Frederick Ernest Ehrsam III Sells 15,228 Shares of Coinbase Global, Inc. (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 15,228 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $280.51, for a total transaction of $4,271,606.28. Following the completion of the transaction, the director now owns 10,417 shares in the company, valued at approximately $2,922,072.67. This represents a 59.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 stock was 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 value 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 value 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 shares were sold at an average price of $325.14, for a total value 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 transaction of $8,211,622.86.

Coinbase Global Trading Up 1.5 %

Shares of COIN stock opened at $274.49 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a fifty-two week low of $125.81 and a fifty-two week high of $349.75. The stock has a 50 day simple moving average of $285.22 and a two-hundred day simple moving average of $236.89. The company has a market cap of $68.72 billion, a P/E ratio of 46.84 and a beta of 3.61.

Institutional Investors Weigh In On Coinbase Global

A number of large investors have recently bought and sold shares of the stock. Clear Street Derivatives LLC bought a new position in shares of Coinbase Global during the 3rd quarter worth about $409,919,000. Proficio Capital Partners LLC raised its position in shares of Coinbase Global by 30,664.4% during the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock worth $103,888,000 after purchasing an additional 417,036 shares during the period. Geode Capital Management LLC grew its position in Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after purchasing an additional 314,388 shares during the period. Azora Capital LP grew its holdings in shares of Coinbase Global by 214.1% during the third quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after buying an additional 220,078 shares during the last quarter. Finally, Holocene Advisors LP bought a new stake in Coinbase Global during the 3rd quarter worth approximately $38,535,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on COIN. Barclays upped their target price on Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. Needham & Company LLC reduced their price objective on Coinbase Global from $420.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday. Bank of America boosted their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Monness Crespi & Hardt upped their price objective on Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, HC Wainwright reiterated a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a research report on Tuesday, October 29th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $284.06.

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.