Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) Director Sells 25,194 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 25,194 shares of Coinbase Global stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $298.95, for a total transaction of $7,531,746.30. Following the completion of the transaction, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $3,114,162.15. This trade represents a 70.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• 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 value of $1,579,073.58.
• On Monday, January 6th, Frederick Ernest Ehrsam III sold 22,842 shares of Coinbase Global stock. The shares were 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 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 transaction of $8,211,622.86.

Coinbase Global Stock Performance

Shares of NASDAQ COIN traded up $1.66 during mid-day trading on Wednesday, hitting $295.85. The company had a trading volume of 6,642,633 shares, compared to its average volume of 8,128,426. 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, Inc. has a 1 year low of $114.51 and a 1 year high of $349.75. The company has a market capitalization of $74.07 billion, a price-to-earnings ratio of 50.49 and a beta of 3.59. The stock’s 50-day moving average price is $290.14 and its 200-day moving average price is $232.30.

Coinbase Global (NASDAQ:COIN) last announced 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). 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 for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the company earned ($0.01) earnings per share. The company’s quarterly revenue was up 78.8% on a year-over-year basis. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 4.81 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on COIN shares. HC Wainwright reaffirmed a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a research report on Tuesday, October 29th. B. Riley began coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target for the company. Barclays raised their target price on shares of Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. Piper Sandler upped their price target on shares of Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Finally, JMP Securities reissued a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $282.83.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Banco Santander S.A. grew its stake in Coinbase Global by 12.7% in the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after buying an additional 16,737 shares in the last quarter. Global Retirement Partners LLC grew its position in Coinbase Global by 135.1% in the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after acquiring an additional 1,540 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new stake in Coinbase Global during the third quarter valued at about $29,756,000. Lindbrook Capital LLC lifted its stake in Coinbase Global by 30.2% during the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after purchasing an additional 6,963 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of Coinbase Global during the 2nd quarter valued at about $2,908,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

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.