Coinbase Global (NASDAQ:COIN) Director Sells $715,907.50 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 2,750 shares of Coinbase Global stock in a transaction that occurred on Thursday, November 20th. The shares were 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 can be accessed through this hyperlink.

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 stock was 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 Trading Up 6.5%

Shares of Coinbase Global stock traded up $15.56 during trading hours on Monday, hitting $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 stock has a market cap of $69.02 billion, a price-to-earnings ratio of 22.14 and a beta of 3.67. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The firm has a fifty day moving average of $327.03 and a 200-day moving average of $317.14.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the firm earned $0.28 EPS. Coinbase Global’s revenue was up 55.1% on a year-over-year basis. Research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. REAP Financial Group LLC purchased a new stake in Coinbase Global during the 3rd quarter worth about $25,000. Evelyn Partners Investment Management Europe Ltd grew its position in shares of Coinbase Global by 92.3% during the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock worth $29,000 after buying an additional 36 shares in the last quarter. Palisade Asset Management LLC purchased a new stake in shares of Coinbase Global during the third quarter worth approximately $29,000. McClarren Financial Advisors Inc. acquired a new stake in Coinbase Global in the first quarter valued at approximately $30,000. Finally, Cullen Frost Bankers Inc. purchased a new position in Coinbase Global in the second quarter worth approximately $30,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on COIN. Compass Point decreased their price objective on shares of Coinbase Global from $277.00 to $266.00 in a report on Friday, October 31st. China Renaissance raised their price target on Coinbase Global from $444.60 to $479.30 in a research report on Monday, November 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price objective on shares of Coinbase Global in a research note on Friday, October 31st. Rothschild Redb upgraded Coinbase Global from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. Finally, Mizuho raised their target price on Coinbase Global from $300.00 to $320.00 and gave the company a “neutral” rating in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.