Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III Sells 5,262 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 5,262 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $300.09, for a total transaction of $1,579,073.58. Following the sale, the director now directly owns 10,417 shares in the company, valued at $3,126,037.53. This represents a 33.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 value of $7,531,746.30.
• 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 value of $3,120,559.83.
• On Wednesday, December 4th, Frederick Ernest Ehrsam III sold 7,614 shares of Coinbase Global stock. The stock was 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 Price Performance

NASDAQ COIN opened at $295.85 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a 52-week low of $114.51 and a 52-week high of $349.75. The business has a 50 day simple moving average of $290.36 and a 200 day simple moving average of $232.75. The stock has a market cap of $74.07 billion, a price-to-earnings ratio of 50.49 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data 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 company 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 firm’s revenue was up 78.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.01) EPS. Analysts anticipate that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on COIN shares. Keefe, Bruyette & Woods cut their target price on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a research report on Monday, January 13th. Oppenheimer cut their price objective on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. The Goldman Sachs Group lowered their target price on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a research note on Thursday, October 31st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $282.83.

Institutional Trading of Coinbase Global

A number of institutional investors have recently modified their holdings of COIN. Clear Street Derivatives LLC acquired a new stake in Coinbase Global in the 3rd quarter valued at approximately $409,919,000. Geode Capital Management LLC grew its stake in shares of Coinbase Global by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after acquiring an additional 314,388 shares in the last quarter. Azora Capital LP raised its holdings 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 purchasing an additional 220,078 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of Coinbase Global in the third quarter worth $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new position in Coinbase Global during the third quarter worth $29,756,000. 68.84% of the stock is currently owned by 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.