Axxcess Wealth Management LLC Sells 2,000 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Axxcess Wealth Management LLC decreased its position in Coinbase Global, Inc. (NASDAQ:COIN) by 21.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 7,177 shares of the cryptocurrency exchange’s stock after selling 2,000 shares during the period. Axxcess Wealth Management LLC’s holdings in Coinbase Global were worth $1,248,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Signature Resources Capital Management LLC acquired a new position in shares of Coinbase Global during the 4th quarter worth approximately $39,000. Merit Financial Group LLC bought a new stake in Coinbase Global in the 4th quarter valued at $368,000. Malaga Cove Capital LLC bought a new stake in shares of Coinbase Global during the 4th quarter valued at $337,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of Coinbase Global by 50.1% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,229 shares of the cryptocurrency exchange’s stock valued at $213,000 after acquiring an additional 410 shares during the period. Finally, JFG Wealth Management LLC bought a new stake in shares of Coinbase Global during the 4th quarter valued at $226,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

COIN has been the subject of a number of recent analyst reports. Mizuho upped their target price on Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a research report on Friday, April 12th. Piper Sandler upped their price objective on Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. upped their price objective on Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Raymond James upgraded Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. Finally, Sanford C. Bernstein upped their price objective on Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $192.60.

Insider Buying and Selling

In related news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $215.00, for a total transaction of $322,500.00. Following the completion of the sale, the chief operating officer now owns 213,851 shares of the company’s stock, valued at $45,977,965. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total transaction of $9,833,424.90. Following the completion of the sale, the director now directly owns 4,662 shares of the company’s stock, valued at $558,181.26. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $215.00, for a total transaction of $322,500.00. Following the completion of the sale, the chief operating officer now owns 213,851 shares in the company, valued at approximately $45,977,965. The disclosure for this sale can be found here. Insiders sold 420,597 shares of company stock valued at $86,053,862 over the last 90 days. Company insiders own 33.16% of the company’s stock.

Coinbase Global Trading Up 0.9 %

NASDAQ COIN opened at $225.17 on Monday. The business has a 50 day simple moving average of $236.37 and a 200 day simple moving average of $167.06. Coinbase Global, Inc. has a one year low of $46.43 and a one year high of $283.48. The stock has a market capitalization of $54.55 billion, a P/E ratio of 44.56 and a beta of 3.46. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping the consensus estimate of ($0.09) by $1.13. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The business had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. During the same quarter last year, the firm posted ($2.46) earnings per share. The firm’s revenue was up 51.6% on a year-over-year basis. Research analysts expect that Coinbase Global, Inc. will post 2.71 earnings per share 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.