Circle Internet Group (NYSE:CRCL) Research Coverage Started at JMP Securities

JMP Securities started coverage on shares of Circle Internet Group (NYSE:CRCL) in a research note released on Tuesday,Benzinga reports. The firm issued a market perform rating on the stock.

Other equities research analysts also recently issued research reports about the company. Canaccord Genuity Group reiterated a “buy” rating and set a $247.00 price objective on shares of Circle Internet Group in a research report on Thursday, September 11th. Sanford C. Bernstein assumed coverage on Circle Internet Group in a research report on Monday, June 30th. They set an “outperform” rating and a $230.00 target price on the stock. Oppenheimer initiated coverage on Circle Internet Group in a report on Friday, September 12th. They set a “market perform” rating for the company. Wall Street Zen cut Circle Internet Group from a “hold” rating to a “sell” rating in a research note on Friday, June 27th. Finally, Seaport Res Ptn upgraded Circle Internet Group to a “strong-buy” rating in a report on Friday, June 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $170.91.

Circle Internet Group Stock Performance

NYSE:CRCL opened at $150.09 on Tuesday. The firm’s 50-day simple moving average is $141.47. The company has a market cap of $34.43 billion and a price-to-earnings ratio of -11,860.91. Circle Internet Group has a twelve month low of $64.00 and a twelve month high of $298.99.

Insider Buying and Selling

In other news, Director Rajeev V. Date sold 33,400 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $127.08, for a total value of $4,244,472.00. Following the completion of the sale, the director directly owned 248,663 shares of the company’s stock, valued at $31,600,094.04. This represents a 11.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jeremy Fox-Geen sold 33,608 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $121.45, for a total transaction of $4,081,691.60. Following the sale, the chief financial officer owned 297,823 shares of the company’s stock, valued at approximately $36,170,603.35. This represents a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 831,014 shares of company stock worth $105,416,046 over the last ninety days.

Hedge Funds Weigh In On Circle Internet Group

Institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC purchased a new stake in shares of Circle Internet Group during the second quarter worth $27,000. North Star Investment Management Corp. acquired a new position in Circle Internet Group in the 2nd quarter worth about $34,000. Hennessy Advisors Inc. acquired a new position in Circle Internet Group in the 2nd quarter worth about $36,000. Allworth Financial LP purchased a new stake in shares of Circle Internet Group during the 2nd quarter worth about $37,000. Finally, Chilton Capital Management LLC acquired a new stake in shares of Circle Internet Group during the 2nd quarter valued at about $40,000.

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.