Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) Director Sells 25,194 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 25,194 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $298.95, for a total value of $7,531,746.30. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $3,114,162.15. This represents a 70.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, January 17th, Frederick Ernest Ehrsam III sold 5,262 shares of Coinbase Global stock. The shares were sold at an average price of $300.09, for a total value of $1,579,073.58.
• On Monday, January 6th, Frederick Ernest Ehrsam III sold 22,842 shares of Coinbase Global stock. The stock was sold at an average price of $281.94, for a total value of $6,440,073.48.
• On Monday, December 23rd, Frederick Ernest Ehrsam III sold 11,421 shares of Coinbase Global stock. The shares were sold at an average price of $273.23, for a total transaction of $3,120,559.83.
• On Wednesday, December 4th, Frederick Ernest Ehrsam III sold 7,614 shares of Coinbase Global stock. The shares were sold at an average price of $325.14, for a total transaction of $2,475,615.96.
• On Monday, November 25th, Frederick Ernest Ehrsam III sold 26,649 shares of Coinbase Global stock. The stock was sold at an average price of $308.14, for a total transaction of $8,211,622.86.

Coinbase Global Stock Up 0.6 %

Shares of COIN stock opened at $295.85 on Thursday. Coinbase Global, Inc. has a 12 month low of $114.51 and a 12 month high of $349.75. 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 has a market cap of $74.07 billion, a PE ratio of 50.49 and a beta of 3.59. The stock has a 50 day moving average of $290.36 and a 200-day moving average of $232.75.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Coinbase Global’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.01) earnings per share. On average, equities analysts predict that Coinbase Global, Inc. will post 4.81 EPS for the current year.

Institutional Investors Weigh In On Coinbase Global

A number of institutional investors have recently added to or reduced their stakes in the company. Tamar Securities LLC acquired a new position in Coinbase Global in the 4th quarter valued at approximately $312,000. Perigon Wealth Management LLC raised its stake in shares of Coinbase Global by 3.8% in the fourth quarter. Perigon Wealth Management LLC now owns 7,761 shares of the cryptocurrency exchange’s stock valued at $1,927,000 after purchasing an additional 283 shares in the last quarter. Nilsine Partners LLC lifted its position in Coinbase Global by 2.4% in the fourth quarter. Nilsine Partners LLC now owns 6,910 shares of the cryptocurrency exchange’s stock worth $1,716,000 after purchasing an additional 162 shares during the period. Foundations Investment Advisors LLC boosted its stake in Coinbase Global by 198.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 13,614 shares of the cryptocurrency exchange’s stock worth $3,380,000 after buying an additional 9,045 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC increased its holdings in Coinbase Global by 6.4% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 1,378 shares of the cryptocurrency exchange’s stock valued at $342,000 after buying an additional 83 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on COIN shares. Bank of America raised their target price on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. JMP Securities restated a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 9th. Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a report on Thursday, October 31st. Piper Sandler raised their price target on shares of Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $282.83.

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.