Frederick Ernest Ehrsam III Sells 7,614 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 7,614 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $325.14, for a total value of $2,475,615.96. Following the transaction, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $3,386,983.38. This trade represents a 42.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• 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 value of $8,211,622.86.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN traded up $23.05 during midday trading on Friday, reaching $343.62. 16,369,153 shares of the company’s stock traded hands, compared to its average volume of 11,257,619. Coinbase Global, Inc. has a one year low of $114.51 and a one year high of $349.75. The stock has a 50 day moving average of $239.66 and a 200 day moving average of $221.54. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $86.03 billion, a price-to-earnings ratio of 59.23 and a beta of 3.57.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 29.76% and a return on equity of 14.81%. The company’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. As a group, equities research analysts anticipate that Coinbase Global, Inc. will post 4.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on COIN. The Goldman Sachs Group increased their target price on Coinbase Global from $183.00 to $397.00 and gave the stock a “neutral” rating in a research report on Monday. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a report on Thursday, October 31st. Piper Sandler reiterated a “neutral” rating and set a $245.00 price target on shares of Coinbase Global in a report on Friday, November 1st. JMP Securities reissued a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research note on Wednesday, October 9th. Finally, Oppenheimer boosted their target price on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $265.33.

Hedge Funds Weigh In On Coinbase Global

A number of hedge funds have recently modified their holdings of COIN. Geode Capital Management LLC lifted 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Coinbase Global by 2.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after buying an additional 71,398 shares in the last quarter. Clear Street Derivatives LLC bought a new position in shares of Coinbase Global during the third quarter worth $409,919,000. Cowen AND Company LLC grew its stake in Coinbase Global by 1.5% during the second quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock valued at $330,895,000 after acquiring an additional 22,071 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Coinbase Global by 185.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after acquiring an additional 691,288 shares during the last quarter. 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.