Circle Internet Group (NYSE:CRCL) Given New $89.00 Price Target at JPMorgan Chase & Co.

Circle Internet Group (NYSE:CRCL) had its target price lifted by JPMorgan Chase & Co. from $80.00 to $89.00 in a report released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

A number of other analysts also recently issued reports on the stock. Seaport Res Ptn upgraded shares of Circle Internet Group to a “strong-buy” rating in a report on Friday, June 20th. Canaccord Genuity Group reiterated a “buy” rating and issued a $247.00 price target on shares of Circle Internet Group in a report on Monday. Needham & Company LLC assumed coverage on shares of Circle Internet Group in a report on Wednesday, July 16th. They issued a “buy” rating on the stock. Barclays assumed coverage on shares of Circle Internet Group in a report on Monday, June 30th. They issued an “overweight” rating and a $215.00 price target on the stock. Finally, Compass Point downgraded shares of Circle Internet Group from a “neutral” rating to a “sell” rating and reduced their price target for the company from $205.00 to $130.00 in a report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Circle Internet Group currently has an average rating of “Hold” and a consensus target price of $173.82.

Circle Internet Group Stock Down 4.6%

Shares of CRCL stock opened at $135.12 on Tuesday. The company has a market cap of $30.07 billion and a P/E ratio of -10,678.05. The company’s fifty day moving average price is $183.03. Circle Internet Group has a one year low of $64.00 and a one year high of $298.99.

Insiders Place Their Bets

In other Circle Internet Group news, major shareholder Catalyst Group Vi L.P General sold 3,550,724 shares of Circle Internet Group stock in a transaction on Friday, June 6th. The shares were sold at an average price of $29.30, for a total value of $104,036,213.20. Following the completion of the transaction, the insider directly owned 20,120,769 shares of the company’s stock, valued at $589,538,531.70. This trade represents a 15.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Jeremy Fox-Geen sold 200,000 shares of Circle Internet Group stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $29.30, for a total transaction 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. This represents a 38.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,682,884 shares of company stock worth $195,808,501.

Institutional Trading of Circle Internet Group

Institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC bought a new stake in Circle Internet Group in the second quarter worth about $673,000. PFG Investments LLC bought a new stake in Circle Internet Group in the second quarter worth about $579,000. EWA LLC bought a new stake in Circle Internet Group in the second quarter worth about $279,000. Covenant Asset Management LLC bought a new stake in Circle Internet Group in the second quarter worth about $363,000. Finally, KG&L Capital Management LLC bought a new stake in Circle Internet Group in the second quarter worth about $528,000.

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.