Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report)'s stock price was up 1.2% during mid-day trading on Thursday . The company traded as high as $209.57 and last traded at $203.18. Approximately 7,178,482 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 40,303,977 shares. The stock had previously closed at $200.68.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on CRCL shares. The Goldman Sachs Group started coverage on Circle Internet Group in a research note on Monday, June 30th. They issued a "neutral" rating and a $83.00 price objective on the stock. Canaccord Genuity Group started coverage on Circle Internet Group in a research note on Monday, June 30th. They issued a "buy" rating and a $247.00 price objective on the stock. Needham & Company LLC started coverage on Circle Internet Group in a research note on Monday, June 30th. They issued a "buy" rating and a $250.00 price objective on the stock. Wall Street Zen downgraded Circle Internet Group from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Finally, Mizuho started coverage on Circle Internet Group in a research note on Tuesday. They issued an "underperform" rating and a $85.00 price objective on the stock. Three 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 company's stock. According to data from MarketBeat, Circle Internet Group currently has a consensus rating of "Hold" and an average price target of $179.30.
Check Out Our Latest Analysis on CRCL
Circle Internet Group Price Performance
The stock has a market cap of $44.94 billion and a price-to-earnings ratio of -15,960.17.
Insider Activity
In other Circle Internet Group news, CFO Jeremy Fox-Geen sold 200,000 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $29.30, for a total value of $5,860,000.00. Following the transaction, the chief financial officer owned 320,371 shares of the company's stock, valued at $9,386,870.30. This represents a 38.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jeremy Allaire sold 1,582,160 shares of the company'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. In the last quarter, insiders have sold 6,682,884 shares of company stock worth $195,808,501.
Hedge Funds Weigh In On Circle Internet Group
Hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC bought a new position in Circle Internet Group in the 2nd quarter valued at $673,000. Baader Bank Aktiengesellschaft bought a new position in Circle Internet Group in the 2nd quarter valued at $1,083,000. Exchange Traded Concepts LLC bought a new position in Circle Internet Group in the 2nd quarter valued at $18,397,000. Westbourne Investments Inc. bought a new position in Circle Internet Group in the 2nd quarter valued at $204,000. Finally, Brand Asset Management Group Inc. bought a new position in Circle Internet Group in the 2nd quarter valued at $272,000.
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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