Circle Internet Group (NYSE:CRCL) PT Set at $185.00 by Robert W. Baird

Circle Internet Group (NYSE:CRCL) has been assigned a $185.00 price objective by investment analysts at Robert W. Baird in a research note issued on Wednesday, MarketBeat reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 28.20% from the company’s current price.

Several other research firms have also commented on CRCL. Wall Street Zen lowered shares of Circle Internet Group from a “hold” rating to a “sell” rating in a research note on Friday, June 27th. Needham & Company LLC initiated coverage on Circle Internet Group in a research report on Wednesday, July 16th. They issued a “buy” rating for the company. JPMorgan Chase & Co. assumed coverage on Circle Internet Group in a research report on Monday, June 30th. They set an “underweight” rating and a $80.00 target price on the stock. Mizuho set a $85.00 price target on Circle Internet Group in a research note on Tuesday. Finally, Citigroup assumed coverage on Circle Internet Group in a research note on Monday, June 30th. They set a “buy” rating and a $243.00 price target on the stock. Four equities 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 company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $173.00.

Circle Internet Group Price Performance

CRCL stock traded up $5.08 during trading on Wednesday, hitting $144.31. 7,296,386 shares of the company’s stock traded hands, compared to its average volume of 27,415,215. Circle Internet Group has a 1 year low of $64.00 and a 1 year high of $298.99. The stock’s fifty day moving average price is $183.99. The company has a market capitalization of $32.11 billion and a price-to-earnings ratio of -11,404.30.

Insider Activity at Circle Internet Group

In related news, CEO Jeremy Allaire sold 1,582,160 shares of the business’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $29.30, for a total transaction of $46,357,288.00. The transaction was disclosed in a 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 on Friday, June 6th. The shares were sold at an average price of $29.30, for a total transaction of $104,036,213.20. Following the completion of the sale, the insider directly owned 20,120,769 shares in the company, valued at approximately $589,538,531.70. The trade was 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 worth $195,808,501 in the last ninety days.

Hedge Funds Weigh In On Circle Internet Group

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