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 $4,196,390 were sold by Ehrsam Frederick Ernest III on Apr 08 ’24. At $256.19 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, Armstrong Brian sold 23,075 shares, netting a total of over 5,914,180 in proceeds. Following the sale of shares at $256.30 each, the insider now holds 526 shares.
Before that, Ehrsam Frederick Ernest III had sold 16,380 shares from its account. In a trade valued at $3,985,236, the Director traded Coinbase Global Inc shares for $243.30 each. Upon closing the transaction, the insider’s holdings decreased to 16,380 shares, worth approximately $0.0.
As published in a research note from BofA Securities on April 10, 2024, Coinbase Global Inc [COIN] has been retained to an Underperform and the price target has been revised to $110. Analysts at Barclays resumed the stock at ‘”an Underweight”‘ outlook in a report released in early April. As of April 04, 2024, Oppenheimer has reiterated its “an Outperform” rating for COIN. Earlier on April 03, 2024, Keefe Bruyette resumed its rating. Their recommendation was “a Mkt perform” for COIN stock.
Analyzing COIN Stock Performance
During the last five days, there has been a surge of approximately 5.37%. Over the course of the year, Coinbase Global Inc shares have jumped approximately 51.22%. 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 $209.57, while a 200-day SMA reached $128.53. Nevertheless, trading volume fell to 8.59 million shares from 8.42 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 252.11, which, if violated, would cause prices to drop to 241.22. In the upper region, resistance lies at 269.10. The next price resistance is at 275.20. RSI (Relative Strength Index) is 58.42 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.24, which suggests the price will decrease in the coming days. Percent R is at 41.47%, 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.
