Rothschild & Co Redburn Begins Coverage on Circle Internet Group (NYSE:CRCL)

Key Points

• Rothschild & Co Redburn has initiated coverage on Circle Internet Group (NYSE:CRCL) with a neutral rating and a price target of $136.00, indicating a potential downside of 9.39% from its current price.
• Circle Internet Group has received a mix of ratings from various analysts, with one Strong Buy, four Buy, nine Hold, and three Sell ratings, leading to an average rating of "Hold."
• Insider trading activity has seen significant share sales, with insiders selling a total of 831,014 shares valued at over $105 million in the past three months.

Investment analysts at Rothschild & Co Redburn initiated coverage on shares of Circle Internet Group (NYSE:CRCL - Get Free Report) in a research note issued to investors on Friday,Benzinga reports. The firm set a "neutral" rating and a $136.00 price target on the stock. Rothschild & Co Redburn's price target indicates a potential downside of 9.39% from the stock's current price.

Other equities research analysts also recently issued research reports about the stock. Compass Point downgraded shares of Circle Internet Group from a "neutral" rating to a "sell" rating and cut their target price for the stock from $205.00 to $130.00 in a research report on Monday, July 21st. The Goldman Sachs Group started coverage on shares of Circle Internet Group in a research note on Tuesday, August 12th. They set a "neutral" rating and a $83.00 target price on the stock. Sanford C. Bernstein started coverage on shares of Circle Internet Group in a research note on Monday, June 30th. They set an "outperform" rating and a $230.00 target price on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Circle Internet Group from $163.00 to $123.00 and set a "hold" rating on the stock in a research note on Wednesday, August 20th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Circle Internet Group from $80.00 to $89.00 and gave the company an "underweight" rating in a research note on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Circle Internet Group has an average rating of "Hold" and a consensus price target of $165.54.

Circle Internet Group Price Performance

Shares of CRCL stock opened at $150.09 on Friday. The company has a market cap of $34.43 billion and a PE ratio of -11,860.91. Circle Internet Group has a 1 year low of $64.00 and a 1 year high of $298.99. The firm's fifty day simple moving average is $141.47.

Insider Activity

In related news, insider Nikhil Chandhok sold 50,000 shares of the 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 sale, the insider directly owned 530,803 shares of the company's stock, valued at approximately $67,454,445.24. This represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Rajeev V. Date sold 33,400 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $127.08, for a total transaction of $4,244,472.00. Following the transaction, the director directly owned 248,663 shares in the company, valued at approximately $31,600,094.04. The trade was a 11.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 831,014 shares of company stock valued at $105,416,046 in the last three months.

Institutional Investors Weigh In On Circle Internet Group

A number of institutional investors have recently made changes to their positions in CRCL. EverSource Wealth Advisors LLC purchased a new position in shares of Circle Internet Group in the second quarter valued at approximately $27,000. North Star Investment Management Corp. acquired a new position in shares of Circle Internet Group in the 2nd quarter valued at $34,000. Hennessy Advisors Inc. acquired a new position in shares of Circle Internet Group in the 2nd quarter valued at $36,000. Allworth Financial LP acquired a new position in shares of Circle Internet Group in the 2nd quarter valued at $37,000. Finally, Chilton Capital Management LLC acquired a new position in shares of Circle Internet Group in the 2nd quarter valued at $40,000.

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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