Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) Director Sells 25,194 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 25,194 shares of the company's 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 transaction, the director now directly owns 10,417 shares in the company, valued at approximately $3,114,162.15. The trade was a 70.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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 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 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 transaction of $8,211,622.86.

Coinbase Global Price Performance

NASDAQ COIN traded up $0.16 on Thursday, reaching $296.01. The company's stock had a trading volume of 11,479,257 shares, compared to its average volume of 8,370,531. Coinbase Global, Inc. has a twelve month low of $114.51 and a twelve month high of $349.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The firm's 50 day moving average is $290.36 and its two-hundred day moving average is $232.75. The stock has a market cap of $74.11 billion, a PE ratio of 50.51 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results 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). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the business posted ($0.01) earnings per share. The company's quarterly revenue was up 78.8% on a year-over-year basis. As a group, sell-side analysts predict that Coinbase Global, Inc. will post 4.81 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on COIN. JMP Securities reiterated a "market outperform" rating and set a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th. Piper Sandler raised their price target on Coinbase Global from $245.00 to $285.00 and gave the stock a "neutral" rating in a report on Tuesday, January 7th. Monness Crespi & Hardt upped 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. B. Riley assumed coverage on Coinbase Global in a research note on Wednesday, October 23rd. They issued a "neutral" rating and a $185.00 target price on the stock. Finally, Bank of America upped their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. One 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. Based on data from MarketBeat, Coinbase Global presently has an average rating of "Hold" and a consensus price target of $282.83.

Institutional Investors Weigh In On Coinbase Global

Hedge funds have recently modified their holdings of the stock. RPg Family Wealth Advisory LLC acquired a new stake in shares of Coinbase Global during the third quarter worth approximately $25,000. ORG Wealth Partners LLC acquired a new stake in Coinbase Global during the third quarter valued at $32,000. MassMutual Private Wealth & Trust FSB grew its stake in 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 in the last quarter. Brown Brothers Harriman & Co. increased its position in Coinbase Global by 408.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange's stock worth $45,000 after purchasing an additional 204 shares during the last quarter. Finally, Abich Financial Wealth Management LLC raised its stake in shares of Coinbase Global by 548.5% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange's stock worth $48,000 after purchasing an additional 181 shares in the last quarter. 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.