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

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 10,216 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $310.14, for a total value of $3,168,390.24. Following the completion of the sale, the director now directly owns 10,417 shares in the company, valued at $3,230,728.38. This represents a 49.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 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 transaction 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 transaction of $8,211,622.86.

Coinbase Global Stock Performance

Shares of COIN stock opened at $291.00 on Thursday. The stock’s fifty day simple moving average is $288.15 and its 200-day simple moving average is $235.21. The company has a market capitalization of $72.85 billion, a price-to-earnings ratio of 49.66 and a beta of 3.59. 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, Inc. has a 1-year low of $114.51 and a 1-year high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Coinbase Global’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) EPS. On average, sell-side analysts predict that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. SOA Wealth Advisors LLC. boosted its stake in shares of Coinbase Global by 17.7% during the 4th quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock valued at $66,000 after buying an additional 40 shares during the period. Empowered Funds LLC raised its holdings in shares of Coinbase Global by 0.8% during the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock worth $924,000 after acquiring an additional 43 shares in the last quarter. Yousif Capital Management LLC boosted its position in Coinbase Global by 1.7% during the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock valued at $635,000 after purchasing an additional 44 shares during the last quarter. Capital Advisors Wealth Management LLC grew its stake in Coinbase Global by 3.2% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock valued at $365,000 after purchasing an additional 45 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV increased its position in Coinbase Global by 9.4% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock worth $106,000 after purchasing an additional 51 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analysts Set New Price Targets

COIN has been the topic of several research analyst reports. HC Wainwright reissued a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a research note on Tuesday, October 29th. Mizuho raised Coinbase Global from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $250.00 to $290.00 in a report on Wednesday. Oppenheimer decreased their price target on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. Piper Sandler boosted 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. Finally, Needham & Company LLC lifted their target price on Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $289.06.

Coinbase Global Company Profile

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.