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 $5,171,892 were sold by Armstrong Brian on May 03 ’24. At $224.13 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, Ehrsam Frederick Ernest III sold 16,380 shares, netting a total of over 3,410,479 in proceeds. Following the sale of shares at $208.21 each, the insider now holds 0 shares.
Before that, Choi Emilie had sold 8,000 shares from its account. In a trade valued at $1,666,798, the President & COO traded Coinbase Global Inc shares for $208.35 each. Upon closing the transaction, the insider’s holdings decreased to 8,000 shares, worth approximately $43.32 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 -8.04%. Over the course of the year, Coinbase Global Inc shares have jumped approximately 21.00%. 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 $236.44, while a 200-day SMA reached $141.72. Nevertheless, trading volume fell to 4.59 million shares from 4.62 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 205.76, which, if violated, would cause prices to drop to 201.06. In the upper region, resistance lies at 214.50. The next price resistance is at 218.54. RSI (Relative Strength Index) is 44.09 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -8.99, which suggests the price will decrease in the coming days. Percent R is at 69.98%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
