Coinbase Global (NASDAQ:COIN) Director Sells $85,870,774.08 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 277,074 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $309.92, for a total transaction of $85,870,774.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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 stock was sold at an average price of $288.77, for a total transaction of $5,754,319.79.

Coinbase Global Stock Down 0.0%

COIN stock opened at $304.00 on Thursday. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average of $334.24 and a two-hundred day moving average of $313.42. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The company has a market cap of $81.97 billion, a price-to-earnings ratio of 26.30 and a beta of 3.67.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.40. The business had revenue of $1.87 billion for 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 business’s revenue for the quarter was up 55.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.28 EPS. As a group, analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Evelyn Partners Investment Management Europe Ltd boosted its holdings in Coinbase Global by 92.3% in the second 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 stake in shares of Coinbase Global during the 3rd quarter worth approximately $25,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Coinbase Global during the 2nd quarter worth approximately $30,000. Salomon & Ludwin LLC boosted its holdings in shares of Coinbase Global by 4,400.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 90 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 88 shares in the last quarter. Finally, City State Bank purchased a new position in shares of Coinbase Global in the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Piper Sandler restated a “neutral” rating and issued a $350.00 target price on shares of Coinbase Global in a report on Thursday, July 31st. HC Wainwright raised shares of Coinbase Global from a “sell” rating to a “buy” rating and upped their price objective for the company from $300.00 to $425.00 in a report on Thursday, October 30th. China Renaissance lifted their target price on shares of Coinbase Global from $444.60 to $479.30 in a research note on Monday, November 3rd. Oppenheimer reissued an “outperform” rating and issued a $417.00 price target on shares of Coinbase Global in a research note on Thursday, July 31st. Finally, Williams Trading set a $405.00 price target on shares of Coinbase Global in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $399.94.

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.