Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III Sells 10,216 Shares

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 10,216 shares of the company’s stock in a transaction on 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 transaction, the director now owns 10,417 shares of the company’s stock, valued at $3,230,728.38. The trade was a 49.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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 shares were 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 shares were 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 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 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 value of $2,475,615.96.
• On Monday, November 25th, Frederick Ernest Ehrsam III sold 26,649 shares of Coinbase Global stock. The shares were sold at an average price of $308.14, for a total transaction of $8,211,622.86.

Coinbase Global Stock Performance

Coinbase Global stock traded up $3.83 during midday trading on Tuesday, hitting $281.82. The company’s stock had a trading volume of 4,486,410 shares, compared to its average volume of 8,455,416. The company has a 50-day moving average price of $289.59 and a two-hundred day moving average price of $234.36. Coinbase Global, Inc. has a 1-year low of $114.51 and a 1-year high of $349.75. The company has a market cap of $70.55 billion, a price-to-earnings ratio of 48.09 and a beta of 3.59. 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 released its earnings results 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). 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 for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the company posted ($0.01) earnings per share. The business’s revenue for the quarter was up 78.8% compared to the same quarter last year. As a group, sell-side analysts predict that Coinbase Global, Inc. will post 4.81 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Needham & Company LLC increased their target price on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research note on Thursday, October 31st. JMP Securities reissued a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research note on Wednesday, October 9th. The Goldman Sachs Group reduced their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Finally, HC Wainwright restated a “buy” rating and issued a $295.00 target price on shares of Coinbase Global in a research note on Tuesday, October 29th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $282.83.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. increased its stake in shares of Coinbase Global by 22.3% in the 2nd quarter. Sei Investments Co. now owns 12,128 shares of the cryptocurrency exchange’s stock valued at $2,694,000 after purchasing an additional 2,212 shares during the last quarter. AQR Capital Management LLC grew its position in Coinbase Global by 103.8% in the second quarter. AQR Capital Management LLC now owns 30,729 shares of the cryptocurrency exchange’s stock valued at $6,829,000 after acquiring an additional 15,652 shares during the last quarter. APG Asset Management N.V. grew its position in Coinbase Global by 261.0% in the second quarter. APG Asset Management N.V. now owns 22,407 shares of the cryptocurrency exchange’s stock valued at $4,646,000 after acquiring an additional 16,200 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Coinbase Global by 639.4% in the second quarter. Mackenzie Financial Corp now owns 9,205 shares of the cryptocurrency exchange’s stock worth $2,046,000 after acquiring an additional 7,960 shares during the last quarter. Finally, Creative Planning boosted its stake in shares of Coinbase Global by 20.0% in the 2nd quarter. Creative Planning now owns 50,210 shares of the cryptocurrency exchange’s stock valued at $11,158,000 after purchasing an additional 8,383 shares in the last quarter. 68.84% of the stock is 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.