Frederick Ernest Ehrsam III Sells 26,649 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 26,649 shares of Coinbase Global stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $308.14, for a total transaction of $8,211,622.86. Following the completion of the sale, the director now owns 10,417 shares in the company, valued at approximately $3,209,894.38. This represents a 71.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Coinbase Global Trading Up 6.0 %

Shares of COIN opened at $310.98 on Friday. The business’s 50-day moving average price is $222.79 and its 200 day moving average price is $217.21. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $77.85 billion, a P/E ratio of 53.07 and a beta of 3.34. Coinbase Global, Inc. has a 1-year low of $114.51 and a 1-year high of $341.75.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share 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 firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the business earned ($0.01) earnings per share. The business’s revenue was up 78.8% on a year-over-year basis. Analysts expect that Coinbase Global, Inc. will post 4.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on COIN. Barclays raised their price target on shares of Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Mizuho lifted their target price on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research report on Thursday, October 31st. Piper Sandler reissued a “neutral” rating and set a $245.00 price target on shares of Coinbase Global in a report on Friday, November 1st. Finally, B. Riley started coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Coinbase Global presently has an average rating of “Hold” and an average target price of $255.22.

Institutional Trading of Coinbase Global

Hedge funds have recently modified their holdings of the business. Empowered Funds LLC raised its position in Coinbase Global by 0.8% during the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after buying an additional 43 shares during the period. Creative Financial Designs Inc. ADV boosted its position in Coinbase Global by 9.4% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock worth $106,000 after acquiring an additional 51 shares during the period. Fifth Third Bancorp grew its stake in Coinbase Global by 0.4% during the 2nd quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock valued at $2,777,000 after acquiring an additional 55 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Coinbase Global by 75.0% in the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 57 shares during the period. Finally, Larson Financial Group LLC lifted its position in shares of Coinbase Global by 12.1% in the second quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock worth $118,000 after purchasing an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

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.