Circle Internet Group (NYSE:CRCL) Given New $94.00 Price Target at JPMorgan Chase & Co.

Circle Internet Group (NYSE:CRCL) had its price target lifted by equities researchers at JPMorgan Chase & Co. from $93.00 to $94.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 6.19% from the company’s current price.

CRCL has been the topic of several other reports. Weiss Ratings reissued a “sell (d)” rating on shares of Circle Internet Group in a research report on Wednesday, October 8th. Citigroup assumed coverage on Circle Internet Group in a report on Tuesday, September 30th. They issued a “market perform” rating on the stock. Compass Point lowered shares of Circle Internet Group from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $205.00 to $130.00 in a research report on Monday, July 21st. Monness Crespi & Hardt assumed coverage on shares of Circle Internet Group in a research report on Monday. They set a “buy” rating and a $150.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Circle Internet Group from $163.00 to $123.00 and set a “hold” rating for the company in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $164.47.

Circle Internet Group Stock Performance

Circle Internet Group stock traded down $3.90 during midday trading on Tuesday, reaching $100.20. The stock had a trading volume of 2,663,903 shares, compared to its average volume of 18,091,305. Circle Internet Group has a twelve month low of $64.00 and a twelve month high of $298.99. The firm has a fifty day moving average of $129.25.

Circle Internet Group (NYSE:CRCL) last released its earnings results on Tuesday, August 12th. The company reported ($4.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($4.82). The firm had revenue of $658.08 million during the quarter, compared to the consensus estimate of $645.35 million. The firm’s revenue for the quarter was up 53.0% on a year-over-year basis.

Insider Buying and Selling at Circle Internet Group

In related news, insider Nikhil Chandhok sold 50,000 shares of Circle Internet Group stock in a transaction on Monday, August 18th. The shares were sold at an average price of $127.08, for a total value of $6,354,000.00. Following the completion of the sale, the insider owned 530,803 shares of the company’s stock, valued at approximately $67,454,445.24. The trade was a 8.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rajeev V. Date sold 33,400 shares of the stock in a transaction on Monday, August 18th. The stock was 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 $31,600,094.04. The trade was a 11.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 831,014 shares of company stock worth $105,416,046 in the last ninety days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. General Catalyst Group Management LLC acquired a new position in Circle Internet Group during the second quarter valued at approximately $3,647,694,000. Marshall Wace LLP bought a new stake in shares of Circle Internet Group during the 2nd quarter worth $1,547,214,000. Vanguard Group Inc. grew its stake in Circle Internet Group by 61.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock valued at $739,624,000 after buying an additional 2,126,072 shares during the last quarter. ARK Investment Management LLC bought a new position in Circle Internet Group in the 2nd quarter worth $530,165,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Circle Internet Group by 282.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,299,374 shares of the company’s stock worth $172,271,000 after acquiring an additional 959,309 shares during the period.

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.