Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report)'s share price dropped 1.6% during trading on Wednesday . The company traded as low as $201.50 and last traded at $201.53. Approximately 9,439,728 shares were traded during trading, a decline of 77% from the average daily volume of 41,371,730 shares. The stock had previously closed at $204.81.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on CRCL. JPMorgan Chase & Co. initiated coverage on Circle Internet Group in a report on Monday, June 30th. They issued an "underweight" rating and a $80.00 price target for the company. Barclays started coverage on Circle Internet Group in a research report on Monday, June 30th. They set an "overweight" rating and a $215.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They set a "hold" rating and a $155.00 price objective on the stock. Canaccord Genuity Group began coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They issued a "buy" rating and a $247.00 price objective on the stock. Finally, Wall Street Zen cut shares of Circle Internet Group from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $179.30.
Check Out Our Latest Stock Analysis on CRCL
Circle Internet Group Trading Up 0.6%
The firm has a market cap of $44.94 billion and a price-to-earnings ratio of -15,960.17.
Insiders Place Their Bets
In other Circle Internet Group news, CEO Jeremy Allaire sold 1,582,160 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $29.30, for a total transaction of $46,357,288.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nikhil Chandhok sold 300,000 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $29.30, for a total value of $8,790,000.00. Following the completion of the transaction, the insider owned 605,580 shares in the company, valued at approximately $17,743,494. This trade represents a 33.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,682,884 shares of company stock worth $195,808,501.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Westbourne Investments Inc. purchased a new position in Circle Internet Group in the 2nd quarter valued at about $204,000. Brand Asset Management Group Inc. purchased a new position in Circle Internet Group in the second quarter valued at about $272,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Circle Internet Group during the 2nd quarter valued at approximately $673,000. Baader Bank Aktiengesellschaft acquired a new stake in Circle Internet Group during the 2nd quarter valued at approximately $1,083,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Circle Internet Group during the 2nd quarter worth approximately $18,397,000.
Circle Internet Group Company Profile
(
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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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