Circle Internet Group (NYSE:CRCL) Shares Gap Up - Here's What Happened

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $200.68, but opened at $208.84. Circle Internet Group shares last traded at $202.27, with a volume of 5,350,763 shares trading hands.

Analysts Set New Price Targets

CRCL has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft started coverage on Circle Internet Group in a research note on Monday, June 30th. They issued a "hold" rating and a $155.00 target price on the stock. Sanford C. Bernstein started coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They set 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. JPMorgan Chase & Co. started coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They set an "underweight" rating and a $80.00 price target for the company. Finally, Wall Street Zen lowered shares of Circle Internet Group from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Three analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $182.09.

Circle Internet Group Stock Performance

The firm has a market cap of $41.56 billion and a PE ratio of -14,758.18.

Insider Activity

In other news, CFO Jeremy Fox-Geen sold 200,000 shares of Circle Internet Group 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 $5,860,000.00. Following the completion of the transaction, the chief financial officer directly owned 320,371 shares in the company, valued at approximately $9,386,870.30. This trade represents a 38.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patrick Sean Neville sold 1,000,000 shares of Circle Internet Group 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 $29,300,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,682,884 shares of company stock valued at $195,808,501.

Institutional Investors Weigh In On Circle Internet Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Exchange Traded Concepts LLC bought a new stake in Circle Internet Group in the 2nd quarter worth approximately $18,397,000. Wealth Enhancement Advisory Services LLC bought a new stake in Circle Internet Group in the 2nd quarter worth approximately $673,000. Baader Bank Aktiengesellschaft bought a new stake in Circle Internet Group in the 2nd quarter worth approximately $1,083,000. Westbourne Investments Inc. bought a new stake in Circle Internet Group in the 2nd quarter worth approximately $204,000. Finally, Brand Asset Management Group Inc. bought a new stake in shares of Circle Internet Group during the 2nd quarter valued at $272,000.

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.