Circle Internet Group (NYSE:CRCL) Price Target Lowered to $128.00 at Wells Fargo & Company

Circle Internet Group (NYSE:CRCL) had its price target lowered by Wells Fargo & Company from $160.00 to $128.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

CRCL has been the topic of a number of other research reports. Canaccord Genuity Group restated a “buy” rating and set a $247.00 price target on shares of Circle Internet Group in a report on Thursday, September 11th. Deutsche Bank Aktiengesellschaft decreased their price objective on Circle Internet Group from $147.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday. Citigroup began coverage on Circle Internet Group in a report on Tuesday, September 30th. They set a “market perform” rating for the company. JPMorgan Chase & Co. raised Circle Internet Group from an “underweight” rating to an “overweight” rating and increased their price target for the company from $94.00 to $100.00 in a research note on Thursday. Finally, Rothschild & Co Redburn started coverage on shares of Circle Internet Group in a research report on Friday, October 3rd. They issued a “neutral” rating and a $136.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $150.53.

Circle Internet Group Price Performance

Shares of NYSE CRCL traded down $0.53 on Thursday, hitting $81.82. The company had a trading volume of 37,480,259 shares, compared to its average volume of 12,792,506. The company has a 50 day moving average price of $126.80. Circle Internet Group has a 12-month low of $64.00 and a 12-month high of $298.99.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.44. The company had revenue of $739.76 million for the quarter. The business’s quarterly revenue was up 65.9% compared to the same quarter last year.

Insiders Place Their Bets

In other Circle Internet Group news, Director Patrick Sean Neville sold 260,374 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $127.08, for a total value of $33,088,327.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $6,354,000.00. Following the sale, the insider directly owned 530,803 shares of the company’s stock, valued at $67,454,445.24. The trade was a 8.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 831,014 shares of company stock worth $105,416,046.

Institutional Trading of Circle Internet Group

Large investors have recently modified their holdings of the company. General Catalyst Group Management LLC purchased a new position in shares of Circle Internet Group in the 2nd quarter worth approximately $3,647,694,000. Marshall Wace LLP acquired a new stake in Circle Internet Group in the 2nd quarter valued at $1,547,214,000. ARK Investment Management LLC acquired a new position in shares of Circle Internet Group during the second quarter valued at approximately $530,165,000. Vanguard Group Inc. lifted its holdings in Circle Internet Group by 61.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock valued at $739,624,000 after purchasing an additional 2,126,072 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Circle Internet Group by 282.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,299,374 shares of the company’s stock worth $172,271,000 after buying an additional 959,309 shares during the last quarter.

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.