Bryce Point Capital LLC Sells 3,519 Shares of Coinbase Global, Inc. $COIN

Bryce Point Capital LLC trimmed its position in Coinbase Global, Inc. (NASDAQ:COIN) by 62.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,086 shares of the cryptocurrency exchange’s stock after selling 3,519 shares during the period. Bryce Point Capital LLC’s holdings in Coinbase Global were worth $731,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. DAVENPORT & Co LLC raised its position in shares of Coinbase Global by 6.6% during the first quarter. DAVENPORT & Co LLC now owns 3,083 shares of the cryptocurrency exchange’s stock worth $531,000 after purchasing an additional 191 shares during the period. Mutual Advisors LLC increased its stake in Coinbase Global by 35.3% during the 1st quarter. Mutual Advisors LLC now owns 3,893 shares of the cryptocurrency exchange’s stock valued at $670,000 after purchasing an additional 1,015 shares in the last quarter. D.A. Davidson & CO. increased its stake in Coinbase Global by 79.6% during the 1st quarter. D.A. Davidson & CO. now owns 14,757 shares of the cryptocurrency exchange’s stock valued at $2,542,000 after purchasing an additional 6,539 shares in the last quarter. Silver Oak Securities Incorporated acquired a new position in Coinbase Global during the first quarter worth $254,000. Finally, OneDigital Investment Advisors LLC raised its holdings in Coinbase Global by 47.0% during the first quarter. OneDigital Investment Advisors LLC now owns 2,488 shares of the cryptocurrency exchange’s stock worth $429,000 after buying an additional 796 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $330.42 on Tuesday. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The stock’s 50 day moving average price is $333.92 and its 200-day moving average price is $308.52. The company has a market capitalization of $84.90 billion, a PE ratio of 28.58 and a beta of 3.67. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the business earned $0.28 EPS. The company’s revenue was up 55.1% compared to the same quarter last year. On average, equities analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $355.47, for a total value of $8,886,750.00. Following the transaction, the chief executive officer owned 526 shares in the company, valued at $186,977.22. The trade was a 97.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lawrence J. Brock sold 5,903 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $311.37, for a total value of $1,838,017.11. Following the completion of the transaction, the insider owned 478 shares in the company, valued at approximately $148,834.86. The trade was a 92.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 180,657 shares of company stock worth $59,552,326 over the last 90 days. 23.43% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on COIN. JPMorgan Chase & Co. reduced their price objective on shares of Coinbase Global from $404.00 to $399.00 and set an “overweight” rating for the company in a report on Friday. China Renaissance reduced their price objective on shares of Coinbase Global from $481.00 to $444.60 and set a “buy” rating for the company in a report on Tuesday, October 28th. Rothschild & Co Redburn raised Coinbase Global from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $325.00 to $417.00 in a report on Friday, October 3rd. Compass Point decreased their price objective on Coinbase Global from $277.00 to $266.00 in a report on Friday. Finally, Citigroup boosted their price objective on Coinbase Global from $270.00 to $505.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $398.91.

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.