Circle Internet Group (NYSE:CRCL) Trading 5.1% Higher - What's Next?

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) shares traded up 5.1% during mid-day trading on Thursday . The stock traded as high as $192.50 and last traded at $186.98. 10,776,412 shares changed hands during trading, a decline of 76% from the average session volume of 44,309,797 shares. The stock had previously closed at $177.97.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CRCL shares. JPMorgan Chase & Co. began coverage on Circle Internet Group in a report on Monday. They set an "underweight" rating and a $80.00 price objective for the company. Needham & Company LLC assumed coverage on shares of Circle Internet Group in a research note on Monday. They issued a "buy" rating and a $250.00 price objective on the stock. Oppenheimer started coverage on shares of Circle Internet Group in a research report on Monday. They set a "market perform" rating for the company. Barclays assumed coverage on Circle Internet Group in a research note on Monday. They set an "overweight" rating and a $215.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft started coverage on Circle Internet Group in a research report on Monday. They set a "hold" rating and a $155.00 target price for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Circle Internet Group presently has an average rating of "Hold" and an average price target of $189.78.

Circle Internet Group Price Performance

The stock has a market cap of $42.01 billion and a PE ratio of -14,917.81.

Insider Buying and Selling

In other news, Director Patrick Sean Neville sold 1,000,000 shares of Circle Internet Group stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $29.30, for a total value of $29,300,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rajeev V. Date sold 50,000 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 $1,465,000.00. Following the transaction, the director owned 238,513 shares in the company, valued at $6,988,430.90. This represents a 17.33% decrease in their ownership of the stock. 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.

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.

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