Wells Fargo & Company Issues Pessimistic Forecast for Circle Internet Group (NYSE:CRCL) Stock Price

Circle Internet Group (NYSE:CRCL) had its price objective decreased by investment analysts at Wells Fargo & Company from $160.00 to $128.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 49.79% from the stock’s previous close.

Several other equities analysts also recently commented on CRCL. Oppenheimer started coverage on shares of Circle Internet Group in a research note on Friday, September 12th. They issued a “market perform” rating on the stock. Redburn Partners set a $136.00 price target on Circle Internet Group in a research note on Friday, October 3rd. The Goldman Sachs Group began coverage on Circle Internet Group in a research note on Tuesday, August 12th. They set a “neutral” rating and a $83.00 price target on the stock. Mizuho set a $85.00 price objective on Circle Internet Group in a research note on Tuesday, August 12th. Finally, JPMorgan Chase & Co. upgraded shares of Circle Internet Group from an “underweight” rating to an “overweight” rating and upped their price target for the company from $94.00 to $100.00 in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $151.53.

Circle Internet Group Trading Down 1.0%

Circle Internet Group stock traded down $0.85 during mid-day trading on Thursday, reaching $85.45. The company’s stock had a trading volume of 33,060,370 shares, compared to its average volume of 18,454,994. The firm’s 50 day simple moving average is $128.16. Circle Internet Group has a 12 month low of $64.00 and a 12 month high of $298.99.

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

Insider Activity at Circle Internet Group

In related news, Director Rajeev V. Date sold 33,400 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $127.08, for a total transaction of $4,244,472.00. Following the transaction, the director owned 248,663 shares in the company, valued at $31,600,094.04. The trade was a 11.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeremy Fox-Geen sold 33,608 shares of the stock in a transaction on 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 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 is available in the SEC filing. Over the last quarter, insiders have sold 831,014 shares of company stock worth $105,416,046.

Institutional Investors Weigh In On Circle Internet Group

Several large investors have recently added to or reduced their stakes in CRCL. General Catalyst Group Management LLC purchased a new position in Circle Internet Group during the 2nd quarter valued at about $3,647,694,000. Marshall Wace LLP purchased a new stake in shares of Circle Internet Group in the second quarter worth $1,547,214,000. ARK Investment Management LLC bought a new stake in Circle Internet Group during the second quarter valued at $530,165,000. Vanguard Group Inc. boosted its position in shares of Circle Internet Group by 61.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock valued at $739,624,000 after acquiring an additional 2,126,072 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in Circle Internet Group by 282.1% during 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 purchasing an additional 959,309 shares during the last quarter.

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.