Coinbase Global, Inc. (NASDAQ:COIN) Director Sells $6,440,073.48 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 22,842 shares of Coinbase Global stock in a transaction on Monday, January 6th. The stock was sold at an average price of $281.94, for a total transaction of $6,440,073.48. Following the transaction, the director now directly owns 10,417 shares in the company, valued at approximately $2,936,968.98. This represents a 68.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 value of $3,120,559.83.
• On Wednesday, December 4th, Frederick Ernest Ehrsam III sold 7,614 shares of Coinbase Global stock. The shares were sold at an average price of $325.14, for a total value 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 Stock Performance

COIN stock traded down $4.32 during mid-day trading on Wednesday, hitting $260.01. 5,931,759 shares of the company were exchanged, compared to its average volume of 8,131,406. Coinbase Global, Inc. has a 1-year low of $114.51 and a 1-year high of $349.75. The business has a 50 day simple moving average of $283.16 and a 200-day simple moving average of $228.80. 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 capitalization of $65.09 billion, a PE ratio of 44.37 and a beta of 3.59.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Barclays upped their price target on shares of Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Mizuho increased their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Keefe, Bruyette & Woods lifted their price target on shares of Coinbase Global from $165.00 to $275.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. B. Riley initiated coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective for the company. Finally, Oppenheimer lifted their target price on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $288.44.

Institutional Investors Weigh In On Coinbase Global

A number of institutional investors have recently modified their holdings of the business. RPg Family Wealth Advisory LLC acquired a new stake in Coinbase Global in the 3rd quarter worth about $25,000. ORG Wealth Partners LLC bought a new position in shares of Coinbase Global during the third quarter worth approximately $32,000. Brown Brothers Harriman & Co. raised its position in shares of Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after buying an additional 204 shares in the last quarter. Abich Financial Wealth Management LLC boosted its stake in shares of Coinbase Global by 548.5% in the second quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock valued at $48,000 after buying an additional 181 shares during the period. Finally, V Square Quantitative Management LLC acquired a new stake in Coinbase Global during the third quarter worth approximately $55,000. Institutional investors own 68.84% of the company’s stock.

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.