Circle Internet Group (NYSE:CRCL) Coverage Initiated at Robert W. Baird

Analysts at Robert W. Baird assumed coverage on shares of Circle Internet Group (NYSE:CRCL - Get Free Report) in a report released on Friday, Marketbeat reports. The brokerage set a "neutral" rating and a $210.00 price target on the stock. Robert W. Baird's target price would indicate a potential upside of 3.98% from the stock's previous close.

CRCL has been the subject of a number of other reports. Citigroup began coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They set a "buy" rating and a $243.00 price target for the company. Sanford C. Bernstein began coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They set an "outperform" rating and a $230.00 price target for the company. Wall Street Zen cut shares of Circle Internet Group from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Barclays began coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They set an "overweight" rating and a $215.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They set a "hold" rating and a $155.00 price target for the company. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Circle Internet Group currently has a consensus rating of "Hold" and an average target price of $182.09.

Circle Internet Group Price Performance

NYSE:CRCL opened at $201.96 on Friday. Circle Internet Group has a 12 month low of $64.00 and a 12 month high of $298.99. The stock has a market capitalization of $44.94 billion and a PE ratio of -15,960.17.

Insider Transactions at Circle Internet Group

In related news, CEO Jeremy Allaire sold 1,582,160 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $29.30, for a total value of $46,357,288.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nikhil Chandhok sold 300,000 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $29.30, for a total transaction of $8,790,000.00. Following the transaction, the insider directly owned 605,580 shares of the company's stock, valued at $17,743,494. This represents a 33.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,682,884 shares of company stock worth $195,808,501 over the last ninety days.

Institutional Investors Weigh In On Circle Internet Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC purchased a new stake in Circle Internet Group in the 2nd quarter worth $673,000. Baader Bank Aktiengesellschaft purchased a new stake in Circle Internet Group in the 2nd quarter worth $1,083,000. Exchange Traded Concepts LLC purchased a new stake in shares of Circle Internet Group during the second quarter worth $18,397,000. Westbourne Investments Inc. purchased a new stake in shares of Circle Internet Group during the second quarter worth $204,000. Finally, Brand Asset Management Group Inc. purchased a new stake in shares of Circle Internet Group during the second quarter worth $272,000.

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.

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