Coinbase Global, Inc. (NASDAQ:COIN) Director Sells $4,049,626.66 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 15,517 shares of the company’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $260.98, for a total transaction of $4,049,626.66. Following the completion of the transaction, the director now owns 10,417 shares of the company’s stock, valued at approximately $2,718,628.66. The trade was a 59.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Tuesday, May 13th, Frederick Ernest Ehrsam III sold 30,167 shares of Coinbase Global stock. The stock was sold at an average price of $252.68, for a total transaction of $7,622,597.56.

Coinbase Global Price Performance

Coinbase Global stock opened at $244.44 on Friday. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $349.75. The firm has a 50 day moving average price of $190.16 and a 200 day moving average price of $243.74. The company has a market cap of $62.06 billion, a price-to-earnings ratio of 25.73 and a beta of 3.62. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter in the previous year, the firm posted $2.53 earnings per share. Coinbase Global’s revenue for the quarter was up 24.2% compared to the same quarter last year. Sell-side analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on COIN. JMP Securities restated a “market outperform” rating and issued a $400.00 target price on shares of Coinbase Global in a research note on Thursday, May 8th. Bank of America dropped their target price on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Sanford C. Bernstein upgraded shares of Coinbase Global to a “strong-buy” rating in a report on Tuesday, March 18th. Needham & Company LLC dropped their target price on shares of Coinbase Global from $330.00 to $270.00 and set a “buy” rating for the company in a report on Monday. Finally, HC Wainwright restated a “buy” rating and set a $350.00 target price on shares of Coinbase Global in a report on Friday, February 21st. Ten analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $262.75.

Institutional Investors Weigh In On Coinbase Global

A number of institutional investors have recently bought and sold shares of COIN. Norges Bank purchased a new stake in Coinbase Global in the fourth quarter valued at approximately $536,484,000. Groupama Asset Managment acquired a new position in Coinbase Global during the fourth quarter valued at approximately $372,450,000. Vanguard Group Inc. lifted its position in Coinbase Global by 4.8% during the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after buying an additional 875,359 shares in the last quarter. Nuveen LLC acquired a new position in Coinbase Global during the first quarter valued at approximately $83,454,000. Finally, Amundi lifted its position in Coinbase Global by 44.1% during the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock valued at $268,850,000 after buying an additional 481,786 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

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.