Deutsche Bank Aktiengesellschaft Lowers Circle Internet Group (NYSE:CRCL) Price Target to $123.00

Key Points

• Deutsche Bank Aktiengesellschaft lowered Circle Internet Group's price target from $163.00 to $123.00, indicating a potential downside of 8.97% from the current price.
• Various analysts have provided mixed ratings for the stock, with one declaring a Strong Buy, while others have issued ratings ranging from Buy to Sell.
• Circle Internet Group recently faced significant insider selling, with major shareholders selling over 6.68 million shares worth nearly $196 million in the last quarter.

Circle Internet Group (NYSE:CRCL - Get Free Report) had its price objective dropped by equities researchers at Deutsche Bank Aktiengesellschaft from $163.00 to $123.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "hold" rating on the stock. Deutsche Bank Aktiengesellschaft's price objective suggests a potential downside of 8.97% from the company's current price.

CRCL has been the topic of several other reports. Oppenheimer started coverage on Circle Internet Group in a report on Tuesday, August 12th. They issued a "market perform" rating on the stock. Citigroup began coverage on Circle Internet Group in a report on Monday, June 30th. They set a "buy" rating and a $243.00 price target on the stock. Compass Point cut Circle Internet Group from a "neutral" rating to a "sell" rating and cut their price target for the stock from $205.00 to $130.00 in a report on Monday, July 21st. Wall Street Zen cut Circle Internet Group from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Finally, Baird R W upgraded Circle Internet Group to a "hold" rating in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $170.91.

Circle Internet Group Price Performance

Shares of CRCL stock opened at $135.12 on Wednesday. The firm has a 50 day moving average of $183.03. Circle Internet Group has a one year low of $64.00 and a one year high of $298.99. The company has a market capitalization of $30.07 billion and a PE ratio of -10,678.05.

Insider Buying and Selling

In related news, major shareholder Catalyst Group Vi L.P General sold 3,550,724 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $29.30, for a total value of $104,036,213.20. Following the transaction, the insider directly owned 20,120,769 shares in the company, valued at $589,538,531.70. This trade represents a 15.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Patrick Sean Neville sold 1,000,000 shares of the stock in a transaction on Friday, June 6th. The stock was 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 sold 6,682,884 shares of company stock worth $195,808,501 over the last quarter.

Institutional Investors Weigh In On Circle Internet Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC purchased a new stake in Circle Internet Group in the 2nd quarter valued at $673,000. PFG Investments LLC purchased a new stake in shares of Circle Internet Group during the 2nd quarter valued at $579,000. EWA LLC purchased a new stake in shares of Circle Internet Group during the 2nd quarter valued at $279,000. Covenant Asset Management LLC purchased a new stake in shares of Circle Internet Group during the 2nd quarter valued at $363,000. Finally, KG&L Capital Management LLC purchased a new stake in shares of Circle Internet Group during the 2nd quarter valued at $528,000.

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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