McElhenny Sheffield Capital Management LLC Invests $252,000 in Coinbase Global, Inc. (NASDAQ:COIN)

McElhenny Sheffield Capital Management LLC purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,016 shares of the cryptocurrency exchange's stock, valued at approximately $252,000.

Other institutional investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its holdings in shares of Coinbase Global by 14.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 44,847 shares of the cryptocurrency exchange's stock valued at $9,966,000 after purchasing an additional 5,767 shares in the last quarter. Wealth Alliance acquired a new position in Coinbase Global in the 2nd quarter valued at about $230,000. Mercer Global Advisors Inc. ADV lifted its stake in shares of Coinbase Global by 26.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 12,118 shares of the cryptocurrency exchange's stock valued at $2,697,000 after buying an additional 2,565 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Coinbase Global by 6.6% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,570 shares of the cryptocurrency exchange's stock worth $571,000 after purchasing an additional 160 shares during the last quarter. Finally, Amalgamated Bank grew its position in shares of Coinbase Global by 32.0% in the second quarter. Amalgamated Bank now owns 12,935 shares of the cryptocurrency exchange's stock valued at $2,875,000 after purchasing an additional 3,133 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on COIN shares. The Goldman Sachs Group reduced their target price on Coinbase Global from $397.00 to $340.00 and set a "neutral" rating on the stock in a research report on Friday, January 10th. Bank of America raised their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Mizuho upped their price target on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an "underperform" rating in a research report on Thursday, October 31st. Monness Crespi & Hardt increased their price target on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Finally, Keefe, Bruyette & Woods dropped their price objective on Coinbase Global from $275.00 to $255.00 and set a "market perform" rating for the company in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $282.83.

Coinbase Global Stock Up 4.9 %

Shares of NASDAQ COIN traded up $13.85 during trading on Friday, reaching $295.48. 11,250,894 shares of the stock were exchanged, compared to its average volume of 6,726,179. Coinbase Global, Inc. has a twelve month low of $114.51 and a twelve month high of $349.75. The company has a market capitalization of $73.97 billion, a price-to-earnings ratio of 50.42 and a beta of 3.59. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The business's 50-day moving average price is $291.21 and its 200 day moving average price is $231.31.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). The business had revenue of $1.21 billion for 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 revenue for the quarter was up 78.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. As a group, equities analysts forecast that Coinbase Global, Inc. will post 4.69 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $209.98, for a total value of $2,099,800.00. Following the completion of the transaction, the insider now directly owns 74,956 shares in the company, valued at $15,739,260.88. This trade represents a 11.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Alesia J. Haas sold 5,700 shares of Coinbase Global stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the transaction, the chief financial officer now directly owns 144,470 shares in the company, valued at approximately $38,554,708.90. The trade was a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 347,033 shares of company stock worth $102,613,277. 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.