Robert W. Baird Has Lowered Expectations for Circle Internet Group (NYSE:CRCL) Stock Price

Circle Internet Group (NYSE:CRCL) had its price objective decreased by equities researchers at Robert W. Baird from $210.00 to $185.00 in a research note issued to investors on Wednesday, MarketBeat reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 32.62% from the company’s current price.

Several other brokerages also recently commented on CRCL. Baird R W upgraded shares of Circle Internet Group to a “hold” rating in a research report on Friday, July 11th. Mizuho set a $85.00 target price on shares of Circle Internet Group in a research note on Tuesday. Barclays initiated coverage on shares of Circle Internet Group in a research note on Monday, June 30th. They set an “overweight” rating and a $215.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Circle Internet Group in a research report on Tuesday. They set a “hold” rating and a $155.00 target price for the company. Finally, The Goldman Sachs Group assumed coverage on Circle Internet Group in a research report on Tuesday. They set a “neutral” rating and a $83.00 target price for the company. Four research analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Circle Internet Group presently has an average rating of “Hold” and an average price target of $173.00.

Circle Internet Group Trading Down 8.9%

NYSE CRCL opened at $139.50 on Wednesday. Circle Internet Group has a 1-year low of $64.00 and a 1-year high of $298.99. The company has a 50 day simple moving average of $183.99. The firm has a market capitalization of $31.04 billion and a P/E ratio of -11,024.18.

Insider Transactions at Circle Internet Group

In other news, Director Patrick Sean Neville sold 1,000,000 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $29.30, for a total transaction of $29,300,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nikhil Chandhok sold 300,000 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $29.30, for a total transaction of $8,790,000.00. Following the transaction, the insider directly owned 605,580 shares of the company’s stock, valued at $17,743,494. This represents a 33.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,682,884 shares of company stock worth $195,808,501.

Institutional Inflows and Outflows

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

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.