Frederick Ernest Ehrsam III Sells 277,074 Shares of Coinbase Global (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 277,074 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $309.92, for a total transaction of $85,870,774.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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 value of $5,754,319.79.

Coinbase Global Stock Down 4.4%

NASDAQ:COIN opened at $304.01 on Wednesday. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The stock’s fifty day moving average is $334.21 and its two-hundred day moving average is $313.48. The stock has a market capitalization of $81.97 billion, a price-to-earnings ratio of 26.30 and a beta of 3.67. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37.

Coinbase Global (NASDAQ:COIN) last posted 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 return on equity of 15.70% and a net margin of 41.99%.The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the business earned $0.28 EPS. The company’s quarterly revenue was up 55.1% compared to the same quarter last year. Research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on COIN. UBS Group set a $404.00 price target on shares of Coinbase Global in a research report on Friday, October 24th. Canaccord Genuity Group reiterated a “buy” rating and set a $400.00 target price on shares of Coinbase Global in a report on Friday, August 1st. China Renaissance raised their price target on shares of Coinbase Global from $444.60 to $479.30 in a research report on Monday, November 3rd. Williams Trading set a $405.00 price objective on Coinbase Global in a research report on Thursday, July 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Coinbase Global in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $399.94.

Institutional Investors Weigh In On Coinbase Global

Hedge funds and other institutional investors have recently modified their holdings of the company. Cadent Capital Advisors LLC increased its holdings in Coinbase Global by 1.0% in the second quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange’s stock valued at $1,108,000 after buying an additional 30 shares during the last quarter. Ameriflex Group Inc. lifted its holdings in Coinbase Global by 20.0% during the 2nd quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock worth $68,000 after buying an additional 30 shares during the last quarter. Capital Advisors Wealth Management LLC boosted its position in shares of Coinbase Global by 2.0% during the 3rd quarter. Capital Advisors Wealth Management LLC now owns 1,549 shares of the cryptocurrency exchange’s stock worth $523,000 after acquiring an additional 30 shares in the last quarter. Elevation Wealth Partners LLC increased its holdings in shares of Coinbase Global by 37.6% in the 3rd quarter. Elevation Wealth Partners LLC now owns 117 shares of the cryptocurrency exchange’s stock valued at $39,000 after acquiring an additional 32 shares during the last quarter. Finally, Pettinga Financial Advisors LLC raised its position in shares of Coinbase Global by 2.6% during the 2nd quarter. Pettinga Financial Advisors LLC now owns 1,321 shares of the cryptocurrency exchange’s stock worth $463,000 after acquiring an additional 34 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

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.