Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III Sells 16,380 Shares of Stock

Posted by Scott Moore on Mar 29th, 2024

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 16,380 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $274.97, for a total value of $4,504,008.60. Following the transaction, the director now owns 4,662 shares in the company, valued at $1,281,910.14. The transaction was disclosed in a filing 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, March 15th, Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock. The stock was sold at an average price of $238.51, for a total value of $3,906,793.80.
On Tuesday, March 5th, Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock. The stock was sold at an average price of $226.32, for a total value of $3,707,121.60.
On Monday, February 26th, Frederick Ernest Ehrsam III sold 8,735 shares of Coinbase Global stock. The stock was sold at an average price of $186.00, for a total value of $1,624,710.00.
On Wednesday, February 7th, Frederick Ernest Ehrsam III sold 82,130 shares of Coinbase Global stock. The stock was sold at an average price of $119.73, for a total value of $9,833,424.90.
On Wednesday, January 31st, Frederick Ernest Ehrsam III sold 97,836 shares of Coinbase Global stock. The stock was sold at an average price of $131.57, for a total value of $12,872,282.52.
On Thursday, January 25th, Frederick Ernest Ehrsam III sold 81,530 shares of Coinbase Global stock. The stock was sold at an average price of $121.29, for a total value of $9,888,773.70.
On Wednesday, January 17th, Frederick Ernest Ehrsam III sold 97,836 shares of Coinbase Global stock. The stock was sold at an average price of $131.90, for a total value of $12,904,568.40.
On Friday, January 12th, Frederick Ernest Ehrsam III sold 97,836 shares of Coinbase Global stock. The stock was sold at an average price of $134.24, for a total value of $13,133,504.64.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $265.12 on Friday. The stock has a market cap of $64.23 billion, a PE ratio of 981.93 and a beta of 3.36. The business has a fifty day simple moving average of $188.26 and a 200-day simple moving average of $137.37. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. Coinbase Global, Inc. has a 12 month low of $46.43 and a 12 month high of $283.48.

Coinbase Global (NASDAQ:COIN – Get Free Report) last released its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The firm had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. During the same quarter last year, the firm earned ($2.46) earnings per share. The business’s revenue for the quarter was up 51.6% on a year-over-year basis. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 1.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on COIN. JPMorgan Chase & Co. increased their target price on Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Wedbush increased their target price on Coinbase Global from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Canaccord Genuity Group reiterated a “buy” rating and issued a $240.00 target price on shares of Coinbase Global in a research note on Thursday. TheStreet upgraded Coinbase Global from a “d” rating to a “c-” rating in a research note on Friday, February 16th. Finally, Needham & Company LLC increased their target price on Coinbase Global from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, January 8th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $141.30.

Read Our Latest Research Report on COIN

Institutional Trading of Coinbase Global

Institutional investors and hedge funds have recently made changes to their positions in the stock. HighPoint Advisor Group LLC bought a new position in shares of Coinbase Global in the fourth quarter worth about $473,000. Fairman Group LLC bought a new position in Coinbase Global during the fourth quarter valued at about $87,000. PNC Financial Services Group Inc. boosted its holdings in Coinbase Global by 12.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,640 shares of the cryptocurrency exchange’s stock valued at $981,000 after purchasing an additional 610 shares in the last quarter. Regis Acquisition Inc. acquired a new stake in Coinbase Global during the fourth quarter valued at approximately $279,000. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in Coinbase Global by 59.0% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 8,668 shares of the cryptocurrency exchange’s stock valued at $1,508,000 after purchasing an additional 3,218 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

About Coinbase Global

(Get Free Report)

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.