Circle Internet Group’s (CRCL) Buy Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Circle Internet Group (NYSE:CRCL) in a research note issued to investors on Thursday morning,Benzinga reports. Canaccord Genuity Group currently has a $247.00 target price on the stock.

Other equities analysts have also recently issued research reports about the company. Needham & Company LLC reissued a “buy” rating and set a $250.00 price target on shares of Circle Internet Group in a report on Monday. Wall Street Zen cut Circle Internet Group from a “hold” rating to a “sell” rating in a report on Friday, June 27th. Oppenheimer initiated coverage on Circle Internet Group in a report on Tuesday, August 12th. They set a “market perform” rating for the company. Robert W. Baird decreased their price target on shares of Circle Internet Group from $210.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, August 13th. Finally, Mizuho set a $85.00 price target on shares of Circle Internet Group in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Circle Internet Group presently has a consensus rating of “Hold” and an average target price of $170.91.

Circle Internet Group Trading Up 17.8%

CRCL stock opened at $133.90 on Thursday. Circle Internet Group has a 12 month low of $64.00 and a 12 month high of $298.99. The company has a market cap of $30.72 billion and a price-to-earnings ratio of -10,581.63. The firm has a 50-day moving average price of $163.20.

Insider Buying and Selling at Circle Internet Group

In related news, insider Nikhil Chandhok sold 50,000 shares of Circle Internet Group stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $127.08, for a total transaction of $6,354,000.00. Following the sale, the insider directly owned 530,803 shares in the company, valued at $67,454,445.24. This trade represents a 8.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Tamara L. Schulz sold 836 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 transaction of $106,238.88. Following the sale, the chief accounting officer owned 93,609 shares in the company, valued at approximately $11,895,831.72. This represents a 0.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 831,014 shares of company stock worth $105,416,046 over the last quarter.

Institutional Investors Weigh In On Circle Internet Group

Hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC bought a new stake in shares of Circle Internet Group in the 2nd quarter valued at about $27,000. North Star Investment Management Corp. bought a new stake in shares of Circle Internet Group in the 2nd quarter valued at about $34,000. Hennessy Advisors Inc. bought a new stake in shares of Circle Internet Group in the 2nd quarter valued at about $36,000. Allworth Financial LP bought a new stake in shares of Circle Internet Group in the 2nd quarter valued at about $37,000. Finally, Chilton Capital Management LLC bought a new stake in shares of Circle Internet Group in the 2nd quarter valued at about $40,000.

Circle Internet Group Company Profile

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.