Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III Sells 22,842 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 22,842 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $281.94, for a total value of $6,440,073.48. Following the completion of the transaction, the director now directly owns 10,417 shares in the company, valued at approximately $2,936,968.98. This represents a 68.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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 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 stock was sold at an average price of $308.14, for a total transaction of $8,211,622.86.

Coinbase Global Trading Down 1.6 %

Shares of NASDAQ:COIN opened at $260.01 on Thursday. The firm has a market cap of $65.09 billion, a price-to-earnings ratio of 44.37 and a beta of 3.59. Coinbase Global, Inc. has a 12 month low of $114.51 and a 12 month high of $349.75. The company’s fifty day simple moving average is $284.12 and its 200 day simple moving average is $229.01. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last released 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 during 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 business’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.01) EPS. As a group, research analysts forecast that Coinbase Global, Inc. will post 4.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on COIN. JMP Securities restated a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 9th. Canaccord Genuity Group restated a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st. B. Riley began coverage on Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target on the stock. Oppenheimer boosted their price objective on Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Finally, Mizuho raised their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Coinbase Global has an average rating of “Hold” and an average target price of $288.44.

Institutional Investors Weigh In On Coinbase Global

Institutional investors have recently bought and sold shares of the company. First Hawaiian Bank acquired a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $327,000. Fulton Bank N.A. boosted its holdings in Coinbase Global by 1.6% during the fourth quarter. Fulton Bank N.A. now owns 5,512 shares of the cryptocurrency exchange’s stock worth $1,369,000 after purchasing an additional 87 shares during the last quarter. Silverleafe Capital Partners LLC bought a new position in Coinbase Global in the fourth quarter valued at $358,000. Nordea Investment Management AB increased its stake in Coinbase Global by 5.9% in the 4th quarter. Nordea Investment Management AB now owns 14,934 shares of the cryptocurrency exchange’s stock valued at $3,772,000 after buying an additional 836 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new position in shares of Coinbase Global during the 4th quarter worth about $1,207,000. Institutional investors own 68.84% of the company’s stock.

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.