Insider Selling: 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 the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $232.37, for a total value of $3,806,220.60. Following the sale, the director now owns 4,662 shares in the company, valued at approximately $1,083,308.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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 stock was sold at an average price of $213.99, for a total value of $3,505,156.20.
• On Monday, April 8th, Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock. The shares were sold at an average price of $256.19, for a total value of $4,196,392.20.
• On Tuesday, April 2nd, Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock. The shares were 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.

Coinbase Global Stock Performance

Coinbase Global stock opened at $236.32 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a fifty day moving average price of $231.74 and a two-hundred day moving average price of $161.48. Coinbase Global, Inc. has a 52-week low of $46.43 and a 52-week high of $283.48. The firm has a market capitalization of $57.25 billion, a P/E ratio of 875.26 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $953.80 million during the quarter, compared to analyst estimates of $826.10 million. During the same period in the prior year, the company posted ($2.46) earnings per share. The business’s revenue for the quarter was up 51.6% compared to the same quarter last year. As a group, analysts anticipate that Coinbase Global, Inc. will post 2.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

COIN has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their price target on Coinbase Global from $160.00 to $230.00 and gave the company a “market perform” rating in a research note on Wednesday, April 3rd. Needham & Company LLC boosted their price target on Coinbase Global from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, January 8th. JMP Securities reissued a “market outperform” rating on shares of Coinbase Global in a research note on Friday, March 22nd. Wedbush boosted their price target on Coinbase Global from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Finally, Sanford C. Bernstein upped their target price on Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Coinbase Global presently has an average rating of “Hold” and a consensus target price of $165.43.

Institutional Trading of Coinbase Global

Large investors have recently made changes to their positions in the business. Raymond James & Associates grew its holdings in shares of Coinbase Global by 65.5% during the fourth quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock worth $4,203,000 after purchasing an additional 9,564 shares during the last quarter. Masso Torrence Wealth Management Inc. bought a new stake in shares of Coinbase Global during the fourth quarter worth $302,000. Mariner LLC grew its holdings in shares of Coinbase Global by 5.4% during the third quarter. Mariner LLC now owns 82,582 shares of the cryptocurrency exchange’s stock worth $6,200,000 after purchasing an additional 4,259 shares during the last quarter. Itau Unibanco Holding S.A. grew its holdings in shares of Coinbase Global by 10.0% during the third quarter. Itau Unibanco Holding S.A. now owns 1,374 shares of the cryptocurrency exchange’s stock worth $103,000 after purchasing an additional 125 shares during the last quarter. Finally, Oak Thistle LLC bought a new stake in shares of Coinbase Global during the fourth quarter worth $1,035,000. Institutional investors 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.