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.
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) Coinbase Global Receives Upgrade to 'Equal Weight' by Barclays Amidst Other Institutional InvestmentsOn 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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