Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC cut its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 15.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,339 shares of the cryptocurrency exchange’s stock after selling 596 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Coinbase Global were worth $742,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Salem Investment Counselors Inc. grew its position in Coinbase Global by 162.9% during the first quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock worth $49,000 after buying an additional 114 shares during the period. Intech Investment Management LLC increased its stake in Coinbase Global by 454.3% in the 1st quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock valued at $10,752,000 after purchasing an additional 33,240 shares in the last quarter. Paragon Capital Management Ltd raised its holdings in Coinbase Global by 58.6% during the first quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock worth $61,418,000 after purchasing an additional 85,573 shares during the last quarter. QRG Capital Management Inc. boosted its position in Coinbase Global by 130.5% during the second quarter. QRG Capital Management Inc. now owns 9,703 shares of the cryptocurrency exchange’s stock worth $2,156,000 after purchasing an additional 5,493 shares in the last quarter. Finally, Edgestream Partners L.P. grew its holdings in Coinbase Global by 93.5% in the first quarter. Edgestream Partners L.P. now owns 14,793 shares of the cryptocurrency exchange’s stock valued at $3,922,000 after purchasing an additional 7,148 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

COIN has been the subject of several research reports. Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price target on shares of Coinbase Global in a report on Monday, August 5th. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a research note on Friday, August 2nd. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research note on Friday, August 2nd. Finally, HC Wainwright dropped their price target on Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $246.06.

Insider Activity at Coinbase Global

In other Coinbase Global 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 transaction of $243,360.00. Following the completion of the sale, the chief operating officer now directly owns 187,601 shares in the company, valued at $30,436,386.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $162.24, for a total transaction of $243,360.00. Following the transaction, the chief operating officer now owns 187,601 shares in the company, valued at $30,436,386.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $173.93, for a total value of $4,013,434.75. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $91,487.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,562 shares of company stock worth $23,115,399. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Up 3.4 %

Shares of NASDAQ COIN opened at $168.24 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $41.31 billion, a PE ratio of 33.48 and a beta of 3.36. The firm has a fifty day moving average of $200.73 and a 200-day moving average of $222.38. Coinbase Global, Inc. has a 52-week low of $69.63 and a 52-week high of $283.48.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.93). The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The business’s revenue was up 104.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.42) earnings per share. On average, analysts anticipate that Coinbase Global, Inc. will post 3.96 EPS for the current year.

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.