Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) Director Sells $7,531,746.30 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 25,194 shares of Coinbase Global stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $298.95, for a total value of $7,531,746.30. Following the completion of the sale, the director now directly owns 10,417 shares in the company, valued at $3,114,162.15. This represents a 70.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• 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 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 value 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 value 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 value of $8,211,622.86.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $298.00 on Friday. 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 firm has a 50-day moving average of $290.54 and a two-hundred day moving average of $233.72. The stock has a market cap of $74.60 billion, a P/E ratio of 50.85 and a beta of 3.59. Coinbase Global, Inc. has a 1-year low of $114.51 and a 1-year high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data 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 firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business’s quarterly revenue was up 78.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.01) earnings per share. On average, research analysts expect that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on COIN shares. Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. Oppenheimer lowered their price objective on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. 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 note on Monday, December 9th. Needham & Company LLC boosted their price objective on shares of Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, B. Riley started coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $282.83.

Hedge Funds Weigh In On Coinbase Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Financial Life Planners purchased a new position in Coinbase Global in the 4th quarter valued at about $69,000. Means Investment CO. Inc. acquired a new stake in shares of Coinbase Global in the 4th quarter valued at about $201,000. GPS Wealth Strategies Group LLC raised its stake in shares of Coinbase Global by 70.8% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 362 shares of the cryptocurrency exchange’s stock valued at $90,000 after purchasing an additional 150 shares in the last quarter. McAdam LLC acquired a new stake in shares of Coinbase Global in the 4th quarter valued at about $251,000. Finally, U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Coinbase Global in the 4th quarter valued at about $680,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

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.