Axxcess Wealth Management LLC Grows Position in Coinbase Global, Inc. (NASDAQ:COIN)

Axxcess Wealth Management LLC grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 21.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,829 shares of the cryptocurrency exchange’s stock after purchasing 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 quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. United Capital Financial Advisers LLC lifted its stake in Coinbase Global by 8.0% in the second quarter. United Capital Financial Advisers LLC now owns 9,988 shares of the cryptocurrency exchange’s stock worth $470,000 after acquiring an additional 742 shares during the period. Rhumbline Advisers lifted its stake in Coinbase Global by 2,034.1% in the second quarter. Rhumbline Advisers now owns 156,860 shares of the cryptocurrency exchange’s stock worth $7,376,000 after acquiring an additional 149,510 shares during the period. Operose Advisors LLC purchased a new stake in Coinbase Global in the second quarter worth $94,000. Cetera Advisor Networks LLC lifted its stake in Coinbase Global by 1.2% in 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. Finally, Bridgewater Associates LP purchased a new stake in Coinbase Global in the second quarter worth $834,000. Hedge funds and other institutional investors own 49.31% of the company’s stock.

Coinbase Global Trading Up 5.0 %

Shares of NASDAQ:COIN opened at $45.57 on Thursday. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of -7.51 and a beta of 2.50. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.05 and a current ratio of 1.05. The stock’s 50-day simple moving average is $62.64 and its two-hundred day simple moving average is $65.46. Coinbase Global, Inc. has a 52-week low of $40.61 and a 52-week high of $331.70.

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

Insiders Place Their Bets

In other news, CEO Brian Armstrong sold 14,866 shares of Coinbase Global stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $42.00, for a total transaction of $624,372.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Brian Armstrong sold 14,866 shares of Coinbase Global stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $42.00, for a total transaction of $624,372.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tobias Lutke acquired 5,577 shares of the stock in a transaction dated Tuesday, August 30th. The shares were bought at an average cost of $67.95 per share, for a total transaction of $378,957.15. Following the completion of the transaction, the director now owns 44,207 shares in the company, valued at $3,003,865.65. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 77,242 shares of company stock valued at $4,856,505 and have sold 148,457 shares valued at $6,657,299. Insiders own 36.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on COIN. Cowen dropped their price target on Coinbase Global from $85.00 to $75.00 in a research note on Friday, November 4th. Compass Point decreased their price objective on Coinbase Global from $95.00 to $75.00 in a report on Wednesday, October 26th. Barclays decreased their price objective on Coinbase Global from $55.00 to $44.00 and set an “equal weight” rating for the company in a report on Tuesday. Wells Fargo & Company started coverage on Coinbase Global in a report on Thursday, September 29th. They issued an “underweight” rating and a $57.00 price objective for the company. Finally, Needham & Company LLC decreased their price objective on Coinbase Global from $89.00 to $73.00 and set a “buy” rating for the company in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $89.17.

Coinbase Global Company Profile

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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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