Coinbase Global (NASDAQ:COIN) Director Frederick Ernest Ehrsam III Sells 55,688 Shares

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 55,688 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $321.81, for a total transaction of $17,920,955.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Friday, November 7th, Frederick Ernest Ehrsam III sold 19,927 shares of Coinbase Global stock. The shares were sold at an average price of $288.77, for a total transaction 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 transaction of $85,870,774.08.

Coinbase Global Stock Performance

Shares of COIN opened at $283.14 on Friday. The stock has a 50-day moving average of $333.77 and a 200-day moving average of $313.21. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64. 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 cap of $76.35 billion, a PE ratio of 24.49 and a beta of 3.67.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.40. The firm 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 last year, the firm posted $0.28 earnings per share. On average, equities research analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Piper Sandler restated a “neutral” rating and set a $350.00 price target on shares of Coinbase Global in a research note on Thursday, July 31st. Monness Crespi & Hardt raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and set a $375.00 price target on the stock in a research report on Monday. Cantor Fitzgerald lowered their price objective on Coinbase Global from $500.00 to $459.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Bank of America decreased their price target on Coinbase Global from $369.00 to $340.00 in a report on Wednesday, October 1st. Finally, BTIG Research raised their price objective on Coinbase Global from $410.00 to $420.00 and gave the company a “buy” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $399.94.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Coinbase Global by 8.3% during the 3rd quarter. Vanguard Group Inc. now owns 26,216,793 shares of the cryptocurrency exchange’s stock worth $8,847,905,000 after purchasing an additional 2,007,930 shares during the period. Geode Capital Management LLC grew its position in Coinbase Global by 46.1% during the second quarter. Geode Capital Management LLC now owns 5,559,513 shares of the cryptocurrency exchange’s stock valued at $1,940,805,000 after buying an additional 1,755,146 shares during the period. ARK Investment Management LLC increased its holdings in Coinbase Global by 1.1% during the first quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange’s stock worth $528,592,000 after buying an additional 34,462 shares during the last quarter. Groupama Asset Managment raised its position in Coinbase Global by 100.0% in the first quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock worth $516,690,000 after acquiring an additional 1,500,000 shares during the period. Finally, Norges Bank purchased a new position in Coinbase Global in the second quarter valued at about $1,044,354,000. Hedge funds and other 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.