Rothschild Redb Upgrades Circle Internet Group (NYSE:CRCL) to Hold

Circle Internet Group (NYSE:CRCL) was upgraded by equities research analysts at Rothschild Redb to a “hold” rating in a research note issued to investors on Friday,Zacks.com reports.

Several other brokerages have also commented on CRCL. Needham & Company LLC restated a “buy” rating and issued a $250.00 price target on shares of Circle Internet Group in a research note on Monday, September 8th. Compass Point downgraded Circle Internet Group from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $205.00 to $130.00 in a research report on Monday, July 21st. Wall Street Zen cut Circle Internet Group from a “hold” rating to a “sell” rating in a research report on Friday, June 27th. Baird R W upgraded Circle Internet Group to a “hold” rating in a research report on Friday, July 11th. Finally, Oppenheimer started coverage on Circle Internet Group in a research note on Friday, September 12th. They issued a “market perform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $165.54.

Circle Internet Group Stock Performance

CRCL stock opened at $145.81 on Friday. The firm has a market cap of $33.45 billion and a PE ratio of -11,522.92. The business has a 50-day moving average price of $140.53. Circle Internet Group has a fifty-two week low of $64.00 and a fifty-two week high of $298.99.

Insider Activity

In other news, insider Nikhil Chandhok sold 50,000 shares of Circle Internet Group stock in a transaction on Monday, August 18th. The stock was sold at an average price of $127.08, for a total transaction of $6,354,000.00. Following the transaction, the insider directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patrick Sean Neville sold 260,374 shares of the company’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. Insiders sold a total of 831,014 shares of company stock worth $105,416,046 in the last quarter.

Institutional Trading of Circle Internet Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brand Asset Management Group Inc. acquired a new stake in Circle Internet Group during the second quarter valued at approximately $272,000. Westbourne Investments Inc. acquired a new stake in shares of Circle Internet Group during the 2nd quarter valued at $204,000. Baader Bank Aktiengesellschaft bought a new stake in shares of Circle Internet Group during the 2nd quarter worth $1,083,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Circle Internet Group during the 2nd quarter worth $673,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Circle Internet Group in the 2nd quarter worth $18,397,000.

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.