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

Axxcess Wealth Management LLC boosted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 51.4% during the third quarter, HoldingsChannel reports. The fund owned 5,055 shares of the cryptocurrency exchange’s stock after purchasing an additional 1,716 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Coinbase Global were worth $901,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV grew its holdings in Coinbase Global by 9.4% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock worth $106,000 after acquiring an additional 51 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Coinbase Global by 0.4% in the 2nd quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock valued at $2,777,000 after purchasing an additional 55 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Coinbase Global by 75.0% in the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 57 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Coinbase Global by 12.1% in the 2nd quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock valued at $118,000 after purchasing an additional 57 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its stake in shares of Coinbase Global by 3.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange’s stock valued at $446,000 after purchasing an additional 61 shares during the last quarter. 68.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on COIN shares. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a research note on Thursday, October 31st. Mizuho upped their price objective on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. B. Riley assumed coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price on the stock. Barclays boosted their target price on shares of Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC boosted their target price on shares of Coinbase Global from $260.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $246.28.

Coinbase Global Stock Performance

COIN opened at $319.13 on Wednesday. Coinbase Global, Inc. has a 1-year low of $88.62 and a 1-year high of $334.86. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The company has a market cap of $79.89 billion, a price-to-earnings ratio of 54.03 and a beta of 3.34. The company’s fifty day moving average price is $187.74 and its two-hundred day moving average price is $209.65.

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

Insider Transactions at Coinbase Global

In other news, Director Frederick R. Wilson sold 40,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $300.00, for a total value of $12,000,000.00. Following the completion of the sale, the director now owns 50,000 shares in the company, valued at $15,000,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Alesia J. Haas sold 5,250 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the completion of the transaction, the chief financial officer now owns 169,786 shares in the company, valued at approximately $33,150,716.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frederick R. Wilson sold 40,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $300.00, for a total transaction of $12,000,000.00. Following the transaction, the director now owns 50,000 shares of the company’s stock, valued at approximately $15,000,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 135,822 shares of company stock worth $30,921,194 in the last quarter. 23.43% of the stock is currently owned by corporate insiders.

About Coinbase Global

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.