Frederick Ernest Ehrsam III Sells 16,380 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 16,380 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $213.99, for a total transaction of $3,505,156.20. Following the transaction, the director now directly owns 4,662 shares of the company’s stock, valued at approximately $997,621.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, April 8th, Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock. The shares were sold at an average price of $256.19, for a total transaction of $4,196,392.20.
• On Tuesday, April 2nd, Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock. The shares were sold at an average price of $243.30, for a total transaction of $3,985,254.00.
• On Tuesday, March 26th, Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock. The shares were sold at an average price of $274.97, for a total transaction of $4,504,008.60.
• On Friday, March 15th, Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock. The stock was sold at an average price of $238.51, for a total transaction of $3,906,793.80.
• On Tuesday, March 5th, Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock. The stock was sold at an average price of $226.32, for a total transaction of $3,707,121.60.
• On Monday, February 26th, Frederick Ernest Ehrsam III sold 8,735 shares of Coinbase Global stock. The stock was sold at an average price of $186.00, for a total transaction of $1,624,710.00.
• On Wednesday, February 7th, Frederick Ernest Ehrsam III sold 82,130 shares of Coinbase Global stock. The stock was sold at an average price of $119.73, for a total transaction of $9,833,424.90.
• On Wednesday, January 31st, Frederick Ernest Ehrsam III sold 97,836 shares of Coinbase Global stock. The stock was sold at an average price of $131.57, for a total transaction of $12,872,282.52.
• On Thursday, January 25th, Frederick Ernest Ehrsam III sold 81,530 shares of Coinbase Global stock. The shares were sold at an average price of $121.29, for a total transaction of $9,888,773.70.

Coinbase Global Trading Down 3.2 %

Shares of NASDAQ:COIN opened at $211.01 on Friday. Coinbase Global, Inc. has a 12 month low of $46.43 and a 12 month high of $283.48. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The company’s fifty day simple moving average is $224.69 and its 200 day simple moving average is $155.57. The firm has a market cap of $51.12 billion, a price-to-earnings ratio of 781.52 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The business had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. During the same period last year, the business posted ($2.46) earnings per share. The firm’s quarterly revenue was up 51.6% on a year-over-year basis. As a group, research analysts forecast that Coinbase Global, Inc. will post 2.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Maryland State Retirement & Pension System increased its stake in Coinbase Global by 2.0% in the 1st quarter. Maryland State Retirement & Pension System now owns 13,440 shares of the cryptocurrency exchange’s stock valued at $3,563,000 after buying an additional 259 shares during the last quarter. First Trust Direct Indexing L.P. increased its stake in Coinbase Global by 26.1% in the 1st quarter. First Trust Direct Indexing L.P. now owns 3,817 shares of the cryptocurrency exchange’s stock valued at $1,012,000 after buying an additional 790 shares during the last quarter. Norden Group LLC acquired a new stake in Coinbase Global in the 1st quarter valued at $314,000. United Capital Management of KS Inc. increased its stake in Coinbase Global by 16.8% in the 1st quarter. United Capital Management of KS Inc. now owns 10,460 shares of the cryptocurrency exchange’s stock valued at $2,773,000 after buying an additional 1,501 shares during the last quarter. Finally, JTC Employer Solutions Trustee Ltd increased its stake in Coinbase Global by 10.6% in the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 3,573 shares of the cryptocurrency exchange’s stock valued at $918,000 after buying an additional 342 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Needham & Company LLC increased their price target on shares of Coinbase Global from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, January 8th. Bank of America increased their price target on shares of Coinbase Global from $92.00 to $110.00 and gave the company an “underperform” rating in a research note on Wednesday, April 10th. HC Wainwright increased their price target on shares of Coinbase Global from $115.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Piper Sandler increased their price target on shares of Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, Barclays raised their price objective on shares of Coinbase Global from $146.00 to $179.00 and gave the company an “underweight” rating in a research note on Monday, April 8th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $165.43.

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.