PFG Investments LLC Purchases 322 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

PFG Investments LLC raised its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 38.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,150 shares of the cryptocurrency exchange’s stock after acquiring an additional 322 shares during the quarter. PFG Investments LLC’s holdings in Coinbase Global were worth $256,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fifth Third Bancorp boosted its stake in Coinbase Global by 0.4% in the second quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock valued at $2,777,000 after acquiring an additional 55 shares during the last quarter. Versant Capital Management Inc boosted its stake in Coinbase Global by 75.0% in the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 57 shares during the last quarter. Larson Financial Group LLC boosted its stake in Coinbase Global by 12.1% in the second quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock valued at $118,000 after acquiring an additional 57 shares during the last quarter. Capital Advisors Wealth Management LLC boosted its stake in Coinbase Global by 4.6% in the second quarter. Capital Advisors Wealth Management LLC now owns 1,413 shares of the cryptocurrency exchange’s stock valued at $314,000 after acquiring an additional 62 shares during the last quarter. Finally, Concord Wealth Partners boosted its stake in Coinbase Global by 322.2% in the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 87 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COIN has been the topic of a number of recent research reports. The Goldman Sachs Group dropped their price target on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Compass Point dropped their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and upped their price target for the company from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Canaccord Genuity Group restated a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research note on Friday, August 2nd. Finally, Bank of America dropped their price target on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Coinbase Global has an average rating of “Hold” and a consensus price target of $246.06.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $163.05 on Friday. The company’s fifty day moving average price is $204.20 and its 200-day moving average price is $223.08. The firm has a market capitalization of $40.51 billion, a price-to-earnings ratio of 32.54 and a beta of 3.36. Coinbase Global, Inc. has a one year low of $69.63 and a one year high of $283.48. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03.

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

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $219.45, for a total transaction of $2,194,500.00. Following the transaction, the insider now owns 71,195 shares of the company’s stock, valued at approximately $15,623,742.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $219.45, for a total transaction of $2,194,500.00. Following the transaction, the insider now owns 71,195 shares of the company’s stock, valued at approximately $15,623,742.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $91,487.18. The disclosure for this sale can be found here. Insiders have sold 110,062 shares of company stock valued at $22,872,039 in the last quarter. Insiders own 23.43% of the company’s stock.

Coinbase Global 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.