Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III Sells 10,216 Shares

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 10,216 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $310.14, for a total value of $3,168,390.24. Following the completion of the sale, the director now directly owns 10,417 shares in the company, valued at $3,230,728.38. This represents a 49.51 % decrease in their position. The transaction was disclosed in a 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 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 stock was 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 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 stock was sold at an average price of $308.14, for a total value of $8,211,622.86.

Coinbase Global Stock Performance

Shares of Coinbase Global stock traded up $9.04 on Wednesday, reaching $290.86. 5,496,558 shares of the stock were exchanged, compared to its average volume of 8,268,981. The firm has a market capitalization of $72.82 billion, a PE ratio of 49.63 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. The business has a fifty day moving average price of $288.73 and a two-hundred day moving average price of $234.81. 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 - Get Free Report) last released its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business's revenue for the quarter was up 78.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) EPS. As a group, research analysts anticipate that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of COIN. Wingate Wealth Advisors Inc. acquired a new stake in Coinbase Global in the fourth quarter valued at $27,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock valued at $34,000 after purchasing an additional 106 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in shares of Coinbase Global in the third quarter valued at about $25,000. ORG Wealth Partners LLC purchased a new stake in Coinbase Global during the third quarter worth about $32,000. Finally, Spirit of America Management Corp NY grew its position in Coinbase Global by 66.7% during the fourth quarter. Spirit of America Management Corp NY now owns 250 shares of the cryptocurrency exchange's stock worth $62,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 68.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on COIN. Oppenheimer cut their price objective on shares of Coinbase Global from $358.00 to $334.00 and set an "outperform" rating on the stock in a report on Friday, January 17th. B. Riley assumed 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. 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 report on Monday, December 9th. Barclays lifted their target price on Coinbase Global from $204.00 to $355.00 and gave the stock an "equal weight" rating in a research report on Monday, December 9th. Finally, Bank of America upped their target price on Coinbase Global from $196.00 to $214.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Coinbase Global currently has a consensus rating of "Moderate Buy" and a consensus price target 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.