Insider Selling: Coinbase Global, Inc. (NASDAQ:COIN) Director Sells 7,614 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 7,614 shares of Coinbase Global stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the sale, the director now owns 10,417 shares in the company, valued at approximately $3,074,056.70. This trade represents a 42.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, February 4th, Frederick Ernest Ehrsam III sold 15,228 shares of Coinbase Global stock. The shares were sold at an average price of $280.51, for a total value of $4,271,606.28.
• On Friday, January 24th, Frederick Ernest Ehrsam III sold 10,216 shares of Coinbase Global stock. The stock was sold at an average price of $310.14, for a total value of $3,168,390.24.
• On Tuesday, January 21st, Frederick Ernest Ehrsam III sold 25,194 shares of Coinbase Global stock. The shares were sold at an average price of $298.95, for a total value of $7,531,746.30.
• On Friday, January 17th, Frederick Ernest Ehrsam III sold 5,262 shares of Coinbase Global stock. The shares were sold at an average price of $300.09, for a total transaction of $1,579,073.58.
• On Monday, January 6th, Frederick Ernest Ehrsam III sold 22,842 shares of Coinbase Global stock. The stock was sold at an average price of $281.94, for a total transaction of $6,440,073.48.
• On Monday, December 23rd, Frederick Ernest Ehrsam III sold 11,421 shares of Coinbase Global stock. The shares were sold at an average price of $273.23, for a total transaction of $3,120,559.83.
• On Wednesday, December 4th, Frederick Ernest Ehrsam III sold 7,614 shares of Coinbase Global stock. The stock was sold at an average price of $325.14, for a total transaction of $2,475,615.96.
• On Monday, November 25th, Frederick Ernest Ehrsam III sold 26,649 shares of Coinbase Global stock. The stock was sold at an average price of $308.14, for a total value of $8,211,622.86.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN opened at $264.63 on Wednesday. The company has a market capitalization of $66.25 billion, a price-to-earnings ratio of 45.16 and a beta of 3.61. The firm’s 50 day simple moving average is $279.49 and its 200 day simple moving average is $239.21. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global, Inc. has a fifty-two week low of $146.12 and a fifty-two week high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. As a group, sell-side analysts forecast that Coinbase Global, Inc. will post 4.81 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sunbelt Securities Inc. increased its holdings in shares of Coinbase Global by 14.9% in the fourth quarter. Sunbelt Securities Inc. now owns 800 shares of the cryptocurrency exchange’s stock worth $204,000 after acquiring an additional 104 shares in the last quarter. Alpine Global Management LLC bought a new stake in Coinbase Global during the 4th quarter worth approximately $640,000. Vise Technologies Inc. raised its holdings in Coinbase Global by 56.1% during the 4th quarter. Vise Technologies Inc. now owns 3,930 shares of the cryptocurrency exchange’s stock worth $976,000 after buying an additional 1,413 shares during the period. Gordian Capital Singapore Pte Ltd lifted its stake in Coinbase Global by 825.8% in the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 611 shares of the cryptocurrency exchange’s stock valued at $152,000 after buying an additional 545 shares in the last quarter. Finally, AlphaQ Advisors LLC boosted its holdings in shares of Coinbase Global by 51.4% in the fourth quarter. AlphaQ Advisors LLC now owns 2,251 shares of the cryptocurrency exchange’s stock valued at $559,000 after buying an additional 764 shares during the period. 68.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

COIN has been the subject of several research analyst reports. Bank of America boosted their price objective on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. B. Riley assumed coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price on the stock. JMP Securities boosted their price objective on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a report on Thursday, February 13th. Finally, HC Wainwright lifted their target price on Coinbase Global from $255.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $303.94.

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.