Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III Sells 25,194 Shares

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 25,194 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $298.95, for a total transaction of $7,531,746.30. Following the completion of the sale, the director now directly owns 10,417 shares of the company’s stock, valued at $3,114,162.15. This represents a 70.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, January 17th, Frederick Ernest Ehrsam III sold 5,262 shares of Coinbase Global stock. The stock was sold at an average price of $300.09, for a total transaction 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 transaction 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 shares were 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 transaction of $8,211,622.86.

Coinbase Global Price Performance

Shares of COIN opened at $296.01 on Friday. The stock has a market cap of $74.11 billion, a PE ratio of 50.51 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 fifty-two week low of $114.51 and a fifty-two week high of $349.75. The firm’s 50-day simple moving average is $290.70 and its two-hundred day simple moving average is $233.19.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the company earned ($0.01) EPS. The company’s quarterly revenue was up 78.8% compared to the same quarter last year. Analysts anticipate that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Oppenheimer lowered their price objective on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. Piper Sandler upped their price objective on shares of Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Barclays upped their price objective on shares of Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. HC Wainwright reiterated a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a research report on Tuesday, October 29th. Finally, B. Riley started coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $282.83.

Institutional Investors Weigh In On Coinbase Global

Institutional investors have recently made changes to their positions in the company. Banco Santander S.A. grew its holdings in shares of Coinbase Global by 12.7% during the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock valued at $26,531,000 after buying an additional 16,737 shares during the last quarter. Global Retirement Partners LLC lifted its position in Coinbase Global by 135.1% during the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock valued at $477,000 after purchasing an additional 1,540 shares during the period. CloudAlpha Capital Management Limited Hong Kong bought a new position in Coinbase Global during the third quarter valued at approximately $29,756,000. Lindbrook Capital LLC lifted its position in Coinbase Global by 30.2% during the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock valued at $5,347,000 after purchasing an additional 6,963 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in Coinbase Global during the second quarter valued at approximately $2,908,000. Hedge funds and other 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.