Coinbase Global, Inc. (NASDAQ:COIN) Director Sells $3,806,220.60 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $232.37, for a total value of $3,806,220.60. Following the completion of the transaction, the director now directly owns 4,662 shares of the company’s stock, valued at $1,083,308.94. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Wednesday, April 17th, Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock. The shares were sold at an average price of $213.99, for a total transaction of $3,505,156.20.
• On Monday, April 8th, Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock. The stock was sold at an average price of $256.19, for a total transaction of $4,196,392.20.
• 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 transaction 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 stock was sold at an average price of $226.32, for a total transaction 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 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.

Coinbase Global Trading Up 5.7 %

COIN stock opened at $236.32 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The company has a market cap of $57.25 billion, a price-to-earnings ratio of 875.26 and a beta of 3.41. The business has a fifty day simple moving average of $231.74 and a 200-day simple moving average of $160.91. Coinbase Global, Inc. has a 52 week low of $46.43 and a 52 week high of $283.48.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping the consensus estimate of ($0.09) by $1.13. The company had revenue of $953.80 million during 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 firm’s revenue was up 51.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($2.46) earnings per share. On average, equities research analysts expect that Coinbase Global, Inc. will post 2.43 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of COIN. Barrett & Company Inc. acquired a new stake in shares of Coinbase Global in the fourth quarter worth $26,000. Creekmur Asset Management LLC acquired a new stake in Coinbase Global in the 4th quarter valued at $27,000. Mather Group LLC. purchased a new position in Coinbase Global in the first quarter valued at about $32,000. AlphaMark Advisors LLC acquired a new position in shares of Coinbase Global during the fourth quarter worth about $33,000. Finally, Signature Resources Capital Management LLC purchased a new stake in shares of Coinbase Global in the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on COIN shares. Keefe, Bruyette & Woods upped their price objective on shares of Coinbase Global from $160.00 to $230.00 and gave the company a “market perform” rating in a research note on Wednesday, April 3rd. Sanford C. Bernstein raised their price target on Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a research note on Thursday, April 18th. Mizuho boosted their price objective on Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a research note on Friday, April 12th. Canaccord Genuity Group restated a “buy” rating and set a $240.00 target price on shares of Coinbase Global in a research report on Thursday, March 28th. Finally, TheStreet upgraded shares of Coinbase Global from a “d” rating to a “c-” rating in a research report on Friday, February 16th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $165.43.

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.