Mount Yale Investment Advisors LLC Sells 588 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Mount Yale Investment Advisors LLC trimmed its position in Coinbase Global, Inc. (NASDAQ:COIN) by 28.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,445 shares of the cryptocurrency exchange’s stock after selling 588 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Coinbase Global were worth $383,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Coinbase Global by 18.4% in the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after purchasing an additional 2,624,989 shares during the period. Norges Bank acquired a new stake in Coinbase Global in the fourth quarter worth about $202,936,000. a16z Perennial Management L.P. acquired a new stake in Coinbase Global in the fourth quarter worth about $147,646,000. Charles Schwab Investment Management Inc. increased its position in Coinbase Global by 6.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 656,689 shares of the cryptocurrency exchange’s stock worth $114,211,000 after purchasing an additional 37,847 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in Coinbase Global by 1,186.6% in the first quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after purchasing an additional 486,512 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Stock Down 3.6 %

NASDAQ COIN traded down $8.73 during trading on Monday, hitting $234.20. The stock had a trading volume of 9,404,122 shares, compared to its average volume of 11,362,530. The company has a market capitalization of $57.51 billion, a PE ratio of 48.94 and a beta of 3.40. The company’s 50-day moving average price is $235.30 and its two-hundred day moving average price is $212.30. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02. Coinbase Global, Inc. has a 12 month low of $69.63 and a 12 month high of $283.48.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, beating the consensus estimate of $1.04 by $0.61. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. As a group, sell-side analysts forecast that Coinbase Global, Inc. will post 4.95 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. The Goldman Sachs Group lowered their price objective on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Keefe, Bruyette & Woods boosted their target price on Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a research report on Friday, May 3rd. Wedbush boosted their target price on Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $260.00 to $345.00 in a research report on Tuesday, July 23rd. Finally, JMP Securities restated a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a research report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Coinbase Global has an average rating of “Hold” and an average price target of $237.50.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $235.75, for a total transaction of $2,357,500.00. Following the sale, the insider now owns 71,195 shares in the company, valued at approximately $16,784,221.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $195.90, for a total transaction of $293,850.00. Following the sale, the chief operating officer now owns 204,436 shares in the company, valued at approximately $40,049,012.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $235.75, for a total value of $2,357,500.00. Following the sale, the insider now owns 71,195 shares in the company, valued at approximately $16,784,221.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 281,676 shares of company stock worth $61,236,478. Corporate insiders own 23.43% of the company’s stock.

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.