Bryce Point Capital LLC Purchases New Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Bryce Point Capital LLC acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, Holdings Channel reports. The fund acquired 1,897 shares of the cryptocurrency exchange’s stock, valued at approximately $471,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Wingate Wealth Advisors Inc. bought a new position in shares of Coinbase Global during the fourth quarter worth about $27,000. Atala Financial Inc acquired a new stake in Coinbase Global during the fourth quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after buying an additional 106 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Coinbase Global in the 4th quarter worth approximately $50,000. Finally, Bogart Wealth LLC increased its holdings in shares of Coinbase Global by 252.5% in the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock valued at $52,000 after acquiring an additional 149 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Coinbase Global news, CEO Brian Armstrong sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $198.15, for a total value of $1,981,500.00. Following the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $104,226.90. This represents a 95.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alesia J. Haas sold 5,700 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total value of $1,521,159.00. Following the sale, the chief financial officer now owns 144,470 shares of the company’s stock, valued at $38,554,708.90. This trade represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 190,609 shares of company stock worth $52,238,258. 23.43% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

COIN has been the topic of several research analyst reports. Canaccord Genuity Group raised their price objective on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Mizuho lowered their price objective on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Needham & Company LLC reiterated a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a research note on Thursday, February 13th. Sanford C. Bernstein raised Coinbase Global to a “strong-buy” rating in a report on Tuesday, March 18th. Finally, The Goldman Sachs Group assumed coverage on Coinbase Global in a research note on Thursday, March 20th. They set a “neutral” rating and a $195.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $314.72.

Coinbase Global Price Performance

NASDAQ COIN opened at $160.55 on Friday. The firm has a market capitalization of $40.76 billion, a PE ratio of 16.90 and a beta of 3.66. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75. The company’s 50 day simple moving average is $226.99 and its 200 day simple moving average is $242.05.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. As a group, equities research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

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.