Brokerages Set Circle Internet Group, Inc. (NYSE:CRCL) Target Price at $170.91

Key Points

• Circle Internet Group, Inc. (NYSE:CRCL) has received a consensus recommendation of "Hold" from 14 brokerages, with ratings varying from sell to strong buy.
• Insider trading activity includes significant stock sales, with CFO Jeremy Fox-Geen selling over 33,000 shares for approximately $4 million and Director Patrick Sean Neville selling over 260,000 shares for about $33 million.
• The stock is currently down 6.4% and has a market cap of $28.71 billion, with a P/E ratio of -9,887.78.

Shares of Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) have earned a consensus rating of "Hold" from the fourteen research firms that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, five have given a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $170.9091.

CRCL has been the topic of several recent research reports. Oppenheimer initiated coverage on shares of Circle Internet Group in a report on Friday, September 12th. They issued a "market perform" rating on the stock. Robert W. Baird lowered their price target on shares of Circle Internet Group from $210.00 to $185.00 and set a "neutral" rating on the stock in a report on Wednesday, August 13th. Seaport Res Ptn raised Circle Internet Group to a "strong-buy" rating in a research report on Friday, June 20th. Canaccord Genuity Group reissued a "buy" rating and issued a $247.00 price objective on shares of Circle Internet Group in a report on Thursday, September 11th. Finally, Compass Point lowered Circle Internet Group from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $205.00 to $130.00 in a report on Monday, July 21st.

Insider Buying and Selling at Circle Internet Group

In other Circle Internet Group news, CFO Jeremy Fox-Geen sold 33,608 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $121.45, for a total value of $4,081,691.60. Following the completion of the transaction, the chief financial officer 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Rajeev V. Date sold 33,400 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $127.08, for a total value of $4,244,472.00. Following the transaction, the director owned 248,663 shares in the company, valued at $31,600,094.04. This represents a 11.84% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 831,014 shares of company stock worth $105,416,046.

Institutional Investors Weigh In On Circle Internet Group

A number of institutional investors have recently added to or reduced their stakes in CRCL. Brand Asset Management Group Inc. purchased a new stake in Circle Internet Group in the 2nd quarter worth $272,000. Westbourne Investments Inc. acquired a new stake in shares of Circle Internet Group in the second quarter valued at about $204,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Circle Internet Group during the second quarter worth about $673,000. PFG Investments LLC acquired a new position in shares of Circle Internet Group during the 2nd quarter worth about $579,000. Finally, EWA LLC purchased a new position in Circle Internet Group in the 2nd quarter valued at about $279,000.

Circle Internet Group Price Performance

Shares of Circle Internet Group stock traded down $0.69 on Friday, reaching $134.12. 11,476,947 shares of the stock were exchanged, compared to its average volume of 22,293,908. Circle Internet Group has a twelve month low of $64.00 and a twelve month high of $298.99. The company has a 50 day simple moving average of $159.06. The company has a market capitalization of $30.77 billion and a price-to-earnings ratio of -10,599.02.

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.