Circle Internet Group, Inc. (NYSE:CRCL) Given Consensus Recommendation of "Hold" by Brokerages
Circle Internet Group, Inc. (NYSE:CRCL) has received a consensus recommendation of "Hold" from fourteen brokerages. Ratings include three sell, five hold, five buy, and one strong buy. The average price target is $170.91. Recent analyst actions include Goldman Sachs setting a neutral rating at $83, and JPMorgan raising their target from $80 to $89. Insider sales totaled over $105 million in the last 90 days. The stock is currently down 6.4%, trading at $125.12, with a market cap of $28.71 billion.
Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) has been assigned a consensus recommendation of "Hold" from the fourteen brokerages that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $170.9091.
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Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Circle Internet Group in a research note on Tuesday, August 12th. They set a "neutral" rating and a $83.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Circle Internet Group from $80.00 to $89.00 and gave the stock an "underweight" rating in a research note on Tuesday, August 19th. Oppenheimer assumed coverage on shares of Circle Internet Group in a research note on Friday. They set a "market perform" rating on the stock. 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, Baird R W raised shares of Circle Internet Group to a "hold" rating in a research note on Friday, July 11th.
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Insider Activity
- IPO Momentum Returns: 3 Stocks Rising After CoreWeave’s Surge
In related news, CFO Jeremy Fox-Geen sold 33,608 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $121.45, for a total transaction of $4,081,691.60. Following the sale, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patrick Sean Neville sold 260,374 shares of the company's stock in a transaction that occurred 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 sold 831,014 shares of company stock worth $105,416,046 over the last 90 days.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in CRCL. General Catalyst Group Management LLC acquired a new position in Circle Internet Group during the 2nd quarter worth approximately $3,647,694,000. Marshall Wace LLP acquired a new position in Circle Internet Group during the 2nd quarter worth approximately $1,547,214,000. ARK Investment Management LLC acquired a new position in Circle Internet Group during the 2nd quarter worth approximately $530,165,000. Squarepoint Ops LLC acquired a new position in Circle Internet Group during the 2nd quarter worth approximately $73,101,000. Finally, Nikko Asset Management Americas Inc. acquired a new position in Circle Internet Group during the 2nd quarter worth approximately $72,486,000.
Circle Internet Group Stock Down 6.4%
Circle Internet Group stock opened at $125.12 on Friday. The company has a 50 day moving average of $161.93. The stock has a market cap of $28.71 billion and a P/E ratio of -9,887.78. Circle Internet Group has a 1 year low of $64.00 and a 1 year high of $298.99.
About Circle Internet Group
(Get Free Report)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.
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