azora Capital LP grew its position in shares of Coinbase Global by 214.1% in the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after acquiring an additional 220,078 shares during the period. Finally, Holocene Advisors LP bought a new position in Coinbase Global during the third quarter worth about $38,535,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

About Coinbase Global

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.