Circle Internet Group (NYSE:CRCL) Now Covered by Canaccord Genuity Group

Equities research analysts at Canaccord Genuity Group initiated coverage on shares of Circle Internet Group (NYSE:CRCL - Get Free Report) in a report issued on Monday,Benzinga reports. The firm set a "buy" rating and a $247.00 price target on the stock. Canaccord Genuity Group's price objective would indicate a potential upside of 36.75% from the stock's current price.

CRCL has been the topic of a number of other reports. Wall Street Zen cut Circle Internet Group from a "hold" rating to a "sell" rating in a research report on Friday. Seaport Res Ptn raised shares of Circle Internet Group to a "strong-buy" rating in a report on Friday, June 20th. Finally, Compass Point began coverage on shares of Circle Internet Group in a research note on Tuesday, June 24th. They issued a "neutral" rating and a $205.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $187.14.

Circle Internet Group Trading Down 15.5%

NYSE:CRCL opened at $180.62 on Monday. Circle Internet Group has a 52-week low of $64.00 and a 52-week high of $298.99. The stock has a market cap of $40.20 billion and a PE ratio of -14,273.75.

Insider Buying and Selling

In other news, insider Nikhil Chandhok sold 300,000 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $29.30, for a total transaction of $8,790,000.00. Following the transaction, the insider now directly owns 605,580 shares in the company, valued at approximately $17,743,494. This represents a 33.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rajeev V. Date sold 50,000 shares of the business'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 $1,465,000.00. Following the completion of the transaction, the director now owns 238,513 shares of the company's stock, valued at $6,988,430.90. This trade represents a 17.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,682,884 shares of company stock worth $195,808,501 in the last three months.

About Circle Internet Group

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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