Coinbase Global, Inc. (NASDAQ:COIN) Director Sells $3,473,870.40 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $212.08, for a total transaction of $3,473,870.40. Following the sale, the director now directly owns 4,662 shares of the company's stock, valued at approximately $988,716.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, April 23rd, Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock. The shares were sold at an average price of $232.37, for a total transaction of $3,806,220.60.
• On Wednesday, April 17th, Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock. The shares were sold at an average price of $213.99, for a total transaction of $3,505,156.20.
• On Monday, April 8th, Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock. The stock was sold at an average price of $256.19, for a total value of $4,196,392.20.
• On Tuesday, April 2nd, Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock. The stock was sold at an average price of $243.30, for a total value of $3,985,254.00.
• On Tuesday, March 26th, Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock. The stock was 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 stock was 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 value 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 value of $1,624,710.00.

Coinbase Global Price Performance

Shares of NASDAQ:COIN traded down $9.53 on Friday, hitting $200.92. The stock had a trading volume of 7,400,103 shares, compared to its average volume of 12,980,114. The company has a market capitalization of $48.68 billion, a price-to-earnings ratio of 41.02 and a beta of 3.46. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02. The firm's 50 day moving average price is $237.68 and its 200-day moving average price is $169.71. Coinbase Global, Inc. has a twelve month low of $46.43 and a twelve month high of $283.48.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, beating analysts' consensus estimates of ($0.09) by $1.13. The firm had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The company's revenue for the quarter was up 51.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($2.46) earnings per share. On average, equities research analysts predict that Coinbase Global, Inc. will post 2.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Coinbase Global from $230.00 to $240.00 and gave the stock a "market perform" rating in a research note on Friday, May 3rd. Piper Sandler raised their price target on shares of Coinbase Global from $225.00 to $245.00 and gave the stock a "neutral" rating in a research report on Friday, April 12th. Bank of America upped their price objective on shares of Coinbase Global from $92.00 to $110.00 and gave the company an "underperform" rating in a research report on Wednesday, April 10th. Barclays increased their target price on shares of Coinbase Global from $179.00 to $204.00 and gave the company an "underweight" rating in a research note on Monday. Finally, HC Wainwright boosted their price target on Coinbase Global from $250.00 to $300.00 and gave the company a "buy" rating in a research note on Monday, April 29th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $200.63.

Institutional Investors Weigh In On Coinbase Global

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $202,936,000. a16z Perennial Management L.P. acquired a new stake in shares of Coinbase Global in the 4th quarter valued at $147,646,000. Morgan Stanley increased its stake in shares of Coinbase Global by 18.5% in the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange's stock valued at $246,250,000 after buying an additional 511,397 shares during the period. Hamilton Lane Advisors LLC bought a new stake in shares of Coinbase Global during the fourth quarter worth $88,015,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Coinbase Global by 142.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 733,180 shares of the cryptocurrency exchange's stock valued at $55,047,000 after acquiring an additional 430,546 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

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.

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