Coinbase Global, Inc. (NASDAQ:COIN) Director Sells $3,168,390.24 in 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 transaction of $3,168,390.24. Following the sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,230,728.38. This trade represents a 49.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 value 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 value 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 value of $6,440,073.48.
• 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 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 shares were sold at an average price of $308.14, for a total value of $8,211,622.86.

Coinbase Global Stock Performance

Shares of COIN stock opened at $301.30 on Friday. The firm’s 50 day moving average is $288.26 and its 200 day moving average is $235.66. The stock has a market capitalization of $75.43 billion, a P/E ratio of 51.42 and a beta of 3.59. Coinbase Global, Inc. has a 12 month low of $114.51 and a 12 month 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 posted its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) 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 company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the company earned ($0.01) EPS. The company’s revenue was up 78.8% on a year-over-year basis. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 4.81 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on COIN. Keefe, Bruyette & Woods decreased their target price on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Barclays lifted their price objective on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. HC Wainwright reiterated a “buy” rating and issued a $295.00 target price on shares of Coinbase Global in a report on Tuesday, October 29th. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 9th. Finally, B. Riley started coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price on the stock. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Coinbase Global has an average rating of “Moderate Buy” and a consensus price target of $289.06.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. RPg Family Wealth Advisory LLC bought a new stake in shares of Coinbase Global during the third quarter valued at about $25,000. Wingate Wealth Advisors Inc. purchased a new stake in Coinbase Global in the 4th quarter worth approximately $27,000. ORG Wealth Partners LLC bought a new position in Coinbase Global in the 3rd quarter valued at $32,000. MassMutual Private Wealth & Trust FSB boosted its holdings 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 valued at $34,000 after purchasing an additional 106 shares during the period. Finally, Brown Brothers Harriman & Co. grew its position in shares of Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after purchasing an additional 204 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

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.