Circle Internet Group (NYSE:CRCL) Now Covered by JMP Securities

Key Points

• Circle Internet Group (NYSE:CRCL) has been initiated with a "market perform" rating by JMP Securities, joining several other brokerages that have recently covered the stock.
• The stock has an average target price of $170.91 with mixed ratings: one Strong Buy, four Buy, eight Hold, and three Sell recommendations from analysts.
• Insiders, including CEO Jeremy Allaire, have sold substantial amounts of stock recently, indicating a potential shift in confidence among company leadership.

Research analysts at JMP Securities started coverage on shares of Circle Internet Group (NYSE:CRCL - Get Free Report) in a research note issued on Tuesday,Benzinga reports. The brokerage set a "market perform" rating on the stock.

CRCL has been the topic of a number of other research reports. The Goldman Sachs Group started coverage on shares of Circle Internet Group in a report on Tuesday, August 12th. They issued a "neutral" rating and a $83.00 price target on the stock. Barclays started coverage on shares of Circle Internet Group in a report on Monday, June 30th. They issued an "overweight" rating and a $215.00 price target on the stock. Seaport Res Ptn raised shares of Circle Internet Group to a "strong-buy" rating in a report on Friday, June 20th. Citigroup started coverage on shares of Circle Internet Group in a report on Tuesday. They issued a "market perform" rating on the stock. Finally, Sanford C. Bernstein started coverage on shares of Circle Internet Group in a report on Monday, June 30th. They issued an "outperform" rating and a $230.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $170.91.

Circle Internet Group Trading Up 0.5%

NYSE:CRCL traded up $0.64 on Tuesday, hitting $134.30. The stock had a trading volume of 3,225,178 shares, compared to its average volume of 20,964,227. The firm has a market cap of $30.81 billion and a PE ratio of -10,613.09. Circle Internet Group has a 1 year low of $64.00 and a 1 year high of $298.99. The firm's fifty day simple moving average is $145.12.

Insiders Place Their Bets

In related news, CEO Jeremy Allaire sold 357,812 shares of Circle Internet Group stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $127.08, for a total value of $45,470,748.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rajeev V. Date sold 33,400 shares of Circle Internet Group 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 $4,244,472.00. Following the completion of the transaction, the director owned 248,663 shares of the company's stock, valued at $31,600,094.04. This represents a 11.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 831,014 shares of company stock worth $105,416,046 in the last three months.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CRCL. EverSource Wealth Advisors LLC purchased a new position in shares of Circle Internet Group during the 2nd quarter valued at $27,000. North Star Investment Management Corp. purchased a new position in shares of Circle Internet Group during the 2nd quarter valued at $34,000. Hennessy Advisors Inc. purchased a new position in shares of Circle Internet Group during the 2nd quarter valued at $36,000. Allworth Financial LP purchased a new position in shares of Circle Internet Group during the 2nd quarter valued at $37,000. Finally, Chilton Capital Management LLC purchased a new position in shares of Circle Internet Group during the 2nd quarter valued at $40,000.

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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