Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) Director Sells 16,380 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 16,380 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $274.97, for a total transaction of $4,504,008.60. Following the completion of the transaction, the director now directly owns 4,662 shares in the company, valued at approximately $1,281,910.14. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Friday, March 15th, Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock. The stock was sold at an average price of $238.51, for a total value of $3,906,793.80.
• On Tuesday, March 5th, Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock. The stock was sold at an average price of $226.32, for a total value of $3,707,121.60.
• On Monday, February 26th, Frederick Ernest Ehrsam III sold 8,735 shares of Coinbase Global stock. The stock was sold at an average price of $186.00, for a total transaction of $1,624,710.00.
• On Wednesday, February 7th, Frederick Ernest Ehrsam III sold 82,130 shares of Coinbase Global stock. The stock was sold at an average price of $119.73, for a total transaction of $9,833,424.90.
• On Wednesday, January 31st, Frederick Ernest Ehrsam III sold 97,836 shares of Coinbase Global stock. The shares were sold at an average price of $131.57, for a total value of $12,872,282.52.
• On Thursday, January 25th, Frederick Ernest Ehrsam III sold 81,530 shares of Coinbase Global stock. The shares were sold at an average price of $121.29, for a total value of $9,888,773.70.
• On Wednesday, January 17th, Frederick Ernest Ehrsam III sold 97,836 shares of Coinbase Global stock. The shares were sold at an average price of $131.90, for a total transaction of $12,904,568.40.
• On Friday, January 12th, Frederick Ernest Ehrsam III sold 97,836 shares of Coinbase Global stock. The shares were sold at an average price of $134.24, for a total transaction of $13,133,504.64.

Coinbase Global Price Performance

Shares of COIN stock traded up $8.42 during trading hours on Thursday, hitting $265.12. 11,179,032 shares of the company’s stock were exchanged, compared to its average volume of 15,018,626. The firm has a 50 day moving average of $185.44 and a two-hundred day moving average of $136.47. Coinbase Global, Inc. has a fifty-two week low of $46.43 and a fifty-two week high of $283.48. The firm has a market cap of $64.23 billion, a P/E ratio of 981.93 and a beta of 3.36. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. The firm had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The business’s revenue was up 51.6% on a year-over-year basis. During the same period in the previous year, the company posted ($2.46) earnings per share. Sell-side analysts forecast that Coinbase Global, Inc. will post 1.68 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Mizuho boosted their price target on Coinbase Global from $60.00 to $84.00 and gave the company an “underperform” rating in a report on Thursday, February 22nd. Keefe, Bruyette & Woods raised shares of Coinbase Global from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $93.00 to $160.00 in a research report on Friday, February 16th. HC Wainwright raised their target price on shares of Coinbase Global from $115.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Citigroup increased their price target on shares of Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a research note on Friday, January 19th. Finally, Raymond James upgraded Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Hold” and a consensus target price of $141.30.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Coinbase Global by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 14,281,280 shares of the cryptocurrency exchange’s stock worth $2,483,800,000 after purchasing an additional 408,046 shares during the period. Morgan Stanley raised its position in Coinbase Global by 18.5% in the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after purchasing an additional 511,397 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Coinbase Global by 84.7% during the 2nd quarter. Renaissance Technologies LLC now owns 3,057,000 shares of the cryptocurrency exchange’s stock worth $218,728,000 after purchasing an additional 1,402,169 shares during the period. Geode Capital Management LLC raised its holdings in Coinbase Global by 7.2% in the 2nd quarter. Geode Capital Management LLC now owns 2,510,007 shares of the cryptocurrency exchange’s stock valued at $179,317,000 after buying an additional 168,018 shares during the period. Finally, Norges Bank purchased a new position in Coinbase Global during the fourth quarter worth about $50,254,000. Institutional investors and hedge funds 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.