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

Equities researchers at The Goldman Sachs Group started coverage on shares of Circle Internet Group (NYSE:CRCL - Get Free Report) in a research report issued to clients and investors on Monday, MarketBeat reports. The firm set a "neutral" rating and a $83.00 price target on the stock. The Goldman Sachs Group's price objective indicates a potential downside of 56.03% from the company's current price.

Other equities analysts have also issued reports about the stock. Sanford C. Bernstein assumed coverage on shares of Circle Internet Group in a research report on Monday. They set an "outperform" rating and a $230.00 target price on the stock. Barclays started coverage on Circle Internet Group in a report on Monday. They set an "overweight" rating and a $215.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on Circle Internet Group in a research report on Monday. They issued an "underweight" rating and a $80.00 price objective on the stock. Seaport Res Ptn upgraded Circle Internet Group to a "strong-buy" rating in a research report on Friday, June 20th. Finally, Oppenheimer began coverage on Circle Internet Group in a report on Monday. They issued a "market perform" rating on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Circle Internet Group presently has an average rating of "Hold" and an average target price of $189.78.

Circle Internet Group Stock Up 6.1%

NYSE:CRCL traded up $10.80 during mid-day trading on Monday, reaching $188.77. 17,191,952 shares of the company were exchanged, compared to its average volume of 44,653,371. The firm has a market cap of $42.01 billion and a P/E ratio of -14,917.81. Circle Internet Group has a 12 month low of $64.00 and a 12 month high of $298.99.

Insider Buying and Selling

In other Circle Internet Group news, Director Patrick Sean Neville sold 1,000,000 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $29.30, for a total transaction of $29,300,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Nikhil Chandhok sold 300,000 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $29.30, for a total value of $8,790,000.00. Following the transaction, the insider owned 605,580 shares of the company's stock, valued at $17,743,494. The trade was a 33.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,682,884 shares of company stock worth $195,808,501 over the last 90 days.

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.