Circle Internet Group (NYSE:CRCL) Shares Gap Up - What's Next?

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report)'s share price gapped up before the market opened 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 traded.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Barclays assumed coverage on Circle Internet Group in a research report on Monday, June 30th. They issued an "overweight" rating and a $215.00 price objective for the company. Compass Point assumed coverage on Circle Internet Group in a research report on Tuesday, June 24th. They issued a "neutral" rating and a $205.00 price objective for the company. Sanford C. Bernstein assumed coverage on Circle Internet Group in a research report on Monday, June 30th. They issued an "outperform" rating and a $230.00 price objective for the company. Citigroup assumed coverage on Circle Internet Group in a research report on Monday, June 30th. They issued a "buy" rating and a $243.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Circle Internet Group in a research report on Monday, June 30th. They issued a "hold" rating and a $155.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Circle Internet Group presently has an average rating of "Hold" and a consensus target price of $179.30.

Circle Internet Group Price Performance

The firm has a market cap of $44.94 billion and a P/E ratio of -15,960.17.

Insider Buying and Selling at Circle Internet Group

In other 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 completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeremy Allaire sold 1,582,160 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 value of $46,357,288.00. The disclosure for this sale can be found here. Insiders have sold a total of 6,682,884 shares of company stock valued at $195,808,501 in the last three months.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC purchased a new position in shares of Circle Internet Group during the 2nd quarter valued at about $18,397,000. Baader Bank Aktiengesellschaft purchased a new position in shares of Circle Internet Group during the 2nd quarter valued at about $1,083,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Circle Internet Group during the 2nd quarter valued at about $673,000. Brand Asset Management Group Inc. purchased a new position in shares of Circle Internet Group during the 2nd quarter valued at about $272,000. Finally, Westbourne Investments Inc. purchased a new position in shares of Circle Internet Group during the 2nd quarter valued at about $204,000.

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.