The Goldman Sachs Group Begins Coverage on Circle Internet Group (NYSE:CRCL)

Investment analysts at The Goldman Sachs Group began coverage on shares of Circle Internet Group (NYSE:CRCL - Get Free Report) in a research note issued on Monday,Briefing.com Automated Import reports. The brokerage set a "neutral" rating and a $83.00 price target on the stock. The Goldman Sachs Group's target price indicates a potential downside of 54.05% from the stock's previous close.

A number of other research firms also recently commented on CRCL. Oppenheimer started coverage on shares of Circle Internet Group in a report on Monday. They set a "market perform" rating on the stock. Wall Street Zen downgraded Circle Internet Group from a "hold" rating to a "sell" rating in a research note on Friday. Compass Point initiated coverage on Circle Internet Group in a report on Tuesday, June 24th. They set a "neutral" rating and a $205.00 price objective for the company. Canaccord Genuity Group initiated coverage on Circle Internet Group in a report on Monday. They issued a "buy" rating and a $247.00 target price on the stock. Finally, Sanford C. Bernstein assumed coverage on shares of Circle Internet Group in a research report on Monday. They issued an "outperform" rating and a $230.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $187.14.

Circle Internet Group Price Performance

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 price-to-earnings ratio of -14,273.75.

Insider Buying and Selling

In other news, Director Rajeev V. Date sold 50,000 shares of the firm'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 transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nikhil Chandhok sold 300,000 shares of the company's 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 completion of the sale, the insider now owns 605,580 shares in the company, valued at approximately $17,743,494. This trade represents a 33.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,682,884 shares of company stock valued at $195,808,501 in the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.