Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) Director Sells 15,228 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 15,228 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $280.51, for a total transaction of $4,271,606.28. Following the completion of the transaction, the director now owns 10,417 shares in the company, valued at $2,922,072.67. This represents a 59.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, January 24th, Frederick Ernest Ehrsam III sold 10,216 shares of Coinbase Global stock. The stock was sold at an average price of $310.14, for a total value of $3,168,390.24.
• 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 value 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 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 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 value of $8,211,622.86.

Coinbase Global Price Performance

NASDAQ:COIN traded down $4.77 during midday trading on Thursday, hitting $270.37. The company had a trading volume of 6,673,855 shares, compared to its average volume of 8,031,819. The stock’s fifty day moving average price is $286.47 and its 200-day moving average price is $236.59. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 52-week low of $114.51 and a 52-week high of $349.75. The company has a market capitalization of $67.69 billion, a PE ratio of 46.14 and a beta of 3.61.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Piper Sandler upped their price objective on Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group decreased their price target 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. Needham & Company LLC increased their price objective on Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. HC Wainwright reaffirmed a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a research note on Tuesday, October 29th. Finally, Oppenheimer cut their price objective on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $289.06.

Hedge Funds Weigh In On Coinbase Global

A number of institutional investors have recently bought and sold shares of COIN. Wingate Wealth Advisors Inc. purchased a new position in shares of Coinbase Global during the 4th quarter valued at $27,000. MassMutual Private Wealth & Trust FSB grew its stake in Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after acquiring an additional 106 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in Coinbase Global in the 3rd quarter worth about $25,000. ORG Wealth Partners LLC purchased a new stake in shares of Coinbase Global in the 3rd quarter worth approximately $32,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in Coinbase Global during the fourth quarter valued at approximately $50,000. 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.