Frederick Ernest Ehrsam III Sells 22,842 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 22,842 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $281.94, for a total value of $6,440,073.48. Following the transaction, the director now owns 10,417 shares in the company, valued at approximately $2,936,968.98. This trade represents a 68.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• 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 stock was 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 stock was sold at an average price of $308.14, for a total value of $8,211,622.86.

Coinbase Global Trading Down 0.5 %

NASDAQ COIN opened at $258.78 on Friday. 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 twelve month low of $114.51 and a twelve month high of $349.75. The company has a market cap of $64.79 billion, a price-to-earnings ratio of 44.16 and a beta of 3.59. The business’s fifty day moving average is $287.26 and its 200 day moving average is $229.55.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the firm posted ($0.01) EPS. The company’s quarterly revenue was up 78.8% on a year-over-year basis. As a group, sell-side analysts expect that Coinbase Global, Inc. will post 4.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on COIN shares. B. Riley started coverage on Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective on the stock. Monness Crespi & Hardt raised their price objective on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. The Goldman Sachs Group lowered their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday. Needham & Company LLC raised their price objective on Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Keefe, Bruyette & Woods raised their price objective on Coinbase Global from $165.00 to $275.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Coinbase Global presently has a consensus rating of “Hold” and an average target price of $285.28.

Institutional Investors Weigh In On Coinbase Global

A number of institutional investors have recently made changes to their positions in COIN. Geode Capital Management LLC lifted its position in shares of Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after purchasing an additional 314,388 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Coinbase Global by 2.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after purchasing an additional 71,398 shares during the period. Clear Street Derivatives LLC acquired a new position in shares of Coinbase Global in the 3rd quarter worth approximately $409,919,000. Renaissance Technologies LLC lifted its position in shares of Coinbase Global by 185.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after purchasing an additional 691,288 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Coinbase Global by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock worth $163,752,000 after purchasing an additional 52,856 shares during the period. Institutional investors 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.