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Coinbase Global Inc (COIN) gets rating Reiterated from BofA Securities

Coinbase Global Inc’s filing revealed that its Director Ehrsam Frederick Ernest III unloaded Company’s shares for reported $3.47 million on May 08 ’24. In the deal valued at $212.08 per share,16,380 shares were sold. As a result of this transaction, Ehrsam Frederick Ernest III now holds 0 shares worth roughly $0.0.

Then, Armstrong Brian sold 23,075 shares, generating $5,171,892 in total proceeds. Upon selling the shares at $224.13, the Chairman and CEO now owns 526 shares.

Before that, Ehrsam Frederick Ernest III sold 16,380 shares. Coinbase Global Inc shares valued at $3,410,479 were divested by the Director at a price of $208.21 per share. As a result of the transaction, Ehrsam Frederick Ernest III now holds 0 shares, worth roughly $0.0.

BofA Securities reiterated its Coinbase Global Inc [COIN] rating to an Underperform in a research note published on April 10, 2024; the price target was $110. A number of analysts have revised their coverage, including Barclays’s analysts, who remained covering the stock and in early April has reiterated a ‘”an Underweight”‘ rating for it. Oppenheimer also remained covering COIN and reiterated its “an Outperform” recommendation on April 04, 2024. Keefe Bruyette maintained its rating on April 03, 2024. It rated COIN as “a Mkt perform”.

Price Performance Review of COIN

On Monday, Coinbase Global Inc [NASDAQ:COIN] saw its stock fall -0.70% to $199.51. Over the last five days, the stock has lost -12.08%. Coinbase Global Inc shares have risen nearly 14.71% since the year began. Nevertheless, the stocks have risen 230.59% over the past one year. While a 52-week high of $283.48 was reached on 03/25/24, a 52-week low of $46.43 was recorded on 02/07/24. SMA at 50 days reached $236.27, while 200 days put it at $142.76. A total of 7.33 million shares were traded, compared to the trading of 7.42 million shares in the previous session.

Levels Of Support And Resistance For COIN Stock

The 24-hour chart illustrates a support level at 195.88, which if violated will result in even more drops to 192.25. On the upside, there is a resistance level at 204.90. A further resistance level may holdings at 210.30. The Relative Strength Index (RSI) on the 14-day chart is 40.35, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -12.94, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 95.48%. Stochastics %K at 13.74% indicates the stock is a buying.

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