Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) Director Sells 10,216 Shares of Stock

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 of the company’s stock, valued at approximately $3,230,728.38. The trade was a 49.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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 stock was 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 stock was 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 transaction 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 Up 1.4 %

NASDAQ COIN traded up $3.83 during trading hours on Tuesday, reaching $281.82. 4,486,410 shares of the company’s stock traded hands, compared to its average volume of 8,455,416. The firm has a 50-day simple moving average of $289.59 and a 200 day simple moving average of $234.36. The firm has a market cap of $70.55 billion, a PE ratio of 48.09 and a beta of 3.59. Coinbase Global, Inc. has a 52-week low of $114.51 and a 52-week high of $349.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last posted its 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 return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the firm posted ($0.01) EPS. The company’s revenue for the quarter was up 78.8% on a year-over-year basis. Sell-side analysts anticipate that Coinbase Global, Inc. will post 4.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Oppenheimer decreased their price objective on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a research report on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research note on Wednesday, October 9th. Bank of America raised their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Mizuho increased their price objective on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $282.83.

Hedge Funds Weigh In On Coinbase Global

Several institutional investors have recently bought and sold shares of the business. Focused Wealth Management Inc bought a new position in Coinbase Global during the 4th quarter worth about $227,000. Newbridge Financial Services Group Inc. lifted its position in shares of Coinbase Global by 44.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 631 shares of the cryptocurrency exchange’s stock worth $157,000 after purchasing an additional 195 shares during the period. Kestra Private Wealth Services LLC boosted its stake in shares of Coinbase Global by 35.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 18,552 shares of the cryptocurrency exchange’s stock valued at $4,606,000 after purchasing an additional 4,829 shares in the last quarter. Stephens Inc. AR purchased a new position in Coinbase Global during the fourth quarter valued at approximately $261,000. Finally, Rede Wealth LLC raised its stake in Coinbase Global by 2.0% in the fourth quarter. Rede Wealth LLC now owns 7,977 shares of the cryptocurrency exchange’s stock worth $1,981,000 after buying an additional 158 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

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.