Sanford C. Bernstein Begins Coverage on Circle Internet Group (NYSE:CRCL)

Research analysts at Sanford C. Bernstein initiated 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 "outperform" rating and a $230.00 price target on the stock. Sanford C. Bernstein's target price would indicate a potential upside of 27.34% from the stock's previous close.

Several other equities analysts have also recently weighed in on CRCL. Wall Street Zen cut Circle Internet Group from a "hold" rating to a "sell" rating in a research report on Friday. JPMorgan Chase & Co. initiated coverage on Circle Internet Group in a report on Monday. They set an "underweight" rating and a $80.00 price target for the company. Oppenheimer began coverage on shares of Circle Internet Group in a research note on Monday. They issued a "market perform" rating on the stock. Compass Point assumed coverage on shares of Circle Internet Group in a report on Tuesday, June 24th. They issued a "neutral" rating and a $205.00 price target for the company. Finally, Canaccord Genuity Group started coverage on shares of Circle Internet Group in a research report on Monday. They issued a "buy" rating and a $247.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $187.14.

Circle Internet Group Price Performance

Shares of NYSE:CRCL opened at $180.62 on Monday. Circle Internet Group has a 1 year low of $64.00 and a 1 year high of $298.99. The firm has a market capitalization of $40.20 billion and a P/E ratio of -14,273.75.

Insider Activity

In other Circle Internet Group news, insider Nikhil Chandhok sold 300,000 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $29.30, for a total transaction of $8,790,000.00. Following the sale, the insider now owns 605,580 shares of the company's stock, valued at $17,743,494. This represents a 33.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Catalyst Group Vi L.P General sold 3,550,724 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $29.30, for a total transaction of $104,036,213.20. Following the sale, the insider now directly owns 20,120,769 shares in the company, valued at $589,538,531.70. This trade represents a 15.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,682,884 shares of company stock worth $195,808,501.

About Circle Internet Group

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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