Coinbase Global, Inc. (NASDAQ:COIN) Director Buys $1,819,818.00 in Stock
Coinbase Global, Inc. (NASDAQ: CURRENCY) Director Frederick Ernest Ehrsam III acquired 30,030 shares of the company in a transaction on Tuesday, May 24. The shares were purchased at an average price of $60.60 per share, with a total value of $1,819,818.00. As a result of the purchase, the administrator now owns 1,121,844 shares of the company, valued at approximately $67,983,746.40. The purchase was disclosed in a filing with the SEC, accessible via the SEC website.
Frederick Ernest Ehrsam III also recently made the following trade(s):
- On Tuesday, May 17, Frederick Ernest Ehrsam III acquired 385,260 shares of Coinbase Global. The shares were purchased at an average price of $64.93 per share, with a total value of $25,014,931.80.
- On Friday, May 13, Frederick Ernest Ehrsam III acquired 706,554 shares of Coinbase Global. The shares were purchased at an average price of $70.77 per share, with a total value of $50,002,826.58.
NASDAQ: CURRENCY traded at $2.70 during Thursday trading hours, hitting $69.87. The stock had a trading volume of 11,976,423 shares, compared to an average volume of 7,591,469. The company has a 50-day simple moving average of $133.51 and a two-hundred-day simple moving average of 201 $.04. The company has a debt ratio of 0.52, a current ratio of 1.55 and a quick ratio of 1.55. Coinbase Global, Inc. has a 1-year low of $40.83 and a 1-year high of $368.90. The company has a market cap of $15.34 billion and a price-earnings ratio of 7.16.
Coinbase Global (NASDAQ: CURRENCY – Get a rating) last announced its quarterly results on Tuesday, May 10. The cryptocurrency exchange reported ($1.98) EPS for the quarter, missing the consensus estimate of $0.74 per ($2.72). Coinbase Global had a net margin of 33.63% and a return on equity of 42.39%. The company posted revenue of $1.17 billion in the quarter, versus a consensus estimate of $1.48 billion. In the same period a year earlier, the company had earned earnings per share of $3.05. The company’s revenue for the quarter was down 35.2% year over year. Equity research analysts expect Coinbase Global, Inc. to post earnings per share of -7.6 for the current year.
Hedge funds and other institutional investors have recently been buying and selling shares of the company. Westpac Banking Corp bought a new stake in shares of Coinbase Global during Q4 for a value of $449,000. Man Group plc increased its holdings of Coinbase Global shares by 101.9% during Q3. Man Group plc now owns 106,619 shares of the cryptocurrency exchange worth $24,254,000 after acquiring an additional 53,800 shares in the last quarter. Essex Investment Management Co. LLC increased its holdings of Coinbase Global shares by 121.8% during Q4. Essex Investment Management Co. LLC now owns 9,287 shares of the cryptocurrency exchange worth $2,344,000 after acquiring an additional 5,100 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings of Coinbase Global shares by 5.6% during Q4. Commonwealth Equity Services LLC now owns 53,958 shares of the cryptocurrency exchange worth $13,617,000 after acquiring 2,847 additional shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in Coinbase Global shares by 69.8% during Q4. Oppenheimer & Co. Inc. now owns 21,572 shares of the cryptocurrency exchange worth $5,444,000 after acquiring an additional 8,864 shares in the last quarter. 39.01% of the shares are held by institutional investors.
Several equity research analysts have recently released reports on the stock. Compass Point cut its price target on Coinbase Global shares from $325.00 to $200.00 and set a “neutral” rating for the company in a Monday, Feb. 28 research note. Canaccord Genuity Group reduced its price target on Coinbase Global shares from $275.00 to $120.00 in a Wednesday, May 11 research note. Zacks Investment Research upgraded Coinbase Global shares from a “sell” to a “hold” rating in a Tuesday, April 26 research note. Wedbush reduced its price target on Coinbase Global shares from $160.00 to $100.00 in a Wednesday, May 11 research note. Finally, Citigroup lowered its price target on Coinbase Global shares from $300.00 to $275.00 and set a “buy” rating for the company in a Tuesday, March 22 research note. One analyst rated the stock with a sell rating, five issued a hold rating and eighteen gave the company’s stock a buy rating. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $240.05.
Coinbase Global Company Profile (Get a rating)
Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and around the world. The company offers the cryptoeconomy’s leading financial account for retailers; a marketplace with a pool of liquidity to transact crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.
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