Circle Internet Group's (CRCL) "Buy" Rating Reiterated at Needham & Company LLC

Key Points

• Needham & Company LLC has reiterated its "buy" rating for Circle Internet Group (CRCL) with a target price of $250.00, indicating a potential upside of 118.44% from the current stock price.
• Circle Internet Group's stock has received mixed ratings, with one "Strong Buy," five "Buy," five "Hold," and three "Sell" ratings, resulting in a consensus rating of "Hold" and a target price of $170.91.
• Insiders have recently sold a significant amount of stock, with total sales over the last ninety days reaching $105.4 million, indicating potential concerns about the company's future performance.

Circle Internet Group (NYSE:CRCL - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Needham & Company LLC in a research report issued on Monday,Benzinga reports. They presently have a $250.00 target price on the stock. Needham & Company LLC's target price would suggest a potential upside of 118.44% from the stock's current price.

A number of other research analysts have also weighed in on the company. Citigroup initiated coverage on Circle Internet Group in a research report on Monday, June 30th. They set a "buy" rating and a $243.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Circle Internet Group in a research report on Tuesday, August 12th. They set a "neutral" rating and a $83.00 price target for the company. Mizuho set a $85.00 price target on shares of Circle Internet Group in a research report on Tuesday, August 12th. Wall Street Zen downgraded shares of Circle Internet Group from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Finally, JPMorgan Chase & Co. raised their price target on shares of Circle Internet Group from $80.00 to $89.00 and gave the company an "underweight" rating in a research report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $170.91.

Circle Internet Group Trading Down 2.6%

CRCL stock opened at $114.45 on Monday. Circle Internet Group has a twelve month low of $64.00 and a twelve month high of $298.99. The company has a market cap of $26.26 billion and a price-to-earnings ratio of -9,044.57. The company's 50 day moving average is $168.43.

Insider Buying and Selling at Circle Internet Group

In other news, insider Nikhil Chandhok sold 50,000 shares of Circle Internet Group stock in a transaction on Monday, August 18th. The shares were sold at an average price of $127.08, for a total transaction of $6,354,000.00. Following the transaction, the insider owned 530,803 shares in the company, valued at $67,454,445.24. This trade represents a 8.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Jeremy Fox-Geen sold 33,608 shares of Circle Internet Group stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $121.45, for a total transaction of $4,081,691.60. Following the transaction, the chief financial officer owned 297,823 shares in the company, valued at $36,170,603.35. This represents a 10.14% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 831,014 shares of company stock worth $105,416,046.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Infini Capital Management Ltd purchased a new position in shares of Circle Internet Group during the 2nd quarter valued at $1,124,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Circle Internet Group during the 2nd quarter valued at $725,000. Claris Financial LLC purchased a new position in shares of Circle Internet Group during the 2nd quarter valued at $749,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Circle Internet Group during the 2nd quarter valued at $1,953,000. Finally, Marex Group plc purchased a new position in shares of Circle Internet Group during the 2nd quarter valued at $3,321,000.

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.

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