Circle Internet Group (NYSE:CRCL) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

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Circle Internet Group (NYSE:CRCL - Get Free Report) had its target price hoisted by analysts at JPMorgan Chase & Co. from $80.00 to $89.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential downside of 36.04% from the stock's previous close.

Several other research firms also recently weighed in on CRCL. The Goldman Sachs Group assumed coverage on Circle Internet Group in a research report on Tuesday, August 12th. They issued a "neutral" rating and a $83.00 target price on the stock. Seaport Res Ptn upgraded Circle Internet Group to a "strong-buy" rating in a research report on Friday, June 20th. Baird R W upgraded Circle Internet Group to a "hold" rating in a research report on Friday, July 11th. Sanford C. Bernstein started coverage on Circle Internet Group in a report on Monday, June 30th. They issued an "outperform" rating and a $230.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft started coverage on Circle Internet Group in a report on Tuesday, August 12th. They issued a "hold" rating and a $155.00 price target for the company. Four analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $173.82.

Circle Internet Group Price Performance

Shares of NYSE CRCL traded down $2.42 during midday trading on Tuesday, hitting $139.16. The stock had a trading volume of 2,190,677 shares, compared to its average volume of 26,847,332. The firm has a market capitalization of $30.97 billion and a P/E ratio of -10,997.31. The company's 50 day simple moving average is $182.44. Circle Internet Group has a 1 year low of $64.00 and a 1 year high of $298.99.

Insider Activity at Circle Internet Group

In other Circle Internet Group news, CEO Jeremy Allaire sold 1,582,160 shares of the firm's stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patrick Sean Neville sold 1,000,000 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 $29,300,000.00. The disclosure for this sale can be found here. Insiders have sold 6,682,884 shares of company stock valued at $195,808,501 over the last 90 days.

Institutional Trading of Circle Internet Group

Several institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC purchased a new stake in shares of Circle Internet Group during the 2nd quarter worth approximately $27,000. North Star Investment Management Corp. acquired a new position in Circle Internet Group in the 2nd quarter valued at $34,000. Hennessy Advisors Inc. acquired a new position in Circle Internet Group in the 2nd quarter valued at $36,000. Allworth Financial LP acquired a new position in Circle Internet Group in the 2nd quarter valued at $37,000. Finally, Chilton Capital Management LLC acquired a new position in Circle Internet Group in the 2nd quarter valued at $40,000.

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.

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