Circle Internet Group (NYSE:CRCL) Coverage Initiated at Citigroup

Equities research analysts at Citigroup assumed coverage on shares of Circle Internet Group (NYSE:CRCL) in a report issued on Monday, MarketBeat reports. The brokerage set a “buy” rating and a $243.00 price target on the stock. Citigroup’s price target would suggest a potential upside of 25.72% from the company’s previous close.

A number of other brokerages have also weighed in on CRCL. Sanford C. Bernstein assumed coverage on shares of Circle Internet Group in a research note on Monday. They issued an “outperform” rating and a $230.00 price target for the company. Seaport Res Ptn raised shares of Circle Internet Group to a “strong-buy” rating in a research note on Friday, June 20th. Barclays assumed coverage on shares of Circle Internet Group in a research note on Monday. They issued an “overweight” rating and a $215.00 price target for the company. Wall Street Zen lowered shares of Circle Internet Group from a “hold” rating to a “sell” rating in a research note on Friday, June 27th. Finally, Compass Point started coverage on shares of Circle Internet Group in a research note on Tuesday, June 24th. They issued a “neutral” rating and a $205.00 price target for the company. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $189.78.

Circle Internet Group Stock Up 6.6%

Shares of NYSE:CRCL opened at $193.29 on Monday. The company has a market capitalization of $43.01 billion and a PE ratio of -15,275.01. Circle Internet Group has a twelve month low of $64.00 and a twelve month high of $298.99.

Insider Buying and Selling at Circle Internet Group

In related news, CFO Jeremy Fox-Geen sold 200,000 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $29.30, for a total transaction of $5,860,000.00. Following the completion of the sale, the chief financial officer directly owned 320,371 shares of the company’s stock, valued at $9,386,870.30. This represents a 38.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nikhil Chandhok sold 300,000 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $29.30, for a total transaction of $8,790,000.00. Following the sale, the insider directly owned 605,580 shares of the company’s stock, valued at approximately $17,743,494. This represents a 33.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,682,884 shares of company stock valued at $195,808,501.

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.