Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III Sells 15,228 Shares

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 15,228 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $280.51, for a total transaction of $4,271,606.28. Following the transaction, the director now directly owns 10,417 shares of the company’s stock, valued at $2,922,072.67. This represents a 59.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Friday, January 24th, Frederick Ernest Ehrsam III sold 10,216 shares of Coinbase Global stock. The shares were sold at an average price of $310.14, for a total transaction of $3,168,390.24.
• 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 transaction of $7,531,746.30.
• On Friday, January 17th, Frederick Ernest Ehrsam III sold 5,262 shares of Coinbase Global stock. The shares were 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 shares were 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 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 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 NASDAQ COIN opened at $270.37 on Friday. The firm has a 50-day simple moving average of $285.66 and a 200-day simple moving average of $236.83. The stock has a market capitalization of $67.69 billion, a price-to-earnings ratio of 46.14 and a beta of 3.61. 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, Inc. has a 52 week low of $114.51 and a 52 week high of $349.75.

Institutional Investors Weigh In On Coinbase Global

A number of hedge funds have recently modified their holdings of COIN. Truist Financial Corp increased its position in Coinbase Global by 12.1% during the second quarter. Truist Financial Corp now owns 5,988 shares of the cryptocurrency exchange’s stock worth $1,331,000 after purchasing an additional 646 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in shares of Coinbase Global by 53.5% in the 3rd quarter. Park Avenue Securities LLC now owns 1,913 shares of the cryptocurrency exchange’s stock valued at $341,000 after buying an additional 667 shares in the last quarter. Miracle Mile Advisors LLC raised its position in Coinbase Global by 18.1% in the 3rd quarter. Miracle Mile Advisors LLC now owns 1,381 shares of the cryptocurrency exchange’s stock valued at $246,000 after purchasing an additional 212 shares during the last quarter. CWM LLC raised its position in Coinbase Global by 4.4% in the 3rd quarter. CWM LLC now owns 6,039 shares of the cryptocurrency exchange’s stock valued at $1,076,000 after purchasing an additional 253 shares during the last quarter. Finally, LifePro Asset Management purchased a new stake in Coinbase Global in the 3rd quarter valued at $2,493,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on COIN. Barclays boosted 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 report on Monday, December 9th. B. Riley initiated coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target for the company. The Goldman Sachs Group lowered their price target on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Needham & Company LLC boosted their price objective on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Monness Crespi & Hardt boosted their price objective on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Coinbase Global has an average rating of “Moderate Buy” and a consensus target price of $289.06.

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.