Coinbase Global (NASDAQ:COIN) Director Frederick Ernest Ehrsam III Sells 2,750 Shares

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 2,750 shares of the stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $260.33, for a total transaction of $715,907.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• 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 value 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 shares were sold at an average price of $309.92, for a total value of $85,870,774.08.

Coinbase Global Price Performance

Shares of Coinbase Global stock traded up $15.56 on Monday, reaching $255.97. The company’s stock had a trading volume of 9,865,368 shares, compared to its average volume of 10,966,625. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $69.02 billion, a P/E ratio of 22.14 and a beta of 3.67. The stock has a 50-day moving average price of $327.03 and a 200-day moving average price of $317.14. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week 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, beating analysts’ consensus estimates of $1.04 by $0.40. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The firm’s revenue for the quarter was up 55.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.28 EPS. Analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Institutional Investors Weigh In On Coinbase Global

Large investors have recently made changes to their positions in the stock. REAP Financial Group LLC acquired a new position in Coinbase Global during the third quarter worth $25,000. Evelyn Partners Investment Management Europe Ltd increased its stake 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 worth $29,000 after acquiring an additional 36 shares during the last quarter. Palisade Asset Management LLC purchased a new position in shares of Coinbase Global during the 3rd quarter worth $29,000. McClarren Financial Advisors Inc. acquired a new position in shares of Coinbase Global during the 1st quarter valued at about $30,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Coinbase Global in the second quarter valued at about $30,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Bank of America cut their target price on shares of Coinbase Global from $369.00 to $340.00 in a research note on Wednesday, October 1st. Rosenblatt Securities lifted their price objective on Coinbase Global from $450.00 to $470.00 in a report on Friday, October 31st. Mizuho boosted their price objective on Coinbase Global from $300.00 to $320.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. China Renaissance raised their target price on Coinbase Global from $444.60 to $479.30 in a research report on Monday, November 3rd. Finally, Barclays dropped their price target on Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating for the company in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $398.08.

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.