Circle Internet Group (NYSE:CRCL) Price Target Lowered to $90.00 at JPMorgan Chase & Co.

Circle Internet Group (NYSE:CRCL) had its target price decreased by JPMorgan Chase & Co. from $100.00 to $90.00 in a research note issued to investors on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities analysts have also recently weighed in on CRCL. William Blair reissued an “outperform” rating on shares of Circle Internet Group in a report on Wednesday, November 12th. Compass Point upgraded Circle Internet Group from a “sell” rating to a “neutral” rating and set a $75.00 price objective for the company in a research report on Thursday, January 29th. Weiss Ratings restated a “sell (d)” rating on shares of Circle Internet Group in a report on Wednesday, January 21st. Wells Fargo & Company decreased their price target on shares of Circle Internet Group from $160.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday, November 13th. Finally, Robert W. Baird raised shares of Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $131.76.

Circle Internet Group Price Performance

CRCL stock opened at $59.80 on Tuesday. The company’s 50 day simple moving average is $76.90 and its 200-day simple moving average is $108.91. The firm has a market capitalization of $14.08 billion and a PE ratio of -26.11. Circle Internet Group has a 12 month low of $49.90 and a 12 month high of $298.99.

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

Insider Activity

In other news, CEO Jeremy Allaire sold 7,055 shares of the firm’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $90.07, for a total value of $635,443.85. Following the transaction, the chief executive officer owned 70,517 shares of the company’s stock, valued at approximately $6,351,466.19. This trade represents a 9.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nikhil Chandhok sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $90.00, for a total value of $900,000.00. Following the completion of the transaction, the insider directly owned 474,974 shares in the company, valued at $42,747,660. This trade represents a 2.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 723,616 shares of company stock valued at $58,631,542 in the last 90 days.

Institutional Investors Weigh In On Circle Internet Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC bought a new stake in shares of Circle Internet Group in the 4th quarter worth about $25,000. Larson Financial Group LLC grew its stake in Circle Internet Group by 3,800.0% in the third quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock worth $26,000 after purchasing an additional 190 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in Circle Internet Group in the third quarter valued at about $27,000. EverSource Wealth Advisors LLC acquired a new stake in Circle Internet Group during the second quarter valued at approximately $27,000. Finally, Bellevue Asset Management LLC acquired a new stake in Circle Internet Group during the fourth quarter valued at approximately $29,000.

About Circle Internet Group

Circle Internet Group (NYSE: CRCL) is a financial technology company that builds infrastructure to enable businesses and developers to use and move money on public blockchains. Co-founded by Jeremy Allaire and Sean Neville, the company is best known as a principal issuer and steward of USD Coin (USDC), a dollar-pegged stablecoin developed through the CENTRE Consortium, which Circle co-founded with Coinbase. Jeremy Allaire serves as CEO and has been a visible leader in the company’s strategy and public engagement around digital currency and payments innovation.

Circle’s core products and services center on digital currency issuance and programmable payments.