PFG Investments LLC Increases Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

PFG Investments LLC raised its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 38.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,150 shares of the cryptocurrency exchange’s stock after buying an additional 322 shares during the period. PFG Investments LLC’s holdings in Coinbase Global were worth $256,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. boosted its position in Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 100 shares during the period. Concord Wealth Partners lifted its position in shares of Coinbase Global by 322.2% in the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 87 shares during the period. Mather Group LLC. purchased a new stake in shares of Coinbase Global in the 1st quarter worth about $32,000. Crewe Advisors LLC lifted its position in shares of Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after purchasing an additional 104 shares during the period. Finally, Lynx Investment Advisory purchased a new stake in shares of Coinbase Global in the 2nd quarter worth about $29,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Up 0.1 %

NASDAQ:COIN opened at $163.05 on Friday. The firm has a market cap of $40.51 billion, a P/E ratio of 32.54 and a beta of 3.36. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a fifty-two week low of $69.63 and a fifty-two week high of $283.48. The firm has a 50-day simple moving average of $204.20 and a two-hundred day simple moving average of $223.08.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The firm’s revenue for the quarter was up 104.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.42) earnings per share. Analysts predict that Coinbase Global, Inc. will post 3.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on COIN. HC Wainwright dropped their target price on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. The Goldman Sachs Group dropped their target price on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and raised their target price for the stock from $260.00 to $345.00 in a research report on Tuesday, July 23rd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research report on Friday, August 2nd. Finally, Bank of America lowered their price target on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Coinbase Global has a consensus rating of “Hold” and an average target price of $246.06.

Insider Buying and Selling at Coinbase Global

In other news, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $220.31, for a total value of $5,083,653.25. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at $115,883.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $220.31, for a total value of $5,083,653.25. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at $115,883.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $219.45, for a total transaction of $2,194,500.00. Following the completion of the sale, the insider now owns 71,195 shares of the company’s stock, valued at $15,623,742.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,062 shares of company stock worth $22,872,039. 23.43% of the stock is owned by corporate insiders.

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.