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 $99,883,468 were sold by Armstrong Brian on Nov 11 ’24. At $307.33 per share, Armstrong Brian sold 325,000 shares. The insider’s holdings dropped to 526 shares worth approximately $0.15 million following the completion of this transaction.
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Also, Choi Emilie sold 200,000 shares, netting a total of over 59,938,300 in proceeds. Following the sale of shares at $299.69 each, the insider now holds 167,101 shares.
Before that, HAAS ALESIA J had sold 20,000 shares from its account. In a trade valued at $6,000,000, the Chief Financial Officer traded Coinbase Global Inc shares for $300.00 each. Upon closing the transaction, the insider’s holdings decreased to 20,000 shares, worth approximately $41.77 million.
As published in their initiating research note from Monness Crespi & Hardt on October 28, 2024, Coinbase Global Inc [COIN] has been a Buy and the price target has been revised to $245. Analysts at B. Riley Securities started covering the stock with ‘”a Neutral”‘ outlook in a report released in late October. As of September 06, 2024, Barclays has increased its “an Underweight” rating to a “an Equal weight” for COIN. Earlier on July 23, 2024, Citigroup upgraded its rating. Their new recommendation was “a Buy” for COIN stock which previously was a “a Neutral”.
Analyzing COIN Stock Performance
During the last five days, there has been a surge of approximately 9.10%. Over the course of the year, Coinbase Global Inc shares have jumped approximately 60.33%. Shares of the company reached a 52-week high of $334.86 on 11/11/24 and a 52-week low of $114.51 on 02/07/24. A 50-day SMA is recorded $195.55, while a 200-day SMA reached $211.81. Nevertheless, trading volume fell to 17.17 million shares from 28.0 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 271.24, which, if violated, would cause prices to drop to 263.64. In the upper region, resistance lies at 289.50. The next price resistance is at 300.17. RSI (Relative Strength Index) is 62.71 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 52.99, which suggests the price will increase in the coming days. Percent R is at 35.35%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
