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

Bryce Point Capital LLC bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,897 shares of the cryptocurrency exchange’s stock, valued at approximately $471,000.

Other institutional investors also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. purchased a new stake in shares of Coinbase Global in the 4th quarter worth about $27,000. Atala Financial Inc acquired a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of 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 purchasing an additional 106 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Coinbase Global during the 4th quarter worth approximately $50,000. Finally, Bogart Wealth LLC lifted its stake in 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 buying an additional 149 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on COIN shares. Barclays boosted their price target on Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Canaccord Genuity Group boosted their target price on shares of Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 price target on shares of Coinbase Global in a research note on Thursday, February 13th. Bank of America cut their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Finally, JMP Securities raised their target price on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $314.72.

Insiders Place Their Bets

In other news, CEO Brian Armstrong sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $198.15, for a total value of $1,981,500.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $104,226.90. This represents a 95.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Grewal sold 10,978 shares of Coinbase Global stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the sale, the insider now directly owns 83,313 shares in the company, valued at $17,656,524.09. This trade represents a 11.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 190,609 shares of company stock worth $52,238,258 in the last 90 days. 23.43% of the stock is owned by company insiders.

Coinbase Global Stock Performance

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

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping analysts’ consensus estimates 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 expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

About Coinbase Global

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.