Coinbase Global, Inc. (NASDAQ:COIN) Director Sells $3,168,390.24 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 10,216 shares of Coinbase Global stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $310.14, for a total transaction of $3,168,390.24. Following the sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,230,728.38. The trade was a 49.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• 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 value 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 shares were 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 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 transaction of $8,211,622.86.

Coinbase Global Price Performance

COIN stock opened at $281.82 on Wednesday. The firm has a market cap of $70.55 billion, a P/E ratio of 48.09 and a beta of 3.59. 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, Inc. has a 1 year low of $114.51 and a 1 year high of $349.75. The stock has a 50-day simple moving average of $288.73 and a 200-day simple moving average of $234.81.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share 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 was up 78.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) earnings per share. On average, equities analysts predict that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds and other institutional investors have recently modified their holdings of COIN. Focused Wealth Management Inc acquired a new position in Coinbase Global in the fourth quarter worth about $227,000. Newbridge Financial Services Group Inc. grew its position in shares of Coinbase Global by 44.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 631 shares of the cryptocurrency exchange’s stock worth $157,000 after acquiring an additional 195 shares in the last quarter. Kestra Private Wealth Services LLC increased its holdings in shares of Coinbase Global by 35.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 18,552 shares of the cryptocurrency exchange’s stock valued at $4,606,000 after acquiring an additional 4,829 shares during the last quarter. Stephens Inc. AR acquired a new stake in shares of Coinbase Global during the 4th quarter valued at approximately $261,000. Finally, Rede Wealth LLC raised its position in shares of Coinbase Global by 2.0% during the 4th quarter. Rede Wealth LLC now owns 7,977 shares of the cryptocurrency exchange’s stock valued at $1,981,000 after acquiring an additional 158 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on COIN. Piper Sandler lifted their price target 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. Mizuho lifted their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. The Goldman Sachs Group reduced their price target on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Monness Crespi & Hardt upped their target price on Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Keefe, Bruyette & Woods reduced their target price on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $282.83.

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.