Circle Internet Group (NYSE:CRCL) Given a $185.00 Price Target by Robert W. Baird Analysts

Circle Internet Group (NYSE:CRCL) has been given a $185.00 target price by equities research analysts at Robert W. Baird in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 32.62% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on CRCL. Compass Point downgraded 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 research report on Monday, July 21st. Needham & Company LLC began coverage on Circle Internet Group in a research note on Wednesday, July 16th. They set a “buy” rating on the stock. Wall Street Zen cut Circle Internet Group from a “hold” rating to a “sell” rating in a research note on Friday, June 27th. Deutsche Bank Aktiengesellschaft began coverage on Circle Internet Group in a research note on Tuesday. They set a “hold” rating and a $155.00 target price on the stock. Finally, Mizuho set a $85.00 target price on Circle Internet Group in a research note on Tuesday. Four analysts have rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $173.00.

Circle Internet Group Stock Performance

Shares of CRCL stock 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’s 50 day moving average is $183.99. The stock has a market capitalization of $31.04 billion and a P/E ratio of -11,024.18.

Insider Buying and Selling

In related news, major shareholder Catalyst Group Vi L.P General sold 3,550,724 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $29.30, for a total value of $104,036,213.20. Following the transaction, the insider owned 20,120,769 shares of the company’s stock, valued at $589,538,531.70. This represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nikhil Chandhok sold 300,000 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $29.30, for a total value of $8,790,000.00. Following the completion of the transaction, the insider directly owned 605,580 shares in the company, valued at approximately $17,743,494. This trade represents a 33.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,682,884 shares of company stock valued at $195,808,501 over the last 90 days.

Institutional Trading of Circle Internet Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. General Catalyst Group Management LLC bought a new stake in Circle Internet Group during the 2nd quarter valued at $3,647,694,000. Marshall Wace LLP bought a new stake in Circle Internet Group during the 2nd quarter valued at $1,547,214,000. ARK Investment Management LLC bought a new stake in Circle Internet Group during the 2nd quarter valued at $530,165,000. Squarepoint Ops LLC bought a new stake in Circle Internet Group during the 2nd quarter valued at $73,101,000. Finally, Geode Capital Management LLC bought a new stake in Circle Internet Group during the 2nd quarter valued at $65,504,000.

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.