Circle Internet Group (NYSE:CRCL - Get Free Report) had its price target lifted by JPMorgan Chase & Co. from $89.00 to $93.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential downside of 28.32% from the stock's previous close.
Other analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Circle Internet Group from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Citizens Jmp began coverage on shares of Circle Internet Group in a research report on Tuesday, September 30th. They issued a "market perform" rating on the stock. Barclays began coverage on Circle Internet Group in a report on Monday, June 30th. They set an "overweight" rating and a $215.00 target price for the company. Needham & Company LLC restated a "buy" rating and issued a $250.00 price target on shares of Circle Internet Group in a report on Monday, September 8th. Finally, Redburn Partners set a $136.00 price objective on Circle Internet Group in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Circle Internet Group presently has an average rating of "Hold" and a consensus price target of $165.43.
View Our Latest Research Report on Circle Internet Group
Circle Internet Group Price Performance
Shares of Circle Internet Group stock opened at $129.74 on Friday. The business's fifty day simple moving average is $132.31. The firm has a market cap of $29.77 billion and a P/E ratio of -10,253.04. Circle Internet Group has a 12 month low of $64.00 and a 12 month high of $298.99.
Circle Internet Group (NYSE:CRCL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($4.48) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($4.82). The business had revenue of $658.08 million during the quarter, compared to the consensus estimate of $645.35 million. The firm's quarterly revenue was up 53.0% compared to the same quarter last year.
Insider Buying and Selling
In related news, insider Nikhil Chandhok sold 50,000 shares of Circle Internet Group stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $127.08, for a total value of $6,354,000.00. Following the sale, the insider owned 530,803 shares of the company's stock, valued at approximately $67,454,445.24. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patrick Sean Neville sold 260,374 shares of the 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 $33,088,327.92. The disclosure for this sale can be found here. Insiders have sold 831,014 shares of company stock worth $105,416,046 over the last three months.
Institutional Trading of Circle Internet Group
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. ARK Investment Management LLC bought a new position in shares of Circle Internet Group in the 2nd quarter valued at about $530,165,000. Huntleigh Advisors Inc. acquired a new stake in Circle Internet Group in the 2nd quarter valued at about $470,000. Covenant Asset Management LLC bought a new position in Circle Internet Group during the second quarter worth about $363,000. Acorn Financial Advisory Services Inc. ADV acquired a new position in Circle Internet Group during the second quarter worth approximately $703,000. Finally, Endowment Wealth Management Inc. bought a new stake in Circle Internet Group in the second quarter valued at approximately $18,129,000.
About Circle Internet Group
(
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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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