Axxcess Wealth Management LLC decreased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 63.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,837 shares of the cryptocurrency exchange's stock after selling 3,218 shares during the quarter. Axxcess Wealth Management LLC's holdings in Coinbase Global were worth $456,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Wingate Wealth Advisors Inc. bought a new stake in Coinbase Global in the fourth quarter worth approximately $27,000. Atala Financial Inc bought a new stake in shares of Coinbase Global in the 4th quarter valued at $27,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock valued at $34,000 after acquiring an additional 106 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of Coinbase Global during the 3rd quarter valued at $25,000. Finally, Cullen Frost Bankers Inc. bought a new position in Coinbase Global during the fourth quarter worth $50,000. Institutional investors and hedge funds own 68.84% of the company's stock.
Insiders Place Their Bets
In other news, insider Paul Grewal sold 10,978 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the transaction, the insider now owns 83,313 shares in the company, valued at $17,656,524.09. This represents a 11.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian Armstrong sold 25,000 shares of the business's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $261.07, for a total value of $6,526,750.00. Following the sale, the chief executive officer now directly owns 526 shares of the company's stock, valued at $137,322.82. This represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 208,034 shares of company stock valued at $57,835,408. Insiders own 23.43% of the company's stock.
Analyst Ratings Changes
Several research firms have weighed in on COIN. Rosenblatt Securities started coverage on shares of Coinbase Global in a research note on Friday, March 7th. They issued a "buy" rating and a $305.00 price target for the company. Keefe, Bruyette & Woods lifted their price objective on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a "market perform" rating in a report on Tuesday, February 18th. JMP Securities lifted their price target on Coinbase Global from $400.00 to $475.00 and gave the stock a "market outperform" rating in a report on Friday, February 14th. Needham & Company LLC reissued a "buy" rating and set a $330.00 price objective on shares of Coinbase Global in a report on Thursday, February 13th. Finally, Piper Sandler lifted their target price on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $314.72.
Check Out Our Latest Stock Analysis on COIN
Coinbase Global Trading Up 0.5 %
Shares of Coinbase Global stock traded up $0.97 during midday trading on Tuesday, reaching $204.01. 3,177,471 shares of the company's stock traded hands, compared to its average volume of 9,204,843. The stock has a 50 day moving average of $246.30 and a 200-day moving average of $241.82. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75. The company has a market cap of $51.79 billion, a PE ratio of 21.44 and a beta of 3.66. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28.
Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. As a group, equities analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.
Coinbase Global Company Profile
(
Free Report)
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.
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