Circle Internet Group (NYSE:CRCL) Coverage Initiated at Rothschild & Co Redburn

Investment analysts at Rothschild & Co Redburn began coverage on shares of Circle Internet Group (NYSE:CRCL) in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The firm set a “neutral” rating and a $136.00 price target on the stock. Rothschild & Co Redburn’s target price would indicate a potential downside of 6.73% from the company’s current price.

A number of other brokerages have also recently issued reports on CRCL. Seaport Res Ptn upgraded Circle Internet Group to a “strong-buy” rating in a research note on Friday, June 20th. Deutsche Bank Aktiengesellschaft dropped their price objective on Circle Internet Group from $163.00 to $123.00 and set a “hold” rating on the stock in a research note on Wednesday, August 20th. Barclays started coverage on Circle Internet Group in a research note on Monday, June 30th. They set an “overweight” rating and a $215.00 price objective on the stock. Redburn Partners set a $136.00 price objective on Circle Internet Group in a research note on Friday. Finally, Oppenheimer started coverage on Circle Internet Group in a research note on Friday, September 12th. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $165.54.

Circle Internet Group Trading Down 2.6%

Shares of Circle Internet Group stock opened at $145.81 on Friday. Circle Internet Group has a 12-month low of $64.00 and a 12-month high of $298.99. The company has a market cap of $33.45 billion and a PE ratio of -11,522.92. The business’s 50 day moving average is $140.53.

Insiders Place Their Bets

In related news, CFO Jeremy Fox-Geen sold 33,608 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $121.45, for a total value of $4,081,691.60. Following the sale, the chief financial officer owned 297,823 shares in the company, valued at approximately $36,170,603.35. This represents a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nikhil Chandhok sold 50,000 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $127.08, for a total value of $6,354,000.00. Following the completion of the sale, the insider owned 530,803 shares in the company, valued at approximately $67,454,445.24. This trade represents a 8.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 831,014 shares of company stock worth $105,416,046 in the last quarter.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC bought a new position in Circle Internet Group during the 2nd quarter worth $27,000. North Star Investment Management Corp. bought a new position in Circle Internet Group during the 2nd quarter worth $34,000. Hennessy Advisors Inc. bought a new position in Circle Internet Group during the 2nd quarter worth $36,000. Allworth Financial LP bought a new position in Circle Internet Group during the 2nd quarter worth $37,000. Finally, Chilton Capital Management LLC bought a new position in Circle Internet Group during the 2nd quarter worth $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.