Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Coinbase Global Inc shares valued at $3,510,510 were sold by Grewal Paul on Aug 26 ’24. At $206.96 per share, Grewal Paul sold 16,962 shares. The insider’s holdings dropped to 75,556 shares worth approximately $14.37 million following the completion of this transaction.
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Also, Brock Lawrence J sold 15,610 shares, netting a total of over 3,243,394 in proceeds. Following the sale of shares at $207.78 each, the insider now holds 18,525 shares.
Before that, Jones Jennifer N. had sold 2,918 shares from its account. In a trade valued at $586,771, the Chief Accounting Officer traded Coinbase Global Inc shares for $201.09 each. Upon closing the transaction, the insider’s holdings decreased to 2,918 shares, worth approximately $0.32 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 drop of approximately -7.77%. Over the course of the year, Coinbase Global Inc shares have jumped approximately 9.36%. 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 $218.41, while a 200-day SMA reached $196.06. Nevertheless, trading volume fell to 4.94 million shares from 5.99 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 186.12, which, if violated, would cause prices to drop to 182.05. In the upper region, resistance lies at 195.88. The next price resistance is at 201.57. RSI (Relative Strength Index) is 41.46 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.12, which suggests the price will decrease in the coming days. Percent R is at 89.79%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
