Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III Sells 26,649 Shares

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 26,649 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $308.14, for a total value of $8,211,622.86. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at $3,209,894.38. This trade represents a 71.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $310.98 on Friday. The firm has a fifty day moving average price of $222.79 and a two-hundred day moving average price of $217.21. Coinbase Global, Inc. has a fifty-two week low of $114.51 and a fifty-two week high of $341.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $77.85 billion, a PE ratio of 53.07 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last released 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). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the business posted ($0.01) EPS. The firm’s quarterly revenue was up 78.8% on a year-over-year basis. Analysts expect that Coinbase Global, Inc. will post 4.27 EPS for the current year.

Institutional Trading of Coinbase Global

Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its position 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 worth $609,789,000 after purchasing an additional 314,388 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Coinbase Global by 2.3% during 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 acquiring an additional 71,398 shares during the period. Clear Street Derivatives LLC bought a new position in shares of Coinbase Global during the 3rd quarter worth about $409,919,000. Cowen AND Company LLC boosted its position in shares of Coinbase Global by 1.5% during the 2nd quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock valued at $330,895,000 after acquiring an additional 22,071 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake 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 acquiring an additional 691,288 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Oppenheimer increased their price objective on Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a report on Monday. Bank of America raised their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Piper Sandler reiterated a “neutral” rating and issued a $245.00 price objective on shares of Coinbase Global in a report on Friday, November 1st. JMP Securities restated a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a report on Wednesday, October 9th. Finally, B. Riley assumed coverage on Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Hold” and an average target price of $255.22.

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.