Axxcess Wealth Management LLC Buys 1,716 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Axxcess Wealth Management LLC grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 51.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,055 shares of the cryptocurrency exchange’s stock after buying an additional 1,716 shares during the period. Axxcess Wealth Management LLC’s holdings in Coinbase Global were worth $901,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COIN. Vanguard Group Inc. raised its position in shares of Coinbase Global by 18.4% during the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after purchasing an additional 2,624,989 shares during the period. Cowen AND Company LLC raised its position in shares of Coinbase Global by 1.5% during the second quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock worth $330,895,000 after purchasing an additional 22,071 shares during the period. Renaissance Technologies LLC raised its position in Coinbase Global by 185.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after buying an additional 691,288 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Coinbase Global by 1,186.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock valued at $139,854,000 after buying an additional 486,512 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Coinbase Global by 1,136.7% in the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock valued at $105,389,000 after buying an additional 435,886 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $295.00 target price on shares of Coinbase Global in a research report on Tuesday, October 29th. JMP Securities reissued a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research report on Wednesday, October 9th. Compass Point lowered their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. B. Riley began coverage on Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target on the stock. Finally, Mizuho boosted their price target on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $246.28.

Coinbase Global Stock Performance

COIN opened at $319.13 on Wednesday. The business has a fifty day simple moving average of $187.74 and a 200 day simple moving average of $209.65. The company has a market capitalization of $79.89 billion, a PE ratio of 54.03 and a beta of 3.34. Coinbase Global, Inc. has a 1 year low of $88.62 and a 1 year high of $334.86. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.01) EPS. Research analysts expect that Coinbase Global, Inc. will post 4.27 EPS for the current year.

Insider Activity

In other news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $162.24, for a total value of $243,360.00. Following the completion of the transaction, the chief operating officer now directly owns 187,601 shares in the company, valued at approximately $30,436,386.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Paul Grewal sold 16,962 shares of Coinbase Global stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the sale, the insider now directly owns 75,556 shares of the company’s stock, valued at approximately $15,637,069.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $162.24, for a total transaction of $243,360.00. Following the sale, the chief operating officer now directly owns 187,601 shares in the company, valued at $30,436,386.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 135,822 shares of company stock worth $30,921,194. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global Company Profile

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.