Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) Director Sells 22,842 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 22,842 shares of the firm’s 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 completion of the sale, the director now owns 10,417 shares in the company, valued at approximately $2,936,968.98. The trade was a 68.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 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 stock was 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 Trading Down 1.6 %

NASDAQ:COIN traded down $4.32 during trading hours on Wednesday, hitting $260.01. 5,931,759 shares of the stock were exchanged, compared to its average volume of 8,131,406. The company has a market capitalization of $65.09 billion, a P/E ratio of 44.37 and a beta of 3.59. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The company’s 50 day moving average is $283.16 and its two-hundred day moving average is $228.80. Coinbase Global, Inc. has a twelve month low of $114.51 and a twelve month high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued 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). The firm 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 company’s revenue was up 78.8% compared to the same quarter last year. During the same period last year, the company earned ($0.01) EPS. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 4.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coinbase Global

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in 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 acquiring an additional 314,388 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Coinbase Global by 2.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after purchasing an additional 71,398 shares during the last quarter. Clear Street Derivatives LLC acquired a new stake in shares of Coinbase Global during the third quarter worth $409,919,000. Renaissance Technologies LLC increased its holdings in Coinbase Global by 185.9% in the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after purchasing an additional 691,288 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Coinbase Global by 6.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock valued at $163,752,000 after buying an additional 52,856 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on COIN. Barclays boosted 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. Bank of America increased their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Oppenheimer lifted their price objective on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Mizuho raised their target price on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC upped their price target on Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $288.44.

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.