Circle Internet Group (NYSE:CRCL) Given New $185.00 Price Target at Robert W. Baird

Circle Internet Group (NYSE:CRCL) had its price target dropped by investment analysts at Robert W. Baird from $210.00 to $185.00 in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price target points to a potential upside of 32.62% from the company’s current price.

A number of other brokerages have also recently commented on CRCL. Canaccord Genuity Group began coverage on shares of Circle Internet Group in a research note on Monday, June 30th. They set a “buy” rating and a $247.00 price objective on the stock. Sanford C. Bernstein assumed coverage on Circle Internet Group in a research note on Monday, June 30th. They set an “outperform” rating and a $230.00 target price for the company. Compass Point downgraded shares of Circle Internet Group from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $205.00 to $130.00 in a report on Monday, July 21st. The Goldman Sachs Group began coverage on Circle Internet Group in a research note on Tuesday. They set a “neutral” rating and a $83.00 price objective for the company. Finally, Seaport Res Ptn upgraded Circle Internet Group to a “strong-buy” rating in a report on Friday, June 20th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Circle Internet Group has a consensus rating of “Hold” and a consensus target price of $173.00.

Circle Internet Group Trading Down 8.9%

Shares of CRCL stock opened at $139.50 on Wednesday. The firm has a market cap of $31.04 billion and a PE ratio of -11,024.18. Circle Internet Group has a 52-week low of $64.00 and a 52-week high of $298.99. The company has a 50-day moving average of $183.99.

Insider Buying and Selling

In other Circle Internet Group news, CEO Jeremy Allaire sold 1,582,160 shares of Circle Internet Group stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $29.30, for a total transaction of $46,357,288.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Catalyst Group Vi L.P General sold 3,550,724 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $29.30, for a total transaction of $104,036,213.20. Following the completion of the transaction, the insider owned 20,120,769 shares in the company, valued at approximately $589,538,531.70. This represents a 15.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,682,884 shares of company stock valued at $195,808,501 in the last ninety days.

Institutional Investors Weigh In On Circle Internet Group

Several large investors have recently added to or reduced their stakes in CRCL. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Circle Internet Group during the second quarter worth approximately $673,000. PFG Investments LLC purchased a new stake in shares of Circle Internet Group in the 2nd quarter valued at approximately $579,000. EWA LLC purchased a new stake in shares of Circle Internet Group in the 2nd quarter valued at approximately $279,000. Covenant Asset Management LLC acquired a new stake in shares of Circle Internet Group in the 2nd quarter valued at $363,000. Finally, KG&L Capital Management LLC purchased a new stake in shares of Circle Internet Group during the 2nd quarter worth $528,000.

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.