Frederick Ernest Ehrsam III Sells 22,842 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 22,842 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $281.94, for a total transaction of $6,440,073.48. Following the completion of the transaction, the director now directly owns 10,417 shares of the company’s stock, valued at $2,936,968.98. This represents a 68.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• 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 stock was sold at an average price of $308.14, for a total value of $8,211,622.86.

Coinbase Global Trading Down 1.6 %

NASDAQ COIN opened at $260.01 on Thursday. Coinbase Global, Inc. has a twelve month low of $114.51 and a twelve month high of $349.75. The business’s fifty day moving average is $284.12 and its 200 day moving average is $229.01. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The company has a market cap of $65.09 billion, a price-to-earnings ratio of 44.37 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last released its quarterly 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). The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.01) earnings per share. As a group, sell-side analysts expect that Coinbase Global, Inc. will post 4.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. B. Riley began coverage on Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price for the company. Mizuho upped their price objective on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Keefe, Bruyette & Woods increased their price objective 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. The Goldman Sachs Group lifted their target price on shares of Coinbase Global from $183.00 to $397.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Finally, Needham & Company LLC raised 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Coinbase Global currently has an average rating of “Hold” and an average price target of $288.44.

Hedge Funds Weigh In On Coinbase Global

A number of hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. lifted its stake in shares of Coinbase Global by 15.6% in the 2nd quarter. Principal Financial Group Inc. now owns 16,805 shares of the cryptocurrency exchange’s stock valued at $3,735,000 after purchasing an additional 2,264 shares during the period. Victory Capital Management Inc. boosted its holdings in Coinbase Global by 23.7% during the 2nd quarter. Victory Capital Management Inc. now owns 60,761 shares of the cryptocurrency exchange’s stock worth $13,503,000 after acquiring an additional 11,627 shares during the last quarter. Candriam S.C.A. grew its position in Coinbase Global by 9.8% in the 2nd quarter. Candriam S.C.A. now owns 10,506 shares of the cryptocurrency exchange’s stock worth $2,335,000 after purchasing an additional 938 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Coinbase Global by 24.2% in the second quarter. Los Angeles Capital Management LLC now owns 1,376 shares of the cryptocurrency exchange’s stock valued at $306,000 after acquiring an additional 268 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new position in Coinbase Global in the 2nd quarter valued at $116,000. Institutional investors and hedge funds 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.