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Unusual Call Option Trade in Coinbase Global Worth $442.71K
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On May 2, 2023 at 11:21:20 ET an unusually large $442.71K block of Call contracts in Coinbase Global Inc – (COIN) was bought, with a strike price of $55.00 / share, expiring in 45 day(s) (on June 16, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.23 sigmas above the mean, placing it in the 89.62th 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 886 funds or institutions reporting positions in Coinbase Global Inc -. This is a decrease of 2 owner(s) or 0.23% in the last quarter. Average portfolio weight of all funds dedicated to COIN is 0.81%, a decrease of 6.11%. Total shares owned by institutions increased in the last three months by 8.04% to 129,830K shares. The put/call ratio of COIN is 1.40, indicating a bearish outlook.
Analyst Price Forecast Suggests 48.78% Upside
As of April 24, 2023, the average one-year price target for Coinbase Global Inc – is $74.60. The forecasts range from a low of $30.30 to a high of $210.00. The average price target represents an increase of 48.78% from its latest reported closing price of $50.14.
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 8.62%. The projected annual non-GAAP EPS is -$5.96.
What are Other Shareholders Doing?
Mn Services Vermogensbeheer B.V. holds 59K shares representing 0.02% ownership of the company. No change in the last quarter.
Russell Investments Group holds 6K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 10K shares, representing a decrease of 56.47%. The firm decreased its portfolio allocation in COIN by 67.11% over the last quarter.
PACIFIC SELECT FUND – PD Mid-Cap Index Portfolio Class P holds 7K shares representing 0.00% ownership of the company. No change in the last quarter.
LCIAX – Siit Large Cap Index Fund – holds 7K shares representing 0.00% ownership of the company. No change in the last quarter.
QUAL – iShares Edge MSCI USA Quality Factor ETF holds 1,044K shares representing 0.45% ownership of the company. In it’s prior filing, the firm reported owning 1,102K shares, representing a decrease of 5.52%. The firm increased its portfolio allocation in COIN by 14.13% 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
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