Circle Internet Group (NYSE:CRCL) Coverage Initiated by Analysts at Canaccord Genuity Group

Analysts at Canaccord Genuity Group assumed coverage on shares of Circle Internet Group (NYSE:CRCL) in a report released on Monday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $247.00 price target on the stock. Canaccord Genuity Group’s target price points to a potential upside of 27.79% from the company’s current price.

A number of other analysts also recently weighed in on the stock. Seaport Res Ptn upgraded shares of Circle Internet Group to a “strong-buy” rating in a research report on Friday, June 20th. Compass Point started coverage on shares of Circle Internet Group in a report on Tuesday, June 24th. They issued a “neutral” rating and a $205.00 target price on the stock. Finally, Wall Street Zen cut shares of Circle Internet Group from a “hold” rating to a “sell” rating in a research report on Friday, June 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $189.78.

Circle Internet Group Trading Up 6.6%

Shares of CRCL opened at $193.29 on Monday. The stock has a market cap of $43.01 billion and a price-to-earnings ratio of -15,275.01. Circle Internet Group has a 1 year low of $64.00 and a 1 year high of $298.99.

Insider Activity

In other news, Director Rajeev V. Date sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $29.30, for a total value of $1,465,000.00. Following the completion of the transaction, the director owned 238,513 shares in the company, valued at $6,988,430.90. This represents a 17.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patrick Sean Neville sold 1,000,000 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $29.30, for a total transaction of $29,300,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,682,884 shares of company stock worth $195,808,501.

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.