Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III Sells 20,624 Shares

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Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III sold 20,624 shares of Coinbase Global stock in a transaction that occurred on Wednesday, October 6th. The stock was sold at an average price of $250.09, for a total transaction of $5,157,856.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

  • On Friday, September 3rd, Frederick Ernest Ehrsam III sold 1,835 shares of Coinbase Global stock. The stock was sold at an average price of $276.35, for a total transaction of $507,102.25.
  • On Wednesday, September 1st, Frederick Ernest Ehrsam III sold 42,160 shares of Coinbase Global stock. The stock was sold at an average price of $268.90, for a total transaction of $11,336,824.00.
  • On Monday, August 16th, Frederick Ernest Ehrsam III sold 10,312 shares of Coinbase Global stock. The stock was sold at an average price of $257.93, for a total transaction of $2,659,774.16.

COIN traded down $3.45 on Friday, hitting $248.14. 2,869,957 shares of the stock were exchanged, compared to its average volume of 5,418,396. Coinbase Global, Inc. has a 12 month low of $208.00 and a 12 month high of $429.54. The company has a 50-day moving average of $250.22. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.30.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Monday, August 9th. The cryptocurrency exchange reported $6.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.26 by $4.16. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.83 billion. The firm’s revenue for the quarter was up 1040.2% compared to the same quarter last year. Sell-side analysts anticipate that Coinbase Global, Inc. will post 13.7 EPS for the current fiscal year.

Several research analysts recently weighed in on the stock. Redburn Partners started coverage on shares of Coinbase Global in a research note on Thursday, August 5th. They set a “buy” rating on the stock. DA Davidson started coverage on shares of Coinbase Global in a research note on Monday, August 9th. They issued a “buy” rating and a $400.00 price target on the stock. Canaccord Genuity lifted their price target on shares of Coinbase Global from $285.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, August 11th. Bank of America started coverage on shares of Coinbase Global in a research note on Friday, August 13th. They issued a “neutral” rating and a $273.00 price target on the stock. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Coinbase Global from $265.00 to $275.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $354.63.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Crewe Advisors LLC bought a new stake in Coinbase Global during the second quarter worth about $25,000. Front Row Advisors LLC bought a new position in shares of Coinbase Global in the second quarter worth about $28,000. South State Corp bought a new position in shares of Coinbase Global in the second quarter worth about $30,000. Global Wealth Management Investment Advisory Inc. bought a new position in shares of Coinbase Global in the second quarter worth about $32,000. Finally, Gemmer Asset Management LLC bought a new position in shares of Coinbase Global in the second quarter worth about $33,000. 20.26% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Company Profile

Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy. The company provides primary financial account for the cryptoeconomy, a platform to invest, store, spend, earn, and use crypto assets; an online marketplace for hedge funds, money managers, and corporations; and a platform with technology and services to developers, merchants, and asset issuers that enables them to build applications that leverage crypto protocols.

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