Coinbase Global, Inc. (NASDAQ:COIN) Director Sells $8,211,622.86 in 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 value of $8,211,622.86. Following the sale, the director now owns 10,417 shares of the company’s stock, 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 can be accessed through this hyperlink.

Coinbase Global Price Performance

COIN traded up $17.69 during trading on Wednesday, hitting $310.98. The company’s stock had a trading volume of 13,245,859 shares, compared to its average volume of 11,193,557. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm’s 50 day moving average price is $219.83 and its two-hundred day moving average price is $216.55. Coinbase Global, Inc. has a 12 month low of $114.51 and a 12 month high of $341.75. The stock has a market capitalization of $77.85 billion, a price-to-earnings ratio of 53.07 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the business earned ($0.01) earnings per share. The firm’s revenue for the quarter was up 78.8% on a year-over-year basis. Sell-side analysts forecast that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the company. Bank of America increased their price target on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Piper Sandler reissued a “neutral” rating and set a $245.00 target price on shares of Coinbase Global in a research report on Friday, November 1st. Oppenheimer raised their price target on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research report on Monday. Monness Crespi & Hardt assumed coverage on Coinbase Global in a research note on Monday, October 28th. They issued a “buy” rating and a $245.00 price objective on the stock. Finally, B. Riley assumed coverage on Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Coinbase Global has a consensus rating of “Hold” and a consensus target price of $255.22.

Institutional Investors Weigh In On Coinbase Global

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

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.