Frederick Ernest Ehrsam III Sells 5,262 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 5,262 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $300.09, for a total transaction of $1,579,073.58. Following the completion of the sale, the director now directly owns 10,417 shares of the company’s stock, valued at $3,126,037.53. This represents a 33.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 shares were sold at an average price of $298.95, for a total value of $7,531,746.30.
• 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 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 Stock Up 0.6 %

Shares of COIN stock traded up $1.66 on Wednesday, hitting $295.85. The stock had a trading volume of 6,642,633 shares, compared to its average volume of 8,128,426. 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 business has a 50 day moving average of $290.14 and a 200 day moving average of $232.30. Coinbase Global, Inc. has a 12-month low of $114.51 and a 12-month high of $349.75. The stock has a market cap of $74.07 billion, a price-to-earnings ratio of 50.49 and a beta of 3.59.

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 analysts’ consensus estimates of $0.41 by ($0.13). The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Coinbase Global’s quarterly revenue was up 78.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.01) EPS. As a group, analysts expect that Coinbase Global, Inc. will post 4.81 EPS for the current year.

Institutional Investors Weigh In On Coinbase Global

Several large investors have recently made changes to their positions in COIN. RPg Family Wealth Advisory LLC purchased a new stake in Coinbase Global during the third quarter worth about $25,000. ORG Wealth Partners LLC bought a new position in shares of Coinbase Global during the 3rd quarter valued at approximately $32,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 106 shares during the last quarter. Brown Brothers Harriman & Co. raised its holdings in shares of Coinbase Global by 408.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after purchasing an additional 204 shares during the period. Finally, Abich Financial Wealth Management LLC lifted its stake in Coinbase Global by 548.5% in the second quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock valued at $48,000 after purchasing an additional 181 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on COIN shares. Piper Sandler upped their target price on Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. B. Riley assumed coverage on Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective for the company. Mizuho lifted their target price on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Keefe, Bruyette & Woods dropped their target price on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a report on Monday, January 13th. Finally, Bank of America lifted 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. One investment 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’s stock. Based on data from MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and a consensus price target of $282.83.

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.