Needham & Company LLC Reiterates “Buy” Rating for Circle Internet Group (NYSE:CRCL)

Circle Internet Group (NYSE:CRCL)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research report issued on Monday,Benzinga reports. They currently have a $250.00 price objective on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 111.43% from the company’s previous close.

Several other research analysts have also issued reports on CRCL. Robert W. Baird cut their price target on Circle Internet Group from $210.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, August 13th. Compass Point lowered Circle Internet Group from a “neutral” rating to a “sell” rating and dropped their target price for the company from $205.00 to $130.00 in a report on Monday, July 21st. The Goldman Sachs Group assumed coverage on Circle Internet Group in a report on Tuesday, August 12th. They issued a “neutral” rating and a $83.00 target price on the stock. Seaport Res Ptn raised Circle Internet Group to a “strong-buy” rating in a research report on Friday, June 20th. Finally, Barclays assumed coverage on Circle Internet Group in a research report on Monday, June 30th. They set an “overweight” rating and a $215.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $170.91.

Circle Internet Group Trading Up 5.1%

Shares of NYSE:CRCL opened at $118.24 on Monday. The business has a 50 day moving average price of $165.60. The company has a market capitalization of $27.13 billion and a price-to-earnings ratio of -9,344.08. Circle Internet Group has a 52-week low of $64.00 and a 52-week high of $298.99.

Insider Transactions at Circle Internet Group

In other Circle Internet Group news, insider Nikhil Chandhok sold 50,000 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $127.08, for a total value of $6,354,000.00. Following the sale, the insider directly owned 530,803 shares in the company, valued at $67,454,445.24. The trade was a 8.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Patrick Sean Neville sold 260,374 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $127.08, for a total value of $33,088,327.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 831,014 shares of company stock valued at $105,416,046.

Institutional Trading of Circle Internet Group

Hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC bought a new stake in shares of Circle Internet Group during the 2nd quarter valued at $27,000. North Star Investment Management Corp. bought a new stake in shares of Circle Internet Group during the 2nd quarter valued at $34,000. Hennessy Advisors Inc. bought a new stake in shares of Circle Internet Group during the 2nd quarter valued at $36,000. Allworth Financial LP bought a new stake in shares of Circle Internet Group during the 2nd quarter valued at $37,000. Finally, Chilton Capital Management LLC bought a new stake in shares of Circle Internet Group during the 2nd quarter valued at $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.