Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Coinbase Global Inc shares valued at $2,826,785 were sold by Grewal Paul on Mar 25 ’24. At $275.60 per share, Grewal Paul sold 10,257 shares. The insider’s holdings dropped to 66,122 shares worth approximately $16.97 million following the completion of this transaction.
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Also, Ehrsam Frederick Ernest III sold 16,380 shares, netting a total of over 4,182,213 in proceeds. Following the sale of shares at $255.32 each, the insider now holds 0 shares.
Before that, Rajaram Gokul had sold 1,145 shares from its account. In a trade valued at $297,700, the Director traded Coinbase Global Inc shares for $260.00 each. Upon closing the transaction, the insider’s holdings decreased to 1,145 shares, worth approximately $1.24 million.
As published in a research note from Raymond James on March 12, 2024, Coinbase Global Inc [COIN] has been rated up from an Underperform to a Mkt perform. Analysts at Goldman upgraded the stock from ‘”a Sell”‘ to ‘”a Neutral”‘ outlook in a report released in early March. As of February 16, 2024, Keefe Bruyette has increased its “an Underperform” rating to a “Mkt perform” for COIN. Earlier on February 15, 2024, JP Morgan upgraded its rating. Their new recommendation was “a Neutral” for COIN stock which previously was a “an Underweight”.
Analyzing COIN Stock Performance
During the last five days, there has been a drop of approximately -0.07%. Over the course of the year, Coinbase Global Inc shares have jumped approximately 47.60%. Shares of the company reached a 52-week high of $283.48 on 03/25/24 and a 52-week low of $114.51 on 02/07/24. A 50-day SMA is recorded $184.51, while a 200-day SMA reached $118.75. Nevertheless, trading volume fell to 11.04 million shares from 10.32 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 248.23, which, if violated, would cause prices to drop to 239.76. In the upper region, resistance lies at 270.89. The next price resistance is at 285.07. RSI (Relative Strength Index) is 60.21 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 14.74, which suggests the price will increase in the coming days. Percent R is at 39.78%, indicating low 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 steep in short interest on Mar 15, 2024 dropping by -4.51 million shares to 11.31 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 15.82 million shares. A decline of -39.88% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 0.62 of the overall float, the days-to-cover ratio (short ratio) decline to 0.62.
