Coinbase Global (NASDAQ:COIN) Director Sells $770,742.50 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 2,750 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $280.27, for a total transaction of $770,742.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, December 4th, Frederick Ernest Ehrsam III sold 4,125 shares of Coinbase Global stock. The shares were sold at an average price of $274.06, for a total transaction of $1,130,497.50.
• On Thursday, November 20th, Frederick Ernest Ehrsam III sold 2,750 shares of Coinbase Global stock. The stock was sold at an average price of $260.33, for a total transaction of $715,907.50.
• On Monday, November 10th, Frederick Ernest Ehrsam III sold 55,688 shares of Coinbase Global stock. The shares were sold at an average price of $321.81, for a total transaction of $17,920,955.28.
• On Friday, November 7th, Frederick Ernest Ehrsam III sold 19,927 shares of Coinbase Global stock. The shares were sold at an average price of $288.77, for a total transaction of $5,754,319.79.
• On Thursday, November 6th, Frederick Ernest Ehrsam III sold 277,074 shares of Coinbase Global stock. The stock was sold at an average price of $309.92, for a total value of $85,870,774.08.

Coinbase Global Price Performance

COIN opened at $267.46 on Friday. The stock has a fifty day moving average price of $306.99 and a 200 day moving average price of $318.25. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. The stock has a market cap of $72.12 billion, a price-to-earnings ratio of 23.14 and a beta of 3.69.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.77 billion. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The business’s quarterly revenue was up 55.1% on a year-over-year basis. During the same period last year, the business earned $0.28 EPS. Analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on COIN. HC Wainwright raised shares of Coinbase Global from a “sell” rating to a “buy” rating and boosted their target price for the stock from $300.00 to $425.00 in a research report on Thursday, October 30th. China Renaissance upped their price objective on shares of Coinbase Global from $444.60 to $479.30 in a report on Monday, November 3rd. BTIG Research raised their target price on Coinbase Global from $410.00 to $420.00 and gave the company a “buy” rating in a report on Friday, October 31st. Argus reaffirmed a “hold” rating on shares of Coinbase Global in a research report on Tuesday, November 25th. Finally, Redburn Partners set a $417.00 price objective on Coinbase Global in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Coinbase Global presently has an average rating of “Moderate Buy” and an average target price of $394.67.

Hedge Funds Weigh In On Coinbase Global

A number of institutional investors have recently made changes to their positions in COIN. REAP Financial Group LLC bought a new position in Coinbase Global in the 3rd quarter worth approximately $25,000. Evelyn Partners Investment Management Europe Ltd boosted its position in shares of Coinbase Global by 92.3% in the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock valued at $29,000 after acquiring an additional 36 shares during the period. Palisade Asset Management LLC acquired a new stake in shares of Coinbase Global in the third quarter worth $29,000. Cullen Frost Bankers Inc. bought a new position in Coinbase Global during the second quarter worth $30,000. Finally, Salomon & Ludwin LLC raised its stake in Coinbase Global by 4,400.0% during the 3rd quarter. Salomon & Ludwin LLC now owns 90 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 88 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

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.