Circle Internet Group’s (CRCL) Buy Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of Circle Internet Group (NYSE:CRCL) in a research note published on Monday morning,Benzinga reports. They currently have a $247.00 price target on the stock.

A number of other equities analysts also recently weighed in on the stock. Oppenheimer initiated coverage on shares of Circle Internet Group in a research note on Tuesday, August 12th. They issued a “market perform” rating for the company. Needham & Company LLC initiated coverage on shares of Circle Internet Group in a report on Wednesday, July 16th. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Circle Internet Group in a research report on Tuesday, August 12th. They issued a “hold” rating and a $155.00 price objective for the company. Baird R W raised Circle Internet Group to a “hold” rating in a report on Friday, July 11th. Finally, Sanford C. Bernstein assumed coverage on Circle Internet Group in a research report on Monday, June 30th. They issued an “outperform” rating and a $230.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $170.91.

Circle Internet Group Stock Performance

Shares of NYSE:CRCL opened at $137.25 on Monday. The firm has a fifty day simple moving average of $183.44. Circle Internet Group has a twelve month low of $64.00 and a twelve month high of $298.99. The firm has a market capitalization of $30.54 billion and a price-to-earnings ratio of -10,846.37.

Insider Activity

In related news, CEO Jeremy Allaire sold 357,812 shares of Circle Internet Group stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director M Michele Burns sold 29,946 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 $3,805,537.68. Following the completion of the sale, the director owned 315,230 shares of the company’s stock, valued at $40,059,428.40. This represents a 8.68% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,480,290 shares of company stock worth $297,142,856.

Hedge Funds Weigh In On Circle Internet Group

Institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC bought a new position in shares of Circle Internet Group during the second quarter worth $27,000. North Star Investment Management Corp. bought a new stake in shares of Circle Internet Group in the 2nd quarter valued at $34,000. Hennessy Advisors Inc. acquired a new stake in Circle Internet Group during the 2nd quarter worth $36,000. Allworth Financial LP bought a new position in Circle Internet Group during the second quarter worth about $37,000. Finally, Chilton Capital Management LLC bought a new position in Circle Internet Group during the second 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.