On March 3, 2023 at 11:35:19 ET an unusually large $498.65K block of Put contracts in Coinbase Global, Inc. (COIN) was bought, with a strike price of $60.00 / share, expiring in 7 days (on March 10, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.49 sigmas above the mean, placing it in the 92.85 percentile of all recent large trades made in COIN options.

This trade was first picked up on Fintel’s real time Options Flow tool, where all large block option trades are tracked.

Analyst Price Forecast Suggests 0.39% Downside

As of March 3, 2023, the average one-year price target for Coinbase Global, Inc. is $63.45. The forecasts range from a low of $30.30 to a high of $210.00. The average price target represents a decrease of 0.39% from its latest reported closing price of $63.70.

The projected annual revenue for Coinbase Global, Inc. is $3,421MM, an increase of 8.62%. The projected annual EPS is -$5.96.

What is the Fund Sentiment?

There are 894 funds or institutions reporting positions in Coinbase Global, Inc.. This is a decrease of 51 owner(s) or 5.40% in the last quarter. Average portfolio weight of all funds dedicated to COIN is 0.87%, an increase of 1.90%. Total shares owned by institutions increased in the last three months by 6.16% to 124,764K shares. The put/call ratio of COIN is 1.31, indicating a bearish outlook.

What are large shareholders doing?

AH Equity Partners III, L.L.C. holds 10,864K shares representing 4.69% ownership of the company. No change in the last quarter.

ARK Investment Management holds 9,189K shares representing 3.97% ownership of the company. In it’s prior filing, the firm reported owning 7,717K shares, representing an increase of 16.02%. The firm decreased its portfolio allocation in COIN by 18.76% over the last quarter.

Sumitomo Mitsui Trust Holdings holds 7,310K shares representing 3.16% ownership of the company. In it’s prior filing, the firm reported owning 5,535K shares, representing an increase of 24.29%. The firm decreased its portfolio allocation in COIN by 30.81% over the last quarter.

Nikko Asset Management Americas holds 7,000K shares representing 3.02% ownership of the company. In it’s prior filing, the firm reported owning 5,199K shares, representing an increase of 25.73%. The firm decreased its portfolio allocation in COIN by 99.92% over the last quarter.

ARKK – ARK Innovation ETF holds 4,842K shares representing 2.09% ownership of the company. In it’s prior filing, the firm reported owning 4,994K shares, representing a decrease of 3.14%. The firm increased its portfolio allocation in COIN by 24.14% over the last quarter.

Coinbase Global Background Information
(This description is provided by the company.)

Coinbase is building the cryptoeconomy – a more fair, accessible, efficient, and transparent financial system enabled by crypto. The company started in 2012 with the radical idea that anyone, anywhere, should be able to easily and securely send and receive Bitcoin. Today, Coinbase offers a trusted and easy-to-use platform for accessing the broader cryptoeconomy.

This article originally appeared on Fintel