Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) Director Sells 5,262 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 5,262 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $300.09, for a total value of $1,579,073.58. Following the completion of the transaction, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,126,037.53. This represents a 33.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 value of $7,531,746.30.
• On Monday, January 6th, Frederick Ernest Ehrsam III sold 22,842 shares of Coinbase Global stock. The stock was sold at an average price of $281.94, for a total transaction of $6,440,073.48.
• On Monday, December 23rd, Frederick Ernest Ehrsam III sold 11,421 shares of Coinbase Global stock. The shares were sold at an average price of $273.23, for a total transaction 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 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 NASDAQ:COIN opened at $295.85 on Thursday. Coinbase Global, Inc. has a 1 year low of $114.51 and a 1 year high of $349.75. The stock has a market capitalization of $74.07 billion, a price-to-earnings ratio of 50.49 and a beta of 3.59. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The company’s 50 day simple moving average is $290.36 and its 200 day simple moving average is $232.75.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on COIN shares. Barclays upped their price objective on Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Needham & Company LLC raised their price target on Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods reduced their price objective on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a research report on Thursday, October 31st. Finally, Bank of America lifted their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. One investment 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, the stock has a consensus rating of “Hold” and an average price target of $282.83.

Institutional Investors Weigh In On Coinbase Global

Hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its stake in Coinbase Global by 14.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 44,847 shares of the cryptocurrency exchange’s stock valued at $9,966,000 after purchasing an additional 5,767 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Coinbase Global by 32.0% in the 2nd quarter. Amalgamated Bank now owns 12,935 shares of the cryptocurrency exchange’s stock valued at $2,875,000 after acquiring an additional 3,133 shares during the last quarter. AE Wealth Management LLC boosted its holdings in shares of Coinbase Global by 17.9% during the 2nd quarter. AE Wealth Management LLC now owns 941 shares of the cryptocurrency exchange’s stock valued at $209,000 after acquiring an additional 143 shares in the last quarter. Sei Investments Co. grew its position in Coinbase Global by 22.3% during the 2nd quarter. Sei Investments Co. now owns 12,128 shares of the cryptocurrency exchange’s stock worth $2,694,000 after acquiring an additional 2,212 shares during the last quarter. Finally, Frank Rimerman Advisors LLC increased its holdings in Coinbase Global by 342.6% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 1,412 shares of the cryptocurrency exchange’s stock worth $314,000 after purchasing an additional 1,093 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

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.