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 Coinbase Global stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $256.19, for a total value of $4,196,392.20. Following the sale, the director now directly owns 4,662 shares of the company’s stock, valued at approximately $1,194,357.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, April 2nd, Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock. The stock was sold at an average price of $243.30, for a total value of $3,985,254.00.
• On Tuesday, March 26th, Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock. The shares were sold at an average price of $274.97, for a total value of $4,504,008.60.
• On Friday, March 15th, Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock. The shares were 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 shares were 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 shares were sold at an average price of $186.00, for a total value of $1,624,710.00.
• On Wednesday, February 7th, Frederick Ernest Ehrsam III sold 82,130 shares of Coinbase Global stock. The shares were sold at an average price of $119.73, for a total value 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 value 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 value of $13,133,504.64.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $250.99 on Thursday. Coinbase Global, Inc. has a 52 week low of $46.43 and a 52 week high of $283.48. The business’s fifty day simple moving average is $210.65 and its 200-day simple moving average is $148.59. The firm has a market cap of $60.81 billion, a PE ratio of 929.59 and a beta of 3.41. 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 announced its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, beating the consensus estimate of ($0.09) by $1.13. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The business had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. During the same quarter in the prior year, the company posted ($2.46) EPS. The company’s quarterly revenue was up 51.6% on a year-over-year basis. Equities analysts forecast that Coinbase Global, Inc. will post 2.1 earnings per share for the current year.

Hedge Funds Weigh In On Coinbase Global

Several large investors have recently modified their holdings of the business. Barrett & Company Inc. acquired a new position in Coinbase Global during the 4th quarter worth about $26,000. Ancora Advisors LLC lifted its stake in Coinbase Global by 144.0% during the 4th quarter. Ancora Advisors LLC now owns 737 shares of the cryptocurrency exchange’s stock worth $26,000 after acquiring an additional 435 shares in the last quarter. Creekmur Asset Management LLC acquired a new position in Coinbase Global during the 4th quarter worth about $27,000. Tyler Stone Wealth Management acquired a new position in Coinbase Global during the 2nd quarter worth about $31,000. Finally, Mather Group LLC. purchased a new stake in Coinbase Global during the 1st quarter worth about $32,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

COIN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. The Goldman Sachs Group upgraded Coinbase Global from a “sell” rating to a “neutral” rating in a research report on Friday, March 8th. Raymond James upgraded Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. Keefe, Bruyette & Woods boosted their price target on Coinbase Global from $160.00 to $230.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 3rd. Finally, HC Wainwright boosted their price target on Coinbase Global from $115.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Three 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $156.65.

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.