Frederick Ernest Ehrsam III Sells 11,421 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 11,421 shares of the business's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $273.23, for a total value of $3,120,559.83. Following the transaction, the director now directly owns 10,417 shares in the company, valued at $2,846,236.91. This trade represents a 52.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• 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 transaction 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 transaction of $8,211,622.86.

Coinbase Global Stock Performance

Shares of COIN traded down $5.21 during mid-day trading on Thursday, hitting $274.41. 4,407,056 shares of the company's stock were exchanged, compared to its average volume of 11,176,353. The firm has a market capitalization of $68.70 billion, a P/E ratio of 46.83 and a beta of 3.57. Coinbase Global, Inc. has a fifty-two week low of $114.51 and a fifty-two week high of $349.75. The business's 50 day moving average is $275.07 and its two-hundred day moving average is $227.85. 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 announced its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate 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 analysts' expectations of $1.26 billion. During the same quarter last year, the business posted ($0.01) earnings per share. The company's revenue for the quarter was up 78.8% compared to the same quarter last year. On average, equities analysts expect that Coinbase Global, Inc. will post 4.44 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on COIN. 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 report on Thursday, October 31st. Monness Crespi & Hardt increased their price target on Coinbase Global from $245.00 to $390.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Keefe, Bruyette & Woods upped their target price on shares of Coinbase Global from $165.00 to $275.00 and gave the company a "market perform" rating in a research report on Friday, December 20th. Canaccord Genuity Group reiterated a "buy" rating and set a $280.00 price target on shares of Coinbase Global in a research report on Thursday, October 31st. Finally, Oppenheimer upped their price objective on shares of Coinbase Global from $265.00 to $358.00 and gave the stock an "outperform" rating in a report on Monday, November 25th. One equities research 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 data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $286.22.

Hedge Funds Weigh In On Coinbase Global

Large investors have recently bought and sold shares of the company. Empowered Funds LLC raised its stake in Coinbase Global by 0.8% in the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange's stock valued at $924,000 after purchasing an additional 43 shares during the last quarter. Creative Financial Designs Inc. ADV grew its holdings in shares of Coinbase Global by 9.4% during the third quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange's stock worth $106,000 after buying an additional 51 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Coinbase Global by 12.1% in the second quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange's stock valued at $118,000 after buying an additional 57 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Coinbase Global by 3.1% during the second quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange's stock valued at $446,000 after buying an additional 61 shares during the period. Finally, Brooklyn Investment Group boosted its position in Coinbase Global by 3.9% during the third quarter. Brooklyn Investment Group now owns 1,760 shares of the cryptocurrency exchange's stock worth $314,000 after acquiring an additional 66 shares during the last quarter. Hedge funds and other 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.