Coinbase Global, Inc. (NASDAQ:COIN) Director Sells $3,505,156.20 in Stock

Posted by Jared Coughlin on Apr 19th, 2024

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $213.99, for a total transaction of $3,505,156.20. Following the completion of the sale, the director now owns 4,662 shares of the company’s stock, valued at $997,621.38. 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 Monday, April 8th, Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock. The shares were sold at an average price of $256.19, for a total transaction of $4,196,392.20.
On Tuesday, April 2nd, Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock. The shares were sold at an average price of $243.30, for a total transaction of $3,985,254.00.
On Tuesday, March 26th, Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock. The shares were sold at an average price of $274.97, for a total transaction of $4,504,008.60.
On Friday, March 15th, Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock. The shares were sold at an average price of $238.51, for a total transaction of $3,906,793.80.
On Tuesday, March 5th, Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock. The stock was sold at an average price of $226.32, for a total transaction of $3,707,121.60.
On Monday, February 26th, Frederick Ernest Ehrsam III sold 8,735 shares of Coinbase Global stock. The stock was sold at an average price of $186.00, for a total transaction of $1,624,710.00.
On Wednesday, February 7th, Frederick Ernest Ehrsam III sold 82,130 shares of Coinbase Global stock. The stock was sold at an average price of $119.73, for a total transaction of $9,833,424.90.
On Wednesday, January 31st, Frederick Ernest Ehrsam III sold 97,836 shares of Coinbase Global stock. The stock was sold at an average price of $131.57, for a total transaction of $12,872,282.52.
On Thursday, January 25th, Frederick Ernest Ehrsam III sold 81,530 shares of Coinbase Global stock. The shares were sold at an average price of $121.29, for a total transaction of $9,888,773.70.

Coinbase Global Stock Down 3.2 %

Shares of NASDAQ:COIN traded down $7.07 during midday trading on Friday, hitting $211.01. The stock had a trading volume of 9,339,256 shares, compared to its average volume of 13,922,040. Coinbase Global, Inc. has a 12 month low of $46.43 and a 12 month high of $283.48. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The business’s 50-day simple moving average is $223.31 and its 200-day simple moving average is $154.63. The company has a market cap of $51.12 billion, a P/E ratio of 824.44 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN – Get Free Report) last announced its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $1.13. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The business had revenue of $953.80 million during the quarter, compared to the consensus estimate of $826.10 million. During the same quarter last year, the firm posted ($2.46) EPS. The company’s quarterly revenue was up 51.6% on a year-over-year basis. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 2.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coinbase Global

Several hedge funds have recently added to or reduced their stakes in COIN. Fairfield Bush & CO. lifted its holdings in Coinbase Global by 18.4% during the 1st quarter. Fairfield Bush & CO. now owns 1,770 shares of the cryptocurrency exchange’s stock valued at $336,000 after purchasing an additional 275 shares during the last quarter. United Bank acquired a new stake in shares of Coinbase Global during the first quarter worth $286,000. Bank of New York Mellon Corp lifted its holdings in shares of Coinbase Global by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 70,553 shares of the cryptocurrency exchange’s stock worth $13,394,000 after buying an additional 1,844 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Coinbase Global by 269.2% during the first quarter. American Century Companies Inc. now owns 7,147 shares of the cryptocurrency exchange’s stock worth $1,357,000 after buying an additional 5,211 shares in the last quarter. Finally, Synovus Financial Corp lifted its holdings in shares of Coinbase Global by 26.6% during the first quarter. Synovus Financial Corp now owns 1,103 shares of the cryptocurrency exchange’s stock worth $209,000 after buying an additional 232 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on COIN. Sanford C. Bernstein upped their target price on shares of Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research report on Thursday. Barclays upped their target price on shares of Coinbase Global from $146.00 to $179.00 and gave the company an “underweight” rating in a research report on Monday, April 8th. Piper Sandler increased their price target on shares of Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Canaccord Genuity Group reiterated a “buy” rating and issued a $240.00 price target on shares of Coinbase Global in a research report on Thursday, March 28th. Finally, Raymond James upgraded shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $165.43.

Check Out Our Latest Research Report on COIN

Coinbase Global Company Profile

(Get Free Report)

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.