Insider Selling: Coinbase Global (NASDAQ:COIN) Director Sells 277,074 Shares of Stock

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

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 stock was sold at an average price of $288.77, for a total value of $5,754,319.79.

Coinbase Global Stock Up 2.8%

Shares of COIN traded up $8.79 on Monday, reaching $317.93. The stock had a trading volume of 8,876,154 shares, compared to its average volume of 10,942,719. 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 12-month low of $142.58 and a 12-month high of $444.64. The firm has a market capitalization of $85.73 billion, a price-to-earnings ratio of 27.50 and a beta of 3.67. The company has a 50-day simple moving average of $333.93 and a 200-day simple moving average of $312.01.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.40. The company 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 firm’s revenue for the quarter was up 55.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 earnings per share. Sell-side analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Coinbase Global by 8.3% during the 3rd quarter. Vanguard Group Inc. now owns 26,216,793 shares of the cryptocurrency exchange’s stock valued at $8,847,905,000 after acquiring an additional 2,007,930 shares during the period. Geode Capital Management LLC lifted its position in Coinbase Global by 46.1% during the second quarter. Geode Capital Management LLC now owns 5,559,513 shares of the cryptocurrency exchange’s stock valued at $1,940,805,000 after purchasing an additional 1,755,146 shares in the last quarter. ARK Investment Management LLC grew its holdings in Coinbase Global by 1.1% during the first quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange’s stock valued at $528,592,000 after purchasing an additional 34,462 shares during the period. Groupama Asset Managment increased its position in Coinbase Global by 100.0% in the first quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock worth $516,690,000 after buying an additional 1,500,000 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Coinbase Global in the second quarter worth about $1,044,354,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on COIN. Benchmark restated a “buy” rating on shares of Coinbase Global in a report on Friday, October 31st. Argus began coverage on Coinbase Global in a research note on Monday, July 14th. They issued a “buy” rating and a $400.00 price target on the stock. Wall Street Zen upgraded Coinbase Global from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Needham & Company LLC reissued a “buy” rating and issued a $400.00 target price on shares of Coinbase Global in a research note on Friday, October 31st. Finally, JPMorgan Chase & Co. reduced their price target on Coinbase Global from $404.00 to $399.00 and set an “overweight” rating for the company in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.