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 business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $288.77, for a total transaction of $5,754,319.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 Price Performance

Shares of NASDAQ:COIN opened at $304.01 on Wednesday. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37. The stock has a market cap of $81.97 billion, a PE ratio of 26.30 and a beta of 3.67. The company’s fifty day moving average is $334.21 and its 200 day moving average is $313.48. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results 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 net margin of 41.99% and a return on equity of 15.70%. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the business posted $0.28 earnings per share. The company’s revenue was up 55.1% on a year-over-year basis. Research analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Ratings Changes

COIN has been the topic of several recent research reports. Rothschild & Co Redburn upgraded Coinbase Global from a “neutral” rating to a “buy” rating and raised their price target for the stock from $325.00 to $417.00 in a research report on Friday, October 3rd. Monness Crespi & Hardt raised Coinbase Global from a “neutral” rating to a “buy” rating and set a $375.00 price objective for the company in a research note on Monday. Rothschild Redb raised shares of Coinbase Global from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Barclays lowered their price target 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. Finally, Needham & Company LLC reissued a “buy” rating and issued a $400.00 price target on shares of Coinbase Global 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 assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Coinbase Global currently has an average rating of “Moderate Buy” and an average price target of $399.94.

Hedge Funds Weigh In On Coinbase Global

A number of institutional investors have recently bought and sold shares of the stock. Evelyn Partners Investment Management Europe Ltd boosted its position in Coinbase Global by 92.3% during the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock valued at $29,000 after acquiring an additional 36 shares in the last quarter. REAP Financial Group LLC purchased a new position in shares of Coinbase Global in the 3rd quarter valued at approximately $25,000. Cullen Frost Bankers Inc. bought a new stake in shares of Coinbase Global during the second quarter valued at approximately $30,000. Salomon & Ludwin LLC grew its stake in Coinbase Global by 4,400.0% in the third quarter. Salomon & Ludwin LLC now owns 90 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 88 shares during the period. Finally, City State Bank bought a new position in Coinbase Global in the second quarter worth $33,000. 68.84% of the stock is owned by institutional investors.

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.