Frederick Ernest Ehrsam III Sells 19,927 Shares of Coinbase Global (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 19,927 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $288.77, for a total transaction of $5,754,319.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, November 6th, Frederick Ernest Ehrsam III sold 277,074 shares of Coinbase Global stock. The shares were sold at an average price of $309.92, for a total value of $85,870,774.08.

Coinbase Global Trading Up 2.8%

NASDAQ:COIN traded up $8.79 during midday trading on Monday, hitting $317.93. 8,876,154 shares of the company traded hands, compared to its average volume of 10,942,719. The firm has a market capitalization of $85.73 billion, a P/E ratio of 27.50 and a beta of 3.67. The firm’s fifty day moving average is $333.93 and its 200-day moving average is $312.01. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, topping the consensus estimate of $1.04 by $0.40. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the firm earned $0.28 earnings per share. Coinbase Global’s quarterly revenue was up 55.1% compared to the same quarter last year. On average, sell-side analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Upgrades and Downgrades

COIN has been the topic of several analyst reports. Jefferies Financial Group reiterated a “hold” rating and set a $384.00 price target on shares of Coinbase Global in a report on Wednesday, October 29th. Barclays dropped their price objective on Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating for the company in a report on Friday, October 31st. Citigroup lifted their target price on Coinbase Global from $270.00 to $505.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Williams Trading set a $405.00 price target on shares of Coinbase Global in a report on Thursday, July 31st. Finally, Rosenblatt Securities raised their price target on shares of Coinbase Global from $450.00 to $470.00 in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $399.94.

Institutional Trading of Coinbase Global

A number of hedge funds have recently added to or reduced their stakes in COIN. Evelyn Partners Investment Management Europe Ltd raised its holdings in shares of Coinbase Global by 92.3% in the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock valued at $29,000 after purchasing an additional 36 shares in the last quarter. REAP Financial Group LLC purchased a new position in Coinbase Global during the third quarter valued at approximately $25,000. Cullen Frost Bankers Inc. purchased a new position in Coinbase Global during the second quarter valued at approximately $30,000. Salomon & Ludwin LLC raised its stake in Coinbase Global by 4,400.0% in the third quarter. Salomon & Ludwin LLC now owns 90 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 88 shares in the last quarter. Finally, City State Bank bought a new position in Coinbase Global in the second quarter worth approximately $33,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

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.