PFG Investments LLC Purchases 750 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

PFG Investments LLC raised its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 65.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,900 shares of the cryptocurrency exchange’s stock after acquiring an additional 750 shares during the period. PFG Investments LLC’s holdings in Coinbase Global were worth $339,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Fifth Third Bancorp boosted its holdings in shares of Coinbase Global by 0.4% during the second quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock worth $2,777,000 after acquiring an additional 55 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Coinbase Global by 75.0% during the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 57 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Coinbase Global by 12.1% during the second quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock worth $118,000 after acquiring an additional 57 shares during the period. Benjamin Edwards Inc. boosted its holdings in shares of Coinbase Global by 3.1% during the second quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange’s stock worth $446,000 after acquiring an additional 61 shares during the period. Finally, Capital Advisors Wealth Management LLC boosted its holdings in shares of Coinbase Global by 4.6% during the second quarter. Capital Advisors Wealth Management LLC now owns 1,413 shares of the cryptocurrency exchange’s stock worth $314,000 after acquiring an additional 62 shares during the period. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Up 1.6 %

Shares of NASDAQ:COIN opened at $219.66 on Wednesday. The company has a fifty day moving average of $181.83 and a 200-day moving average of $209.20. The company has a market capitalization of $53.94 billion, a PE ratio of 43.84 and a beta of 3.35. 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 52-week low of $71.88 and a 52-week high of $283.48.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.93). The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The firm’s quarterly revenue was up 104.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.42) earnings per share. On average, equities analysts predict that Coinbase Global, Inc. will post 3.92 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Barclays boosted their price target on Coinbase Global from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Monness Crespi & Hardt assumed coverage on Coinbase Global in a research note on Monday. They issued a “buy” rating and a $245.00 price target for the company. B. Riley assumed coverage on Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $295.00 price target on shares of Coinbase Global in a research note on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Coinbase Global in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $242.94.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $173.93, for a total value of $4,013,434.75. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at $91,487.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Coinbase Global news, insider Paul Grewal sold 16,962 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the sale, the insider now owns 75,556 shares of the company’s stock, valued at approximately $15,637,069.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 23,075 shares of the company’s 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 sale, the chief executive officer now directly owns 526 shares in the company, valued at $91,487.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,687 shares of company stock worth $14,908,594 over the last three months. Company 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.