Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Coinbase Global Inc shares valued at $2,194,476 were sold by Grewal Paul on Jun 25 ’24. At $219.45 per share, Grewal Paul sold 10,000 shares. The insider’s holdings dropped to 71,195 shares worth approximately $15.95 million following the completion of this transaction.
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Also, HAAS ALESIA J sold 4,350 shares, netting a total of over 1,040,087 in proceeds. Following the sale of shares at $239.10 each, the insider now holds 187,403 shares.
Before that, Choi Emilie had sold 1,500 shares from its account. In a trade valued at $369,240, the President & COO traded Coinbase Global Inc shares for $246.16 each. Upon closing the transaction, the insider’s holdings decreased to 1,500 shares, worth approximately $46.47 million.
As published in a research note from BofA Securities on May 17, 2024, Coinbase Global Inc [COIN] has been rated up from an Underperform to a Neutral and the price target has been revised to $217 from $110. Analysts at BofA Securities resumed the stock at ‘”an Underperform”‘ outlook in a report released in early April. As of April 08, 2024, Barclays has reiterated its “an Underweight” rating for COIN. Earlier on April 04, 2024, Oppenheimer resumed its rating. Their recommendation was “an Outperform” for COIN stock.
Analyzing COIN Stock Performance
During the last five days, there has been a drop of approximately -4.69%. Over the course of the year, Coinbase Global Inc shares have jumped approximately 28.79%. 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 $226.64, while a 200-day SMA reached $166.02. Nevertheless, trading volume fell to 5.62 million shares from 6.57 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 218.29, which, if violated, would cause prices to drop to 212.59. In the upper region, resistance lies at 227.73. The next price resistance is at 231.47. RSI (Relative Strength Index) is 46.41 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -15.60, which suggests the price will decrease in the coming days. Percent R is at 70.68%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
