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 $3,985,236 were sold by Ehrsam Frederick Ernest III on Apr 02 ’24. At $243.30 per share, Ehrsam Frederick Ernest III sold 16,380 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
Also, Choi Emilie sold 8,000 shares, netting a total of over 2,062,894 in proceeds. Following the sale of shares at $257.86 each, the insider now holds 216,851 shares.
Before that, Choi Emilie had sold 1,500 shares from its account. In a trade valued at $390,000, the President & COO traded Coinbase Global Inc shares for $260.00 each. Upon closing the transaction, the insider’s holdings decreased to 1,500 shares, worth approximately $56.13 million.
As published in a research note from Oppenheimer on April 04, 2024, Coinbase Global Inc [COIN] has been retained to an Outperform and the price target has been revised to $276. Analysts at Keefe Bruyette resumed the stock at ‘”a Mkt perform”‘ outlook in a report released in early April. As of March 12, 2024, Raymond James has increased its “an Underperform” rating to a “Mkt perform” for COIN. Earlier on March 08, 2024, Goldman upgraded its rating. Their new recommendation was “a Neutral” for COIN stock which previously was a “a Sell”.
Analyzing COIN Stock Performance
During the last five days, there has been a drop of approximately -2.76%. Over the course of the year, Coinbase Global Inc shares have jumped approximately 43.52%. 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 $197.09, while a 200-day SMA reached $123.74. Nevertheless, trading volume fell to 8.04 million shares from 6.67 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 245.55, which, if violated, would cause prices to drop to 241.48. In the upper region, resistance lies at 257.59. The next price resistance is at 265.56. RSI (Relative Strength Index) is 55.54 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.85, which suggests the price will decrease in the coming days. Percent R is at 50.31%, 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.
