Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) Director Sells $6,440,073.48 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 22,842 shares of Coinbase Global stock in a transaction on Monday, January 6th. The shares were sold at an average price of $281.94, for a total value of $6,440,073.48. Following the completion of the transaction, the director now owns 10,417 shares of the company’s stock, valued at approximately $2,936,968.98. The trade was a 68.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, December 23rd, Frederick Ernest Ehrsam III sold 11,421 shares of Coinbase Global stock. The shares were 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 shares were 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 Stock Down 0.5 %

NASDAQ:COIN opened at $258.78 on Friday. Coinbase Global, Inc. has a 1 year low of $114.51 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. The stock has a market cap of $64.79 billion, a price-to-earnings ratio of 44.16 and a beta of 3.59. The stock has a 50-day moving average price of $287.26 and a two-hundred day moving average price of $229.55.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The firm had revenue of $1.21 billion during 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 business’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.01) earnings per share. As a group, equities analysts expect that Coinbase Global, Inc. will post 4.44 earnings per share for the current year.

Wall Street Analyst Weigh In

COIN has been the subject of several research analyst reports. Oppenheimer lifted their price objective on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Monness Crespi & Hardt lifted their target price on Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. 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. B. Riley initiated coverage on Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price for the company. Finally, Bank of America lifted their target price on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $285.28.

Institutional Trading of Coinbase Global

A number of institutional investors have recently modified their holdings of COIN. Geode Capital Management LLC raised its holdings in Coinbase Global by 10.1% during the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after acquiring an additional 314,388 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position 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 valued at $570,341,000 after buying an additional 71,398 shares during the last quarter. Clear Street Derivatives LLC acquired a new stake in shares of Coinbase Global in the third quarter valued at approximately $409,919,000. Renaissance Technologies LLC lifted its position in shares of Coinbase Global by 185.9% in the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after buying an additional 691,288 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Coinbase Global by 6.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock worth $163,752,000 after purchasing an additional 52,856 shares during the period. 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.