Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III Sells 26,649 Shares

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 26,649 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $308.14, for a total transaction of $8,211,622.86. Following the sale, the director now directly owns 10,417 shares in the company, valued at $3,209,894.38. This trade represents a 71.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Coinbase Global Trading Up 6.0 %

COIN traded up $17.69 during trading on Wednesday, reaching $310.98. 13,245,859 shares of the company’s stock were exchanged, compared to its average volume of 11,193,557. The firm has a fifty day moving average price of $219.83 and a two-hundred day moving average price of $216.55. The stock has a market capitalization of $77.85 billion, a PE ratio of 53.07 and a beta of 3.34. Coinbase Global, Inc. has a one year low of $114.51 and a one year high of $341.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Coinbase Global’s revenue was up 78.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.01) earnings per share. As a group, equities research analysts forecast that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on COIN shares. Piper Sandler reaffirmed a “neutral” rating and set a $245.00 price target on shares of Coinbase Global in a research report on Friday, November 1st. B. Riley initiated coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a report on Thursday, October 31st. Bank of America upped their price objective on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Oppenheimer raised their price objective on shares of Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and a consensus target price of $255.22.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of COIN. APEIRON CAPITAL Ltd bought a new stake in shares of Coinbase Global during the 1st quarter worth $108,434,000. Bayesian Capital Management LP bought a new position in shares of Coinbase Global during the 1st quarter valued at approximately $663,000. Janus Henderson Group PLC raised its holdings in shares of Coinbase Global by 66.4% in the 1st quarter. Janus Henderson Group PLC now owns 17,127 shares of the cryptocurrency exchange’s stock worth $4,539,000 after purchasing an additional 6,835 shares during the period. Hancock Whitney Corp bought a new position in Coinbase Global during the first quarter valued at $1,129,000. Finally, LBP AM SA purchased a new stake in Coinbase Global in the first quarter worth $417,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.