Circle Internet Group (NYSE:CRCL) Upgraded to Hold at Rothschild Redb

Rothschild Redb upgraded shares of Circle Internet Group (NYSE:CRCL) to a hold rating in a research note published on Friday,Zacks.com reports.

A number of other analysts have also issued reports on the company. Barclays started coverage on Circle Internet Group in a research note on Monday, June 30th. They set an “overweight” rating and a $215.00 price objective on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on Circle Internet Group from $163.00 to $123.00 and set a “hold” rating on the stock in a research note on Wednesday, August 20th. Weiss Ratings reiterated a “sell (d)” rating on shares of Circle Internet Group in a research note on Saturday, September 27th. Robert W. Baird decreased their price objective on Circle Internet Group from $210.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 13th. Finally, Sanford C. Bernstein began coverage on Circle Internet Group in a research note on Monday, June 30th. They set an “outperform” rating and a $230.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Circle Internet Group currently has a consensus rating of “Hold” and a consensus target price of $165.54.

Circle Internet Group Stock Performance

NYSE:CRCL opened at $145.81 on Friday. Circle Internet Group has a 52-week low of $64.00 and a 52-week high of $298.99. The company has a market cap of $33.45 billion and a price-to-earnings ratio of -11,522.92. The company’s fifty day moving average is $140.53.

Insider Activity

In other news, Director Patrick Sean Neville sold 260,374 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $127.08, for a total transaction of $33,088,327.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Rajeev V. Date sold 33,400 shares of the stock in a transaction dated 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 transaction, the director owned 248,663 shares in the company, valued at $31,600,094.04. This trade represents a 11.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 831,014 shares of company stock worth $105,416,046.

Hedge Funds Weigh In On Circle Internet Group

Institutional investors have recently modified their holdings of the company. Brand Asset Management Group Inc. purchased a new stake in Circle Internet Group during the 2nd quarter valued at about $272,000. Westbourne Investments Inc. purchased a new stake in Circle Internet Group during the 2nd quarter valued at about $204,000. Baader Bank Aktiengesellschaft purchased a new stake in Circle Internet Group during the 2nd quarter valued at about $1,083,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Circle Internet Group during the 2nd quarter valued at about $673,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Circle Internet Group during the 2nd quarter valued at about $18,397,000.

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.