Circle Internet Group (NYSE:CRCL) Trading Down 5.9% - What's Next?

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report)'s share price dropped 5.9% during mid-day trading on Wednesday . The stock traded as low as $181.03 and last traded at $181.12. Approximately 7,170,230 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 45,465,492 shares. The stock had previously closed at $192.53.

Analysts Set New Price Targets

CRCL has been the topic of a number of research analyst reports. The Goldman Sachs Group began coverage on Circle Internet Group in a report on Monday. They issued a "neutral" rating and a $83.00 price target on the stock. Barclays began coverage on shares of Circle Internet Group in a report on Monday. They issued an "overweight" rating and a $215.00 target price for the company. Compass Point began coverage on shares of Circle Internet Group in a research report on Tuesday, June 24th. They set a "neutral" rating and a $205.00 target price on the stock. Needham & Company LLC assumed coverage on shares of Circle Internet Group in a research note on Monday. They issued a "buy" rating and a $250.00 price objective for the company. Finally, Citigroup started coverage on Circle Internet Group in a research report on Monday. They set a "buy" rating and a $243.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $189.78.

Circle Internet Group Stock Up 6.1%

The firm has a market cap of $42.01 billion and a price-to-earnings ratio of -14,917.81.

Insider Buying and Selling at Circle Internet Group

In other Circle Internet Group news, CFO Jeremy Fox-Geen sold 200,000 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $29.30, for a total transaction of $5,860,000.00. Following the sale, the chief financial officer owned 320,371 shares in the company, valued at approximately $9,386,870.30. This represents a 38.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeremy Allaire sold 1,582,160 shares of the business's stock in a transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,682,884 shares of company stock worth $195,808,501.

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.