Coinbase Global, Inc. (NASDAQ:COIN) Director Sells $3,120,559.83 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 11,421 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the completion of the transaction, the director now owns 10,417 shares of the company’s stock, valued at $2,846,236.91. This trade represents a 52.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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 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 Down 3.2 %

COIN stock opened at $265.71 on Friday. Coinbase Global, Inc. has a 1-year low of $114.51 and a 1-year high of $349.75. The business’s 50 day simple moving average is $275.98 and its 200 day simple 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. The firm has a market capitalization of $66.52 billion, a PE ratio of 45.34 and a beta of 3.57.

Coinbase Global (NASDAQ:COINGet Free Report) last released its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Coinbase Global’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. As a group, research analysts anticipate that Coinbase Global, Inc. will post 4.44 EPS for the current year.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds have recently bought and sold shares of the stock. Clear Street Derivatives LLC acquired a new position in shares of Coinbase Global in the third quarter valued at approximately $409,919,000. Renaissance Technologies LLC increased its position in Coinbase Global by 185.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after buying an additional 691,288 shares during the period. American Century Companies Inc. lifted its holdings in shares of Coinbase Global by 1,136.7% during the second quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after buying an additional 435,886 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Coinbase Global by 10.1% in the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after acquiring an additional 314,388 shares during the period. Finally, Azora Capital LP grew its stake in shares of Coinbase Global by 214.1% in the third quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after acquiring an additional 220,078 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on COIN shares. The Goldman Sachs Group boosted their price target on Coinbase Global from $183.00 to $397.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. B. Riley initiated 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. Mizuho raised their price target on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Needham & Company LLC boosted their price objective on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Coinbase Global from $165.00 to $275.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $286.22.

Get Our Latest Stock Report on COIN

Coinbase Global Company Profile

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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.

Further Reading

Insider Buying and Selling by Quarter for Coinbase Global (NASDAQ:COIN)

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