Robert W. Baird Initiates Coverage on Circle Internet Group (NYSE:CRCL)

Stock analysts at Robert W. Baird started coverage on shares of Circle Internet Group (NYSE:CRCL) in a research note issued to investors on Friday, MarketBeat reports. The firm set a “neutral” rating and a $210.00 price target on the stock. Robert W. Baird’s price target would indicate a potential upside of 12.45% from the stock’s previous close.

Several other equities analysts also recently weighed in on the company. Citigroup began coverage on Circle Internet Group in a report on Monday, June 30th. They set a “buy” rating and a $243.00 price target for the company. Deutsche Bank Aktiengesellschaft initiated coverage on Circle Internet Group in a research note on Monday, June 30th. They set a “hold” rating and a $155.00 price objective for the company. Wall Street Zen lowered shares of Circle Internet Group from a “hold” rating to a “sell” rating in a report on Friday, June 27th. Needham & Company LLC assumed coverage on shares of Circle Internet Group in a report on Monday, June 30th. They set a “buy” rating and a $250.00 price target on the stock. Finally, The Goldman Sachs Group assumed coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They issued a “neutral” rating and a $83.00 price target for the company. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $182.09.

Circle Internet Group Stock Down 8.0%

Shares of CRCL stock opened at $186.75 on Friday. The firm has a market cap of $41.56 billion and a PE ratio of -14,758.18. Circle Internet Group has a 1 year low of $64.00 and a 1 year high of $298.99.

Insider Activity at Circle Internet Group

In related news, Director Patrick Sean Neville sold 1,000,000 shares of the business’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $29.30, for a total value of $29,300,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jeremy Fox-Geen sold 200,000 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $29.30, for a total value of $5,860,000.00. Following the transaction, the chief financial officer directly owned 320,371 shares of the company’s stock, valued at approximately $9,386,870.30. The trade was a 38.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,682,884 shares of company stock valued at $195,808,501 in the last ninety days.

Hedge Funds Weigh In On Circle Internet Group

Several institutional investors have recently bought and sold shares of the business. Westbourne Investments Inc. bought a new position in shares of Circle Internet Group in the 2nd quarter valued at about $204,000. Brand Asset Management Group Inc. purchased a new stake in Circle Internet Group during the second quarter valued at approximately $272,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Circle Internet Group in the 2nd quarter valued at approximately $673,000. Baader Bank Aktiengesellschaft purchased a new position in shares of Circle Internet Group in the 2nd quarter worth approximately $1,083,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of Circle Internet Group during the 2nd quarter valued at approximately $18,397,000.

About Circle Internet Group

Founded in 2013, Circle’s mission is to raise global economic prosperity through the frictionless exchange of value. We intend to connect the world more deeply by building a new global economic system on the foundation of the internet, and to facilitate the creation of a world where everyone, everywhere can share value as easily as we can today share information, content, and communications.