Coinbase Global, Inc. (NASDAQ:COIN) Director Sells $2,246,891.40 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 7,614 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the sale, the director now owns 10,417 shares in the company, valued at approximately $3,074,056.70. The trade was a 42.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, February 4th, Frederick Ernest Ehrsam III sold 15,228 shares of Coinbase Global stock. The shares were sold at an average price of $280.51, for a total transaction of $4,271,606.28.
• 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 transaction of $3,168,390.24.
• 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 transaction of $7,531,746.30.
• 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 transaction 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 transaction 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 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 transaction of $8,211,622.86.

Coinbase Global Price Performance

COIN traded down $9.68 during trading on Tuesday, hitting $264.63. 11,480,422 shares of the company traded hands, compared to its average volume of 8,681,301. The company has a market cap of $66.25 billion, a PE ratio of 45.16 and a beta of 3.61. The stock’s 50-day simple moving average is $280.25 and its two-hundred day simple moving average is $238.79. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75. 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 (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coinbase Global

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Coinbase Global by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock worth $4,573,462,000 after buying an additional 128,802 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Coinbase Global by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock worth $882,822,000 after purchasing an additional 127,075 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Coinbase Global by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after purchasing an additional 71,398 shares during the period. Clear Street Derivatives LLC purchased a new position in shares of Coinbase Global during the 3rd quarter worth about $409,919,000. Finally, Norges Bank purchased a new position in shares of Coinbase Global during the 4th quarter worth about $536,484,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

COIN has been the topic of several recent research reports. Bank of America increased their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Canaccord Genuity Group increased their price target on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday. The Goldman Sachs Group decreased their price target on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. HC Wainwright increased their price target on shares of Coinbase Global from $255.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research report on Tuesday. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Coinbase Global currently has a consensus rating of “Moderate Buy” and an average target price of $303.94.

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.