Coinbase Global Inc’s filing revealed that its Chief Legal Officer Grewal Paul unloaded Company’s shares for reported $1.7 million on Sep 25 ’24. In the deal valued at $170.10 per share,10,000 shares were sold. As a result of this transaction, Grewal Paul now holds 74,956 shares worth roughly $13.35 million.
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Then, Rajaram Gokul sold 400 shares, generating $64,536 in total proceeds. Upon selling the shares at $161.34, the Director now owns 8,171 shares.
Before that, HAAS ALESIA J sold 6,500 shares. Coinbase Global Inc shares valued at $1,029,068 were divested by the Chief Financial Officer at a price of $158.32 per share. As a result of the transaction, HAAS ALESIA J now holds 175,036 shares, worth roughly $31.19 million.
Barclays upgraded its Coinbase Global Inc [COIN] rating to an Equal weight from a an Underweight in a research note published on September 06, 2024; the price target was decreased to $169 from $206. A number of analysts have revised their coverage, including Citigroup’s analysts, who increased its forecast for the stock in late July from “a Neutral” to “a Buy”. BofA Securities also remained covering COIN and has increased its forecast on May 17, 2024 with a “Neutral” recommendation from previously “an Underperform” rating. BofA Securities maintained its rating on April 10, 2024. It rated COIN as “an Underperform”.
Price Performance Review of COIN
On Monday, Coinbase Global Inc [NASDAQ:COIN] saw its stock fall -6.83% to $178.17. Over the last five days, the stock has gained 4.67%. Coinbase Global Inc shares have risen nearly 2.44% since the year began. Nevertheless, the stocks have risen 137.05% over the past one year. While a 52-week high of $283.48 was reached on 03/25/24, a 52-week low of $70.41 was recorded on 02/07/24. SMA at 50 days reached $191.66, while 200 days put it at $201.42.
Levels Of Support And Resistance For COIN Stock
The 24-hour chart illustrates a support level at 174.98, which if violated will result in even more drops to 171.78. On the upside, there is a resistance level at 183.39. A further resistance level may holdings at 188.60. The Relative Strength Index (RSI) on the 14-day chart is 50.67, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 14.09, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 33.60%. Stochastics %K at 86.23% indicates the stock is a selling.
How much short interest is there in Coinbase Global Inc?
A steep rise in short interest was recorded in Coinbase Global Inc stocks on 2024-09-13, dropping by -0.47 million shares to a total of 8.65 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 9.12 million shares. There was a decline of -5.41%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on April 08, 2024 when Barclays resumed its ‘”an Underweight”‘ rating for the stock and retained the price target to $179.
