Circle Internet Group (NYSE:CRCL) Coverage Initiated by Analysts at Citizens Jmp

Key Points

• Analysts at Citizens Jmp have initiated coverage of Circle Internet Group (NYSE:CRCL) with a "market perform" rating.
• Recent price target adjustments by multiple firms reflect a range of opinions, with Deutsche Bank lowering its target to $123 and Sanford C. Bernstein setting a target of $230.
• Insider trading activity saw significant sales, including CFO Jeremy Fox-Geen selling over 33,000 shares, indicating a 10.14% reduction in ownership.

Investment analysts at Citizens Jmp initiated coverage on shares of Circle Internet Group (NYSE:CRCL - Get Free Report) in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The brokerage set a "market perform" rating on the stock.

A number of other research firms have also recently weighed in on CRCL. Deutsche Bank Aktiengesellschaft cut their price target on Circle Internet Group from $163.00 to $123.00 and set a "hold" rating on the stock in a report on Wednesday, August 20th. Robert W. Baird reduced their price target on Circle Internet Group from $210.00 to $185.00 and set a "neutral" rating for the company in a report on Wednesday, August 13th. Sanford C. Bernstein started coverage on Circle Internet Group in a research note on Monday, June 30th. They issued an "outperform" rating and a $230.00 price target for the company. Seaport Res Ptn upgraded shares of Circle Internet Group to a "strong-buy" rating in a research report on Friday, June 20th. Finally, Wall Street Zen lowered Circle Internet Group from a "hold" rating to a "sell" rating in a report on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $170.91.

Circle Internet Group Trading Up 5.1%

Shares of NYSE CRCL opened at $133.44 on Tuesday. The business's 50-day moving average is $145.12. Circle Internet Group has a 1-year low of $64.00 and a 1-year high of $298.99. The stock has a market cap of $30.61 billion and a P/E ratio of -10,544.97.

Insider Activity at Circle Internet Group

In other news, CFO Jeremy Fox-Geen sold 33,608 shares of the 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 transaction, the chief financial officer directly owned 297,823 shares in the company, valued at approximately $36,170,603.35. This trade represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patrick Sean Neville sold 260,374 shares of the firm's 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 $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 quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. General Catalyst Group Management LLC acquired a new stake in shares of Circle Internet Group in the 2nd quarter worth $3,647,694,000. Marshall Wace LLP purchased a new stake in shares of Circle Internet Group during the second quarter worth about $1,547,214,000. ARK Investment Management LLC bought a new stake in shares of Circle Internet Group in the 2nd quarter worth about $530,165,000. Squarepoint Ops LLC acquired a new stake in shares of Circle Internet Group during the 2nd quarter valued at approximately $73,101,000. Finally, Nikko Asset Management Americas Inc. bought a new position in shares of Circle Internet Group in the 2nd quarter worth about $72,486,000.

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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