Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III Sells 26,649 Shares

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 26,649 shares of Coinbase Global stock in a transaction on Monday, November 25th. The shares were sold at an average price of $308.14, for a total value of $8,211,622.86. Following the completion of the sale, the director now owns 10,417 shares in the company, valued at $3,209,894.38. This represents a 71.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Coinbase Global Stock Up 6.0 %

Shares of NASDAQ:COIN opened at $310.98 on Thursday. Coinbase Global, Inc. has a fifty-two week low of $114.51 and a fifty-two week high of $341.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm’s 50-day simple moving average is $219.83 and its 200-day simple moving average is $216.55. The company has a market cap of $77.85 billion, a price-to-earnings ratio of 53.07 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Coinbase Global’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.01) EPS. As a group, equities research analysts predict that Coinbase Global, Inc. will post 4.27 earnings per share for the current year.

Institutional Trading of Coinbase Global

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in shares of Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after acquiring an additional 314,388 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in Coinbase Global by 2.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock valued at $570,341,000 after purchasing an additional 71,398 shares during the last quarter. Clear Street Derivatives LLC purchased a new position in shares of Coinbase Global in the third quarter valued at $409,919,000. Cowen AND Company LLC increased its position in shares of Coinbase Global by 1.5% in the second quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock valued at $330,895,000 after buying an additional 22,071 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Coinbase Global by 185.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after buying an additional 691,288 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on COIN. Monness Crespi & Hardt initiated coverage on Coinbase Global in a research note on Monday, October 28th. They set a “buy” rating and a $245.00 target price on the stock. Compass Point lowered their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. HC Wainwright restated a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a report on Tuesday, October 29th. Piper Sandler reiterated a “neutral” rating and set a $245.00 target price on shares of Coinbase Global in a report on Friday, November 1st. Finally, Needham & Company LLC raised their price target on shares of Coinbase Global from $290.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and a consensus target price of $255.22.

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.