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

Mount Yale Investment Advisors LLC lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 6.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,378 shares of the cryptocurrency exchange’s stock after purchasing an additional 83 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Coinbase Global were worth $342,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in the company. Banco Santander S.A. boosted its position in Coinbase Global by 12.7% during the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after acquiring an additional 16,737 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of Coinbase Global by 135.1% during the 3rd quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after purchasing an additional 1,540 shares during the period. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Coinbase Global in the third quarter valued at $29,756,000. Lindbrook Capital LLC increased its stake in Coinbase Global by 30.2% during the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after purchasing an additional 6,963 shares during the period. Finally, Sanctuary Advisors LLC purchased a new position in Coinbase Global in the 2nd quarter valued at approximately $2,908,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $291.00 on Thursday. The business’s fifty day moving average price is $288.15 and its 200 day moving average price is $235.21. The stock has a market capitalization of $72.85 billion, a P/E ratio of 49.66 and a beta of 3.59. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a twelve month low of $114.51 and a twelve month high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Coinbase Global’s quarterly revenue was up 78.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.01) EPS. As a group, research analysts anticipate that Coinbase Global, Inc. will post 4.81 earnings per share for the current year.

Analyst Ratings Changes

COIN has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods dropped their price objective on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a research report on Monday, January 13th. Barclays upped their price objective on Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. HC Wainwright reaffirmed a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a research note on Tuesday, October 29th. Monness Crespi & Hardt lifted their price target on shares of Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Oppenheimer lowered their target price on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $289.06.

Insider Buying and Selling at Coinbase Global

In other news, insider Lawrence J. Brock sold 4,635 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total value of $1,158,750.00. Following the completion of the sale, the insider now directly owns 18,525 shares in the company, valued at approximately $4,631,250. The trade was a 20.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $298.31, for a total value of $447,465.00. Following the sale, the chief operating officer now directly owns 177,576 shares in the company, valued at approximately $52,972,696.56. This represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 376,205 shares of company stock valued at $112,487,737 over the last 90 days. 23.43% of the stock is owned by corporate insiders.

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.