Circle Internet Group (NYSE:CRCL) Shares Up 2.6% - What's Next?

Shares of Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) were up 2.6% on Monday . The company traded as high as $231.88 and last traded at $229.67. Approximately 7,645,873 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 36,779,707 shares. The stock had previously closed at $223.78.

Analyst Ratings Changes

CRCL has been the subject of a number of analyst reports. Compass Point cut Circle Internet Group from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $205.00 to $130.00 in a research report on Monday. Barclays assumed coverage on Circle Internet Group in a research note on Monday, June 30th. They set an "overweight" rating and a $215.00 price target for the company. Citigroup assumed coverage on Circle Internet Group in a research note on Monday, June 30th. They set a "buy" rating and a $243.00 price target for the company. Oppenheimer assumed coverage on Circle Internet Group in a report on Monday, June 30th. They set a "market perform" rating on the stock. Finally, Baird R W upgraded Circle Internet Group to a "hold" rating in a report on Friday, July 11th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $175.27.

Circle Internet Group Price Performance

The firm has a market cap of $43.88 billion and a P/E ratio of -15,580.84.

Insider Activity at Circle Internet Group

In other news, Director Patrick Sean Neville sold 1,000,000 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 transaction of $29,300,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jeremy Allaire sold 1,582,160 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 $46,357,288.00. The disclosure for this sale can be found here. Insiders sold 6,682,884 shares of company stock valued at $195,808,501 over the last ninety days.

Institutional Trading of Circle Internet Group

Large investors have recently modified their holdings of the stock. North Star Investment Management Corp. purchased a new position in Circle Internet Group in the second quarter valued at $34,000. Hennessy Advisors Inc. purchased a new position in shares of Circle Internet Group during the second quarter worth about $36,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Circle Internet Group during the second quarter worth about $79,000. Westbourne Investments Inc. purchased a new position in shares of Circle Internet Group during the second quarter worth about $204,000. Finally, Truist Financial Corp purchased a new position in shares of Circle Internet Group during the second quarter worth about $218,000.

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.