Coinbase Global, Inc. (NASDAQ:COIN) Director Sells $9,833,424.90 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 82,130 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total value of $9,833,424.90. Following the completion of the sale, the director now directly owns 4,662 shares of the company’s stock, valued at approximately $558,181.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

  • On Wednesday, January 31st, Frederick Ernest Ehrsam III sold 97,836 shares of Coinbase Global stock. The stock was 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 stock was 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 stock was sold at an average price of $131.90, for a total value of $12,904,568.40.
  • On Friday, January 12th, Frederick Ernest Ehrsam III sold 97,836 shares of Coinbase Global stock. The stock was sold at an average price of $134.24, for a total value of $13,133,504.64.
  • On Tuesday, December 26th, Frederick Ernest Ehrsam III sold 101,936 shares of Coinbase Global stock. The stock was sold at an average price of $173.76, for a total value of $17,712,399.36.
  • On Tuesday, December 19th, Frederick Ernest Ehrsam III sold 97,836 shares of Coinbase Global stock. The shares were sold at an average price of $158.36, for a total value of $15,493,308.96.
  • On Monday, December 11th, Frederick Ernest Ehrsam III sold 97,836 shares of Coinbase Global stock. The shares were sold at an average price of $139.07, for a total value of $13,606,052.52.
  • On Thursday, December 7th, Frederick Ernest Ehrsam III sold 97,836 shares of Coinbase Global stock. The shares were sold at an average price of $135.70, for a total value of $13,276,345.20.
  • On Wednesday, November 22nd, Frederick Ernest Ehrsam III sold 81,530 shares of Coinbase Global stock. The shares were sold at an average price of $106.94, for a total value of $8,718,818.20.

Coinbase Global Price Performance

Coinbase Global stock opened at $141.99 on Friday. The business’s 50-day simple moving average is $144.40 and its 200 day simple moving average is $105.79. The stock has a market cap of $33.97 billion, a price-to-earnings ratio of -43.96 and a beta of 3.14. Coinbase Global, Inc. has a 12-month low of $46.43 and a 12-month high of $187.39. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52.

Analysts Set New Price Targets

Several research firms have recently weighed in on COIN. Citigroup increased their price objective on Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a research report on Friday, January 19th. Mizuho upped their target price on Coinbase Global from $54.00 to $60.00 and gave the company an “underperform” rating in a research note on Thursday, January 18th. The Goldman Sachs Group upped their target price on Coinbase Global from $55.00 to $123.00 and gave the company a “sell” rating in a research note on Thursday, December 7th. Wedbush upped their target price on Coinbase Global from $110.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, January 11th. Finally, JPMorgan Chase & Co. lowered Coinbase Global from a “neutral” rating to an “underweight” rating and set a $80.00 target price for the company. in a research note on Tuesday, January 23rd. Seven analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $103.68.

Check Out Our Latest Stock Analysis on Coinbase Global

Hedge Funds Weigh In On Coinbase Global

Hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in Coinbase Global by 53.7% in the second quarter. Van ECK Associates Corp now owns 169,554 shares of the cryptocurrency exchange’s stock valued at $12,132,000 after acquiring an additional 59,216 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Coinbase Global by 79.4% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,603 shares of the cryptocurrency exchange’s stock valued at $1,045,000 after acquiring an additional 6,465 shares during the last quarter. Barclays PLC boosted its holdings in Coinbase Global by 41.5% in the third quarter. Barclays PLC now owns 404,779 shares of the cryptocurrency exchange’s stock valued at $30,394,000 after acquiring an additional 118,670 shares during the last quarter. California Public Employees Retirement System boosted its holdings in Coinbase Global by 25.4% in the third quarter. California Public Employees Retirement System now owns 304,653 shares of the cryptocurrency exchange’s stock valued at $22,873,000 after acquiring an additional 61,788 shares during the last quarter. Finally, Whittier Trust Co. boosted its holdings in Coinbase Global by 9.7% in the third quarter. Whittier Trust Co. now owns 96,971 shares of the cryptocurrency exchange’s stock valued at $7,281,000 after acquiring an additional 8,570 shares during the last quarter. Institutional investors own 45.96% of the company’s stock.

About Coinbase Global

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Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. It offers the primary financial account in the cryptoeconomy for consumers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment.

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Insider Buying and Selling by Quarter for Coinbase Global (NASDAQ:COIN)

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