Robert W. Baird Cuts Circle Internet Group (NYSE:CRCL) Price Target to $110.00

Circle Internet Group (NYSE:CRCL) had its price objective reduced by Robert W. Baird from $144.00 to $110.00 in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. They currently have a neutral rating on the stock.

Other equities analysts also recently issued research reports about the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $247.00 price target on shares of Circle Internet Group in a report on Thursday, September 11th. Citizens Jmp started coverage on Circle Internet Group in a research report on Tuesday, September 30th. They set a “market perform” rating for the company. Rothschild & Co Redburn initiated coverage on shares of Circle Internet Group in a report on Friday, October 3rd. They issued a “neutral” rating and a $136.00 target price for the company. Weiss Ratings restated a “sell (d)” rating on shares of Circle Internet Group in a report on Wednesday, October 8th. Finally, Mizuho set a $85.00 price objective on Circle Internet Group in a research note on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $150.53.

Circle Internet Group Trading Down 0.6%

CRCL opened at $81.82 on Thursday. Circle Internet Group has a 52-week low of $64.00 and a 52-week high of $298.99. The company’s 50-day moving average is $126.80.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.20 by $0.44. The firm had revenue of $739.76 million during the quarter. Circle Internet Group’s revenue for the quarter was up 65.9% on a year-over-year basis.

Insider Buying and Selling at Circle Internet Group

In related news, CFO Jeremy Fox-Geen sold 33,608 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $121.45, for a total transaction of $4,081,691.60. Following the transaction, the chief financial officer directly owned 297,823 shares of the company’s stock, valued at $36,170,603.35. This represents a 10.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Nikhil Chandhok sold 50,000 shares of the 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 completion of the transaction, the insider directly owned 530,803 shares of the company’s stock, valued at $67,454,445.24. The trade was a 8.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 831,014 shares of company stock valued at $105,416,046.

Hedge Funds Weigh In On Circle Internet Group

Several hedge funds and other institutional investors have recently bought and sold shares of CRCL. General Catalyst Group Management LLC purchased a new stake in shares of Circle Internet Group in the 2nd quarter valued at $3,647,694,000. Marshall Wace LLP acquired a new position in shares of Circle Internet Group in the 2nd quarter valued at about $1,547,214,000. Vanguard Group Inc. grew its holdings in Circle Internet Group by 61.6% during the third quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock worth $739,624,000 after acquiring an additional 2,126,072 shares during the period. ARK Investment Management LLC raised its position in Circle Internet Group by 1.5% during the third quarter. ARK Investment Management LLC now owns 2,966,940 shares of the company’s stock valued at $393,357,000 after acquiring an additional 42,537 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Circle Internet Group by 282.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,299,374 shares of the company’s stock valued at $172,271,000 after acquiring an additional 959,309 shares during the period.

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.