Axxcess Wealth Management LLC Has $556,000 Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Axxcess Wealth Management LLC raised its position in Coinbase Global, Inc. (NASDAQ:COIN) by 21.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,829 shares of the cryptocurrency exchange’s stock after acquiring an additional 2,063 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Coinbase Global were worth $556,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Cibc World Market Inc. raised its position in shares of Coinbase Global by 1.5% in the second quarter. Cibc World Market Inc. now owns 7,629 shares of the cryptocurrency exchange’s stock valued at $359,000 after purchasing an additional 115 shares during the period. Cetera Advisor Networks LLC increased its position in Coinbase Global by 1.2% during the second quarter. Cetera Advisor Networks LLC now owns 9,913 shares of the cryptocurrency exchange’s stock worth $466,000 after acquiring an additional 121 shares during the period. Los Angeles Capital Management LLC increased its position in Coinbase Global by 0.5% during the first quarter. Los Angeles Capital Management LLC now owns 23,681 shares of the cryptocurrency exchange’s stock worth $4,496,000 after acquiring an additional 126 shares during the period. DAVENPORT & Co LLC increased its holdings in Coinbase Global by 14.5% in the 1st quarter. DAVENPORT & Co LLC now owns 1,186 shares of the cryptocurrency exchange’s stock valued at $225,000 after buying an additional 150 shares during the period. Finally, WASHINGTON TRUST Co increased its holdings in Coinbase Global by 100.0% in the 1st quarter. WASHINGTON TRUST Co now owns 300 shares of the cryptocurrency exchange’s stock valued at $56,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 49.31% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $45.57 on Thursday. The company has a fifty day moving average of $62.64 and a 200-day moving average of $65.46. The firm has a market capitalization of $10.34 billion, a P/E ratio of -7.51 and a beta of 2.50. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.60. Coinbase Global, Inc. has a twelve month low of $40.61 and a twelve month high of $331.70.

Coinbase Global (NASDAQ:COINGet Rating) last announced its quarterly earnings results on Thursday, November 3rd. The cryptocurrency exchange reported ($2.43) EPS for the quarter, missing analysts’ consensus estimates of ($2.23) by ($0.20). The business had revenue of $590.34 million for the quarter, compared to the consensus estimate of $642.76 million. Coinbase Global had a negative net margin of 24.25% and a negative return on equity of 20.19%. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post -11.42 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on COIN. JPMorgan Chase & Co. raised their price target on shares of Coinbase Global from $60.00 to $66.00 and gave the company a “neutral” rating in a research note on Friday, November 4th. BTIG Research cut their target price on shares of Coinbase Global from $220.00 to $110.00 in a research report on Friday, November 4th. The Goldman Sachs Group cut their target price on shares of Coinbase Global from $49.00 to $41.00 and set a “sell” rating on the stock in a research report on Monday, November 14th. Bank of America downgraded shares of Coinbase Global from a “buy” rating to a “neutral” rating and cut their target price for the stock from $77.00 to $50.00 in a research report on Friday, November 18th. Finally, Compass Point cut their target price on shares of Coinbase Global from $95.00 to $75.00 in a research report on Wednesday, October 26th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $89.17.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 103,859 shares of the business’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $42.44, for a total transaction of $4,407,775.96. Following the completion of the sale, the chief financial officer now owns 92,317 shares in the company, valued at approximately $3,917,933.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coinbase Global news, CFO Alesia J. Haas sold 103,859 shares of Coinbase Global stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $42.44, for a total transaction of $4,407,775.96. Following the transaction, the chief financial officer now directly owns 92,317 shares of the company’s stock, valued at approximately $3,917,933.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tobias Lutke acquired 4,482 shares of the business’s stock in a transaction on Tuesday, September 13th. The shares were purchased at an average cost of $75.39 per share, for a total transaction of $337,897.98. Following the completion of the acquisition, the director now directly owns 54,583 shares in the company, valued at $4,115,012.37. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 77,242 shares of company stock worth $4,856,505 and sold 148,457 shares worth $6,657,299. 36.10% of the stock is currently owned by company insiders.

About Coinbase Global

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Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in 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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Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

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