)n April 3, 2023 at 10:47:50 ET an unusually large $468.00K block of Call contracts in Coinbase Global, Inc. (COIN) was sold, with a strike price of $69.00 / share, expiring in 25 days (on April 28, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.37 sigmas above the mean, placing it in the 91.71 percentile of all recent large trades made in COIN options.
This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 8.42% Upside
As of March 30, 2023, the average one-year price target for Coinbase Global, Inc. is $73.26. The forecasts range from a low of $30.30 to a high of $210.00. The average price target represents an increase of 8.42% from its latest reported closing price of $67.57.
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The projected annual revenue for Coinbase Global, Inc. is $3,421MM, an increase of 8.62%. The projected annual non-GAAP EPS is -$5.96.
What is the Fund Sentiment?
There are 874 funds or institutions reporting positions in Coinbase Global, Inc.. This is a decrease of 30 owner(s) or 3.32% in the last quarter. Average portfolio weight of all funds dedicated to COIN is 0.79%, a decrease of 11.84%. Total shares owned by institutions increased in the last three months by 7.67% to 126,128K shares. The put/call ratio of COIN is 1.33, 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 30.16% 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 17.56% over the last quarter.
ARKK – ARK Innovation ETF holds 5,940K shares representing 2.57% ownership of the company. In it’s prior filing, the firm reported owning 4,842K shares, representing an increase of 18.48%. The firm increased its portfolio allocation in COIN by 8.42% 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
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