On May 12, 2023 at 15:47:35 ET an unusually large $470.84K block of Call contracts in Coinbase Global Inc – (COIN) was bought, with a strike price of $54.00 / share, expiring in 0 day(s) (on May 12, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.52 sigmas above the mean, placing it in the 94.53th 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 unusual option trades are highlighted.

What is the Fund Sentiment?

There are 898 funds or institutions reporting positions in Coinbase Global Inc -. This is an increase of 33 owner(s) or 3.82% in the last quarter. Average portfolio weight of all funds dedicated to COIN is 0.89%, an increase of 32.19%. Total shares owned by institutions increased in the last three months by 16.80% to 139,722K shares. The put/call ratio of COIN is 1.50, indicating a bearish outlook.

Analyst Price Forecast Suggests 19.93% Upside

As of May 11, 2023, the average one-year price target for Coinbase Global Inc – is 72.38. The forecasts range from a low of 27.27 to a high of $210.00. The average price target represents an increase of 19.93% from its latest reported closing price of 60.35.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Coinbase Global Inc – is 3,421MM, an increase of 25.75%. The projected annual non-GAAP EPS is -5.96.

What are Other Shareholders Doing?

ARK Investment Management holds 11,776K shares representing 5.02% ownership of the company. In it’s prior filing, the firm reported owning 9,189K shares, representing an increase of 21.97%. The firm increased its portfolio allocation in COIN by 94.05% over the last quarter.

AH Equity Partners III, L.L.C. holds 10,864K shares representing 4.63% ownership of the company. No change in the last quarter.

Sumitomo Mitsui Trust Holdings holds 8,611K shares representing 3.67% ownership of the company. In it’s prior filing, the firm reported owning 7,310K shares, representing an increase of 15.10%. The firm increased its portfolio allocation in COIN by 111.63% over the last quarter.

Nikko Asset Management Americas holds 8,299K shares representing 3.54% ownership of the company. In it’s prior filing, the firm reported owning 7,000K shares, representing an increase of 15.65%. The firm increased its portfolio allocation in COIN by 77.16% over the last quarter.

ARKK – ARK Innovation ETF holds 5,940K shares representing 2.53% 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.

See all Coinbase Global Inc – regulatory filings.

This article originally appeared on Fintel