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 $1,035,196 were purchased by HAAS ALESIA J on Aug 15 ’24. At $197.18 per share, HAAS ALESIA J acquired 5,250 shares.
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Also, Brian Armstrong purchased 23,075 shares, netting a total of over 4,521,777 in proceeds.
Before that, Armstrong Brian had sold 23,075 shares from its account. In a trade valued at $4,329,624, the Chairman and CEO traded Coinbase Global Inc shares for $187.63 each. Upon closing the transaction, the insider’s holdings decreased to 23,075 shares, worth approximately $0.1 million.
As published in a research note from Citigroup on July 23, 2024, Coinbase Global Inc [COIN] has been rated up from a Neutral to a Buy and the price target has been revised to $345 from $260. Analysts at BofA Securities upgraded the stock from ‘”an Underperform”‘ to ‘”a Neutral”‘ outlook in a report released in mid May. As of April 10, 2024, BofA Securities has reiterated its “an Underperform” rating for COIN. Earlier on April 08, 2024, Barclays resumed its rating. Their recommendation was “an Underweight” for COIN stock.
Analyzing COIN Stock Performance
During the last five days, there has been a surge of approximately 2.50%. Over the course of the year, Coinbase Global Inc shares have jumped approximately 13.34%. 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 $226.87, while a 200-day SMA reached $190.76. Nevertheless, trading volume fell to 5.96 million shares from 5.03 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 193.86, which, if violated, would cause prices to drop to 190.59. In the upper region, resistance lies at 202.73. The next price resistance is at 208.33. RSI (Relative Strength Index) is 42.12 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.42, which suggests the price will decrease in the coming days. Percent R is at 61.83%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.
