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 $5,497,933 were sold by Armstrong Brian on Apr 15 ’24. At $238.26 per share, Armstrong Brian sold 23,075 shares. The insider’s holdings dropped to 526 shares worth approximately $0.11 million following the completion of this transaction.
Also, HAAS ALESIA J sold 4,200 shares, netting a total of over 1,039,666 in proceeds. Following the sale of shares at $247.54 each, the insider now holds 192,622 shares.
Before that, Choi Emilie had sold 1,500 shares from its account. In a trade valued at $372,000, the President & COO traded Coinbase Global Inc shares for $248.00 each. Upon closing the transaction, the insider’s holdings decreased to 1,500 shares, worth approximately $46.96 million.
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 drop of approximately -17.08%. Over the course of the year, Coinbase Global Inc shares have jumped approximately 25.39%. 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 $219.49, while a 200-day SMA reached $132.31. Nevertheless, trading volume fell to 9.36 million shares from 9.44 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 211.54, which, if violated, would cause prices to drop to 204.99. In the upper region, resistance lies at 226.34. The next price resistance is at 234.59. RSI (Relative Strength Index) is 43.39 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -24.09, which suggests the price will decrease in the coming days. Percent R is at 80.35%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
