Circle Internet Group (NYSE:CRCL) Stock Rating Upgraded by Rothschild Redb

Circle Internet Group (NYSE:CRCL) was upgraded by analysts at Rothschild Redb to a “hold” rating in a note issued to investors on Friday,Zacks.com reports.

Several other research analysts have also commented on CRCL. Robert W. Baird reduced their price target on Circle Internet Group from $210.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, August 13th. Mizuho set a $85.00 price target on Circle Internet Group in a research report on Tuesday, August 12th. Redburn Partners set a $136.00 price target on Circle Internet Group in a research report on Friday. Needham & Company LLC reissued a “buy” rating and issued a $250.00 price target on shares of Circle Internet Group in a research report on Monday, September 8th. Finally, Oppenheimer began coverage on Circle Internet Group in a research report on Friday, September 12th. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, ten have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $165.54.

Circle Internet Group Trading Down 2.6%

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

Insider Activity at Circle Internet Group

In related news, CEO Jeremy Allaire sold 357,812 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $127.08, for a total transaction of $45,470,748.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Nikhil Chandhok sold 50,000 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $127.08, for a total value of $6,354,000.00. Following the transaction, the insider directly owned 530,803 shares in the company, valued at $67,454,445.24. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 831,014 shares of company stock worth $105,416,046 over the last ninety days.

Institutional Inflows and Outflows

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

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.