Frederick Ernest Ehrsam III Sells 4,125 Shares of Coinbase Global (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 4,125 shares of the stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $274.06, for a total transaction of $1,130,497.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, November 20th, Frederick Ernest Ehrsam III sold 2,750 shares of Coinbase Global stock. The stock was sold at an average price of $260.33, for a total transaction of $715,907.50.
• On Monday, November 10th, Frederick Ernest Ehrsam III sold 55,688 shares of Coinbase Global stock. The shares were sold at an average price of $321.81, for a total transaction of $17,920,955.28.
• On Friday, November 7th, Frederick Ernest Ehrsam III sold 19,927 shares of Coinbase Global stock. The stock was sold at an average price of $288.77, for a total value of $5,754,319.79.
• On Thursday, November 6th, Frederick Ernest Ehrsam III sold 277,074 shares of Coinbase Global stock. The stock was sold at an average price of $309.92, for a total value of $85,870,774.08.

Coinbase Global Stock Up 1.2%

Shares of Coinbase Global stock opened at $277.36 on Wednesday. The business’s fifty day moving average price is $312.73 and its two-hundred day moving average price is $318.87. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40. The company has a market capitalization of $74.79 billion, a P/E ratio of 23.99 and a beta of 3.69. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.40. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The company’s revenue for the quarter was up 55.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 earnings per share. As a group, research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on COIN. Bank of America dropped their price target on shares of Coinbase Global from $369.00 to $340.00 in a research report on Wednesday, October 1st. Erste Group Bank cut Coinbase Global from a “buy” rating to a “hold” rating in a report on Thursday, November 20th. Rothschild & Co Redburn decreased their price target on Coinbase Global from $417.00 to $404.00 and set a “buy” rating for the company in a research note on Friday, November 28th. HC Wainwright upgraded Coinbase Global from a “sell” rating to a “buy” rating and lifted their price target for the company from $300.00 to $425.00 in a research report on Thursday, October 30th. Finally, B. Riley upped their price objective on Coinbase Global from $185.00 to $243.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $396.94.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of COIN. IFP Advisors Inc purchased a new stake in Coinbase Global in the 3rd quarter worth about $2,698,000. Swiss Life Asset Management Ltd increased its holdings in shares of Coinbase Global by 6.8% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 21,189 shares of the cryptocurrency exchange’s stock valued at $7,151,000 after purchasing an additional 1,341 shares during the period. Strategic Advocates LLC purchased a new stake in shares of Coinbase Global in the third quarter worth approximately $156,000. KERR FINANCIAL PLANNING Corp purchased a new position in Coinbase Global during the third quarter valued at approximately $370,000. Finally, CIBC Private Wealth Group LLC grew its position in Coinbase Global by 20.0% during the third quarter. CIBC Private Wealth Group LLC now owns 1,319 shares of the cryptocurrency exchange’s stock valued at $445,000 after purchasing an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

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.