Frederick Ernest Ehrsam III Sells 19,927 Shares of Coinbase Global (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 19,927 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $288.77, for a total transaction of $5,754,319.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 transaction of $85,870,774.08.

Coinbase Global Stock Up 2.8%

NASDAQ:COIN traded up $8.79 during mid-day trading on Monday, hitting $317.93. 8,876,154 shares of the company’s stock were exchanged, compared to its average volume of 10,942,719. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64. The business has a fifty day moving average price of $333.93 and a 200 day moving average price of $312.01. The company has a market cap of $85.73 billion, a PE ratio of 27.50 and a beta of 3.67. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, topping 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 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. Equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its holdings in shares of Coinbase Global by 24.0% in the first quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange’s stock worth $8,861,000 after buying an additional 9,952 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in Coinbase Global by 38.5% in the 1st quarter. TD Private Client Wealth LLC now owns 611 shares of the cryptocurrency exchange’s stock valued at $105,000 after acquiring an additional 170 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in Coinbase Global by 29.1% in the 1st quarter. Crossmark Global Holdings Inc. now owns 1,813 shares of the cryptocurrency exchange’s stock worth $312,000 after purchasing an additional 409 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Coinbase Global by 11.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 27,094 shares of the cryptocurrency exchange’s stock valued at $4,548,000 after purchasing an additional 2,748 shares during the last quarter. Finally, Greenleaf Trust grew its position in shares of Coinbase Global by 4.7% during the first quarter. Greenleaf Trust now owns 1,596 shares of the cryptocurrency exchange’s stock valued at $275,000 after purchasing an additional 71 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Keefe, Bruyette & Woods cut their price objective on shares of Coinbase Global from $355.00 to $335.00 and set a “market perform” rating on the stock in a research report on Monday, August 4th. Rothschild Redb upgraded shares of Coinbase Global from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Barclays decreased their price objective on shares of Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating for the company in a report on Friday, October 31st. UBS Group set a $404.00 target price on Coinbase Global in a research note on Friday, October 24th. Finally, Cantor Fitzgerald decreased their price target on Coinbase Global from $500.00 to $459.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.