Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC raised its position in Coinbase Global, Inc. (NASDAQ:COIN) by 6.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,378 shares of the cryptocurrency exchange’s stock after purchasing an additional 83 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Coinbase Global were worth $342,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in COIN. Geode Capital Management LLC lifted its position in Coinbase Global by 10.1% in the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after purchasing an additional 314,388 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Coinbase Global by 2.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after purchasing an additional 71,398 shares during the period. Clear Street Derivatives LLC purchased a new stake in Coinbase Global during the third quarter valued at about $409,919,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Coinbase Global by 6.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock worth $163,752,000 after buying an additional 52,856 shares during the period. Finally, Ribbit Management Company LLC raised its holdings in shares of Coinbase Global by 4.7% during the third quarter. Ribbit Management Company LLC now owns 394,100 shares of the cryptocurrency exchange’s stock valued at $70,217,000 after acquiring an additional 17,650 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on COIN shares. Barclays raised their price objective on Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. HC Wainwright reissued a “buy” rating and issued a $295.00 price target on shares of Coinbase Global in a report on Tuesday, October 29th. Needham & Company LLC upped their target price on Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Piper Sandler upped their price objective on Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $289.06.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN opened at $291.00 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global, Inc. has a fifty-two week low of $114.51 and a fifty-two week high of $349.75. The firm’s 50 day simple moving average is $288.15 and its 200 day simple moving average is $235.21. The company has a market capitalization of $72.85 billion, a price-to-earnings ratio of 49.66 and a beta of 3.59.

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

Insider Buying and Selling

In other Coinbase Global news, Director Frederick R. Wilson sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $254.89, for a total transaction of $2,548,900.00. Following the completion of the sale, the director now owns 90,000 shares of the company’s stock, valued at $22,940,100. This trade represents a 10.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Lawrence J. Brock sold 4,635 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total transaction of $1,158,750.00. Following the sale, the insider now owns 18,525 shares of the company’s stock, valued at approximately $4,631,250. This represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 376,205 shares of company stock worth $112,487,737. 23.43% of the stock is owned by 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.