Mount Yale Investment Advisors LLC Trims Position in Coinbase Global, Inc. (NASDAQ:COIN)

Mount Yale Investment Advisors LLC reduced its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 6.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,347 shares of the cryptocurrency exchange’s stock after selling 98 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Coinbase Global were worth $299,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in COIN. Salem Investment Counselors Inc. boosted its holdings in Coinbase Global by 162.9% in the first quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock valued at $49,000 after purchasing an additional 114 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of Coinbase Global by 454.3% in the first quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock worth $10,752,000 after buying an additional 33,240 shares during the last quarter. Paragon Capital Management Ltd grew its holdings in Coinbase Global by 58.6% during the first quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock worth $61,418,000 after acquiring an additional 85,573 shares during the period. QRG Capital Management Inc. raised its position in Coinbase Global by 130.5% during the second quarter. QRG Capital Management Inc. now owns 9,703 shares of the cryptocurrency exchange’s stock valued at $2,156,000 after acquiring an additional 5,493 shares in the last quarter. Finally, Edgestream Partners L.P. lifted its holdings in Coinbase Global by 93.5% in the first quarter. Edgestream Partners L.P. now owns 14,793 shares of the cryptocurrency exchange’s stock valued at $3,922,000 after acquiring an additional 7,148 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity

In related news, insider Paul Grewal sold 10,000 shares of the 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 completion of the transaction, the insider now directly owns 71,195 shares in the company, valued at $16,784,221.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $223.95, for a total value of $335,925.00. Following the transaction, the chief operating officer now owns 205,971 shares of the company’s stock, valued at $46,127,205.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Thursday, July 25th. The shares were 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 of the company’s stock, valued at $16,784,221.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,562 shares of company stock valued at $20,920,899. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Stock Up 0.9 %

Shares of COIN opened at $171.68 on Wednesday. Coinbase Global, Inc. has a 52-week low of $69.63 and a 52-week high of $283.48. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. The stock has a fifty day simple moving average of $195.80 and a two-hundred day simple moving average of $220.40. The company has a market capitalization of $42.16 billion, a PE ratio of 34.27 and a beta of 3.36.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data 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 firm 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%. Coinbase Global’s revenue for the quarter was up 104.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.42) earnings per share. As a group, equities analysts forecast that Coinbase Global, Inc. will post 3.96 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research note on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and set a $260.00 price target on shares of Coinbase Global in a research report on Monday, August 5th. Bank of America decreased their price objective 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. Compass Point dropped their target price on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group cut their price target on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $246.06.

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.