McElhenny Sheffield Capital Management LLC Buys Shares of 1,016 Coinbase Global, Inc. (NASDAQ:COIN)

McElhenny Sheffield Capital Management LLC purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,016 shares of the cryptocurrency exchange’s stock, valued at approximately $252,000.

A number of other large investors have also modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new stake in Coinbase Global in the 3rd quarter valued at approximately $25,000. ORG Wealth Partners LLC acquired a new position in shares of Coinbase Global during the third quarter valued at $32,000. Brown Brothers Harriman & Co. increased its holdings in shares of Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after purchasing an additional 204 shares during the period. Abich Financial Wealth Management LLC raised its stake in shares of Coinbase Global by 548.5% during the second quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock valued at $48,000 after purchasing an additional 181 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in Coinbase Global in the third quarter worth about $55,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Performance

COIN opened at $295.48 on Friday. The stock has a 50-day moving average of $291.21 and a 200-day moving average of $231.26. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a 52-week low of $114.51 and a 52-week high of $349.75. The company has a market cap of $73.97 billion, a PE ratio of 50.42 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the firm earned ($0.01) earnings per share. The firm’s quarterly revenue was up 78.8% compared to the same quarter last year. As a group, equities research analysts forecast that Coinbase Global, Inc. will post 4.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on COIN shares. Bank of America upped their target price on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a research note on Wednesday, October 9th. Barclays boosted their price target on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. Monness Crespi & Hardt raised their price objective 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, The Goldman Sachs Group dropped their target price on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. 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 stock. Based on data from MarketBeat.com, Coinbase Global has an average rating of “Hold” and an average target price of $282.83.

Insider Activity at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $203.30, for a total transaction of $304,950.00. Following the sale, the chief operating officer now directly owns 175,101 shares of the company’s stock, valued at $35,598,033.30. This represents a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $209.98, for a total transaction of $2,099,800.00. Following the completion of the transaction, the insider now owns 74,956 shares of the company’s stock, valued at $15,739,260.88. This trade represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 347,033 shares of company stock valued at $102,613,277 in the last ninety days. 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.