Unicorn
September 8, 2024
Unicorn News: The Latest in Digital Assets - September 08, 2024
Barclays has upgraded Coinbase Global to 'Equal Weight' with a new price target of $169.00. This comes amid significant institutional investments and notable insider transactions, reflecting growing confidence in the cryptocurrency exchange.
() Introduction
() Coinbase Global Receives Upgrade to 'Equal Weight' by Barclays Amidst Other Institutional Investments
On September 8, 2024, Barclays upgraded Coinbase Global from an 'underweight' to an 'equal weight' rating, setting a new price target of $169.00, down from $206.00, indicating a potential upside of 14.69%. This upgrade is supported by significant institutional investments, with CIBC Asset Management Inc increasing its stake by 31.2%, Crewe Advisors LLC boosting its position by 547.4%, and the Arizona State Retirement System raising its stake by 12.9%. Additionally, notable insider transactions occurred on September 3, 2024, with CEO Brian Armstrong selling 23,075 shares and COO Emilie Choi selling 8,000 shares, totaling over $5.4 million. These developments reflect growing institutional confidence and strategic insider actions within the cryptocurrency exchange.
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