Rothschild & Co Redburn Begins Coverage on Circle Internet Group (NYSE:CRCL)

Rothschild & Co Redburn initiated coverage on shares of Circle Internet Group (NYSE:CRCL) in a research report released on Friday, MarketBeat reports. The brokerage issued a neutral rating and a $136.00 price target on the stock.

A number of other equities research analysts also recently weighed in on the company. Citizens Jmp assumed coverage on Circle Internet Group in a research report on Tuesday, September 30th. They set a “market perform” rating on the stock. Compass Point lowered shares of Circle Internet Group from a “neutral” rating to a “sell” rating and decreased their price target for the company from $205.00 to $130.00 in a research report on Monday, July 21st. Seaport Res Ptn raised shares of Circle Internet Group to a “strong-buy” rating in a research report on Friday, June 20th. Wall Street Zen downgraded shares of Circle Internet Group from a “hold” rating to a “sell” rating in a research note on Friday, June 27th. Finally, The Goldman Sachs Group began coverage on shares of Circle Internet Group in a report on Tuesday, August 12th. They issued a “neutral” rating and a $83.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Circle Internet Group presently has an average rating of “Hold” and a consensus target price of $165.54.

Circle Internet Group Price Performance

Shares of NYSE CRCL opened at $145.81 on Friday. Circle Internet Group has a 12-month low of $64.00 and a 12-month high of $298.99. The firm’s fifty day moving average is $140.53. The company has a market cap of $33.45 billion and a PE ratio of -11,522.92.

Insider Transactions at Circle Internet Group

In other Circle Internet Group news, insider Nikhil Chandhok sold 50,000 shares of Circle Internet Group 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 sale, the insider directly owned 530,803 shares in the company, valued at approximately $67,454,445.24. The trade was a 8.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Patrick Sean Neville sold 260,374 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $127.08, for a total transaction of $33,088,327.92. The disclosure for this sale can be found here. Insiders have sold 831,014 shares of company stock valued at $105,416,046 over the last quarter.

Institutional Investors Weigh In On Circle Internet Group

Several hedge funds have recently added to or reduced their stakes in the business. Covenant Asset Management LLC purchased a new position in shares of Circle Internet Group during the 2nd quarter valued at about $363,000. Baader Bank Aktiengesellschaft acquired a new stake in Circle Internet Group during the second quarter worth about $1,083,000. KG&L Capital Management LLC purchased a new position in Circle Internet Group during the second quarter valued at approximately $528,000. Exchange Traded Concepts LLC acquired a new position in Circle Internet Group in the second quarter valued at approximately $18,397,000. Finally, PFG Investments LLC purchased a new stake in Circle Internet Group in the 2nd quarter worth approximately $579,000.

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.