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 - Free Report) by 141.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,440 shares of the cryptocurrency exchange's stock after purchasing an additional 2,603 shares during the quarter. Axxcess Wealth Management LLC's holdings in Coinbase Global were worth $765,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its holdings in shares of Coinbase Global by 4.3% in the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange's stock valued at $239,000 after acquiring an additional 40 shares in the last quarter. IPG Investment Advisors LLC raised its holdings in shares of Coinbase Global by 2.0% in the fourth quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange's stock valued at $561,000 after acquiring an additional 45 shares in the last quarter. Vivaldi Capital Management LP raised its holdings in shares of Coinbase Global by 0.3% in the fourth quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange's stock valued at $3,437,000 after acquiring an additional 47 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Coinbase Global by 0.5% in the fourth quarter. MetLife Investment Management LLC now owns 11,061 shares of the cryptocurrency exchange's stock valued at $2,746,000 after acquiring an additional 55 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Coinbase Global by 2.3% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,630 shares of the cryptocurrency exchange's stock valued at $653,000 after acquiring an additional 60 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

NASDAQ COIN traded down $1.90 during trading hours on Friday, reaching $387.06. The stock had a trading volume of 16,560,793 shares, compared to its average volume of 10,940,417. The stock has a fifty day moving average of $282.06 and a 200 day moving average of $246.32. The stock has a market cap of $98.27 billion, a P/E ratio of 72.48, a price-to-earnings-growth ratio of 28.35 and a beta of 3.70. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $395.50. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.52 and a current ratio of 2.52.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). The firm had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. Coinbase Global's quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.53 EPS. Sell-side analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Activity at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $360.20, for a total value of $1,080,600.00. Following the sale, the chief financial officer owned 97,366 shares in the company, valued at approximately $35,071,233.20. This represents a 2.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul Grewal sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $348.64, for a total value of $3,486,400.00. Following the completion of the sale, the insider owned 82,328 shares in the company, valued at approximately $28,702,833.92. This represents a 10.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 685,915 shares of company stock worth $222,081,432 over the last quarter. Insiders own 17.65% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. HC Wainwright reissued a "sell" rating and set a $300.00 price target (down from $305.00) on shares of Coinbase Global in a research report on Thursday. William Blair assumed coverage on shares of Coinbase Global in a research report on Wednesday, June 11th. They set an "outperform" rating for the company. Compass Point raised shares of Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price target for the company in a research report on Monday, May 12th. Monness Crespi & Hardt raised shares of Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 price target for the company in a research report on Tuesday, May 13th. Finally, Barclays increased their price target on shares of Coinbase Global from $202.00 to $359.00 and gave the company an "equal weight" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $298.60.

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.