Coinbase Global Inc. [COIN] stock for 337,898 USD was acquired by Lutke Tobias

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Coinbase Global Inc. shares valued at $337,898 were purchased by Lutke Tobias on Sep 13. At $75.39 per share, Lutke Tobias acquired 4,482 shares. The insider’s holdings grew to 54,583 shares worth approximately $3.69 million following the completion of this transaction.

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Also, Lutke Tobias purchased 5,894 shares, netting a total of over 365,428 in proceeds. Following the buying of shares at $62.00 each, the insider now holds 50,101 shares.

Before that, Lutke Tobias had added 5,577 shares to its account. In a trade valued at $378,957, the Director bought Coinbase Global Inc. shares for $67.95 each. Upon closing the transaction, the insider’s holdings increased to 5,577 shares, worth approximately $2.99 million.

As published in a research note from Daiwa Securities on September 09, 2022, Coinbase Global Inc. [COIN] has been rated up from an Outperform to a Buy and the price target has been revised to $100. This represents a 32.36% premium over Wednesday’s closing price. Analysts at Barclays started covering the stock with ‘”an Equal weight”‘ outlook in a report released in late August. As of August 10, 2022, Keefe Bruyette has decreased its “Mkt perform” rating to a “an Underperform” for COIN. Earlier on August 08, 2022, Daiwa Securities downgraded its rating. Their new recommendation was “an Outperform” for COIN stock which previously was a “a Buy”.

Analyzing COIN’s Price Performance

On Wednesday, Coinbase Global Inc. [NASDAQ: COIN] plunged -0.44% to $67.64. The stock’s lowest price that day was $67.4301, but it reached a high of $72.24 in the same session. During the last five days, there has been a drop of approximately -14.05%. Over the course of the year, Coinbase Global Inc. shares have dropped approximately -73.20%. Shares of the company reached a 52-week high of $258.81 on 01/04/22 and a 52-week low of $40.83 on 05/12/22. A 50-day SMA is recorded $72.85, while a 200-day SMA reached $134.82. Nevertheless, trading volume fell to 12.2 million shares from 7.97 million shares the previous day.

Support And Resistance Levels for Coinbase Global Inc. (COIN)

According to the 24-hour chart, there is a support level at 65.97, which, if violated, would cause prices to drop to 64.29. In the upper region, resistance lies at 70.78. The next price resistance is at 73.91. RSI (Relative Strength Index) is 43.92 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.57, which suggests the price will decrease in the coming days. Percent R is at 74.46%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Coinbase Global Inc. subject to short interest?

Stocks of Coinbase Global Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 1.62 million shares to 33.06 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 31.44 million shares. A jump of 4.9% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.49 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.49.

Which companies own the most shares of Coinbase Global Inc. (COIN)?

According to The Vanguard Group, Inc. filings, the company currently owns 10,565,898 shares, which is about 5.98% of the total COIN shares outstanding. The investor’s shares have appreciated by 4,575,188 from its previous 13-F filing of 5990710.0 shares. With the completion of the buy transaction, ARK Investment Management LLC’s stake is now worth $597,941,830. A total of 3,542,900 shares of Coinbase Global Inc. were bought by BlackRock Fund Advisors during the quarter, and 375,601 were bought by Morgan Stanley Investment Managem. In its current portfolio, Renaissance Technologies LLC holds 4,253,200 shares valued at $284.11 million.


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