Brokerages Set Circle Internet Group, Inc. (NYSE:CRCL) Price Target at $173.00

Circle Internet Group, Inc. (NYSE:CRCL) has been given a consensus rating of “Hold” by the fourteen analysts that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $170.9091.

CRCL has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price objective on Circle Internet Group from $80.00 to $89.00 and gave the stock an “underweight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Circle Internet Group from $163.00 to $123.00 and set a “hold” rating for the company in a research report on Wednesday. Citigroup began coverage on shares of Circle Internet Group in a report on Monday, June 30th. They issued a “buy” rating and a $243.00 price target on the stock. The Goldman Sachs Group started coverage on shares of Circle Internet Group in a research note on Tuesday, August 12th. They set a “neutral” rating and a $83.00 price objective on the stock. Finally, Compass Point downgraded shares of Circle Internet Group from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $205.00 to $130.00 in a research report on Monday, July 21st.

Circle Internet Group Stock Performance

NYSE:CRCL opened at $131.76 on Tuesday. The firm has a market capitalization of $29.32 billion and a PE ratio of -10,412.52. Circle Internet Group has a one year low of $64.00 and a one year high of $298.99. The stock has a 50-day simple moving average of $183.93.

Insider Transactions at Circle Internet Group

In other Circle Internet Group news, President Heath Tarbert sold 31,925 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $127.08, for a total transaction of $4,057,029.00. Following the transaction, the president owned 605,870 shares of the company’s stock, valued at $76,993,959.60. This trade represents a 5.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeremy Allaire sold 357,812 shares of Circle Internet Group stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $127.08, for a total value of $45,470,748.96. The disclosure for this sale can be found here. Insiders sold 7,480,290 shares of company stock valued at $297,142,856 over the last 90 days.

Institutional Trading of Circle Internet Group

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