Coinbase Global, Inc. $COIN Stock Holdings Boosted by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lifted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 34.9% in the 2nd quarter, Holdings Channel reports. The fund owned 5,990 shares of the cryptocurrency exchange’s stock after buying an additional 1,550 shares during the period. Axxcess Wealth Management LLC’s holdings in Coinbase Global were worth $2,099,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Coinbase Global by 4.8% during the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock worth $3,323,084,000 after acquiring an additional 875,359 shares during the last quarter. ARK Investment Management LLC grew its position in shares of Coinbase Global by 1.1% during the first quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange’s stock worth $528,592,000 after acquiring an additional 34,462 shares during the last quarter. Groupama Asset Managment grew its position in shares of Coinbase Global by 100.0% during the first quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock worth $516,690,000 after acquiring an additional 1,500,000 shares during the last quarter. Amundi grew its position in shares of Coinbase Global by 44.1% during the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock worth $268,850,000 after acquiring an additional 481,786 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Coinbase Global by 0.6% during the first quarter. Northern Trust Corp now owns 1,302,433 shares of the cryptocurrency exchange’s stock worth $224,318,000 after acquiring an additional 7,675 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $336.30 on Thursday. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $86.41 billion, a price-to-earnings ratio of 32.52 and a beta of 3.68. The firm has a 50-day moving average of $327.37 and a two-hundred day moving average of $290.45.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the company posted $0.14 earnings per share. Coinbase Global’s revenue was up 3.3% compared to the same quarter last year. As a group, analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $361.32, for a total value of $9,033,000.00. Following the completion of the sale, the chief executive officer directly owned 526 shares of the company’s stock, valued at approximately $190,054.32. This represents a 97.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $345.88, for a total transaction of $3,458,800.00. Following the sale, the insider directly owned 82,328 shares of the company’s stock, valued at $28,475,608.64. This represents a 10.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 199,515 shares of company stock valued at $65,362,451 over the last 90 days. Insiders own 17.65% of the company’s stock.

Wall Street Analysts Forecast Growth

COIN has been the subject of a number of recent analyst reports. HC Wainwright reiterated a “sell” rating and issued a $300.00 target price on shares of Coinbase Global in a research report on Friday, August 1st. Erste Group Bank initiated coverage on shares of Coinbase Global in a research report on Wednesday, July 23rd. They issued a “buy” rating for the company. Piper Sandler reiterated a “neutral” rating and issued a $350.00 target price on shares of Coinbase Global in a research report on Thursday, July 31st. Compass Point reiterated a “sell” rating and issued a $248.00 target price (down previously from $330.00) on shares of Coinbase Global in a research report on Monday, August 4th. Finally, Williams Trading set a $405.00 target price on shares of Coinbase Global in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $367.94.

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.