JPMorgan Chase & Co. Initiates Coverage on Circle Internet Group (NYSE:CRCL)

Research analysts at JPMorgan Chase & Co. began coverage on shares of Circle Internet Group (NYSE:CRCL - Get Free Report) in a report released on Monday,Briefing.com Automated Import reports. The firm set an "underweight" rating and a $80.00 price target on the stock. JPMorgan Chase & Co.'s price target would suggest a potential downside of 55.71% from the company's previous close.

Several other equities analysts also recently issued reports on CRCL. Compass Point started coverage on shares of Circle Internet Group in a report on Tuesday, June 24th. They set a "neutral" rating and a $205.00 price target for the company. Canaccord Genuity Group started coverage on shares of Circle Internet Group in a report on Monday. They set a "buy" rating and a $247.00 target price for the company. Wall Street Zen lowered shares of Circle Internet Group from a "hold" rating to a "sell" rating in a report on Friday. Needham & Company LLC started coverage on shares of Circle Internet Group in a report on Monday. They issued a "buy" rating and a $250.00 price target for the company. Finally, Seaport Res Ptn upgraded Circle Internet Group to a "strong-buy" rating in a report on Friday, June 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $187.14.

Circle Internet Group Trading Down 15.5%

CRCL opened at $180.62 on Monday. The company has a market cap of $40.20 billion and a PE ratio of -14,273.75. Circle Internet Group has a 1 year low of $64.00 and a 1 year high of $298.99.

Insider Transactions at Circle Internet Group

In other news, CFO Jeremy Fox-Geen sold 200,000 shares of Circle Internet Group stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $29.30, for a total value of $5,860,000.00. Following the completion of the sale, the chief financial officer now directly owns 320,371 shares in the company, valued at approximately $9,386,870.30. The trade was a 38.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rajeev V. Date sold 50,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $29.30, for a total value of $1,465,000.00. Following the completion of the sale, the director now owns 238,513 shares of the company's stock, valued at approximately $6,988,430.90. This trade represents a 17.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,682,884 shares of company stock worth $195,808,501.

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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