Circle Internet Group (NYSE:CRCL) Coverage Initiated by Analysts at Rothschild & Co Redburn

Rothschild & Co Redburn began coverage on shares of Circle Internet Group (NYSE:CRCL) in a research note published on Friday, Marketbeat Ratings reports. The firm issued a neutral rating and a $136.00 target price on the stock.

Several other brokerages have also recently issued reports on CRCL. Citigroup began coverage on Circle Internet Group in a research note on Tuesday. They set a “market perform” rating on the stock. Baird R W upgraded Circle Internet Group to a “hold” rating in a research note on Friday, July 11th. Barclays assumed coverage on shares of Circle Internet Group in a report on Monday, June 30th. They set an “overweight” rating and a $215.00 price target for the company. The Goldman Sachs Group assumed coverage on shares of Circle Internet Group in a report on Tuesday, August 12th. They set a “neutral” rating and a $83.00 price target for the company. Finally, Seaport Res Ptn raised shares of Circle Internet Group to a “strong-buy” rating in a report on Friday, June 20th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $165.54.

Circle Internet Group Price Performance

Shares of CRCL opened at $145.81 on Friday. The stock’s fifty day moving average price is $140.53. Circle Internet Group has a 12-month low of $64.00 and a 12-month high of $298.99. The company has a market capitalization of $33.45 billion and a PE ratio of -11,522.92.

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 dated 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. The trade was a 8.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeremy Fox-Geen sold 33,608 shares of Circle Internet Group stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $121.45, for a total transaction of $4,081,691.60. Following the sale, the chief financial officer owned 297,823 shares in the company, valued at approximately $36,170,603.35. This represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 831,014 shares of company stock valued at $105,416,046.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC acquired a new position in Circle Internet Group during the second quarter worth about $27,000. North Star Investment Management Corp. acquired a new position in Circle Internet Group during the second quarter worth about $34,000. Hennessy Advisors Inc. acquired a new position in Circle Internet Group during the second quarter worth about $36,000. Allworth Financial LP acquired a new position in Circle Internet Group during the second quarter worth about $37,000. Finally, Chilton Capital Management LLC purchased a new position in Circle Internet Group in the 2nd quarter worth 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.