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

Mount Yale Investment Advisors LLC lessened its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 28.9% in the first quarter, Holdings Channel reports. The institutional investor owned 1,445 shares of the cryptocurrency exchange’s stock after selling 588 shares during the period. 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 institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fountainhead AM LLC increased its position in Coinbase Global by 2.1% during the 4th quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock valued at $688,000 after buying an additional 81 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Coinbase Global by 0.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock worth $2,561,000 after purchasing an additional 81 shares in the last quarter. Nilsine Partners LLC increased its holdings in shares of Coinbase Global by 1.2% in the 1st quarter. Nilsine Partners LLC now owns 6,738 shares of the cryptocurrency exchange’s stock worth $1,786,000 after purchasing an additional 81 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in shares of Coinbase Global by 2.6% in the 4th quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock worth $590,000 after purchasing an additional 86 shares in the last quarter. Finally, Concord Wealth Partners increased its holdings 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 in the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ COIN traded down $8.73 on Monday, hitting $234.20. 9,404,122 shares of the company traded hands, compared to its average volume of 11,362,530. The company has a market capitalization of $57.51 billion, a price-to-earnings ratio of 48.94 and a beta of 3.40. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average price is $235.30 and its 200-day moving average price is $212.30. Coinbase Global, Inc. has a 52-week low of $69.63 and a 52-week high of $283.48.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, beating the consensus estimate of $1.04 by $0.61. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.26 billion. Equities analysts expect that Coinbase Global, Inc. will post 4.95 earnings per share for the current year.

Insider Activity

In other news, CAO Jennifer N. Jones sold 15,580 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $239.28, for a total value of $3,727,982.40. Following the transaction, the chief accounting officer now directly owns 2,212 shares in the company, valued at $529,287.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Jennifer N. Jones sold 15,580 shares of Coinbase Global stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $239.28, for a total value of $3,727,982.40. Following the sale, the chief accounting officer now directly owns 2,212 shares of the company’s stock, valued at $529,287.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $215.00, for a total value of $322,500.00. Following the completion of the sale, the chief operating officer now directly owns 213,851 shares in the company, valued at $45,977,965. The disclosure for this sale can be found here. Insiders have sold 281,676 shares of company stock worth $61,236,478 over the last ninety days. Corporate insiders own 23.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $260.00 to $345.00 in a report on Tuesday, July 23rd. Canaccord Genuity Group lifted their target price on Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. The Goldman Sachs Group dropped their price target on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. HC Wainwright restated a “buy” rating and issued a $315.00 price target on shares of Coinbase Global in a research note on Tuesday, June 18th. Finally, JMP Securities restated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research note on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $237.50.

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.