Circle Internet Group (NYSE:CRCL) Upgraded by Baird R W to Strong-Buy Rating

Baird R W upgraded shares of Circle Internet Group (NYSE:CRCL) from a hold rating to a strong-buy rating in a research note published on Friday,Zacks.com reports.

CRCL has been the topic of several other research reports. Weiss Ratings restated a “sell (d)” rating on shares of Circle Internet Group in a research note on Wednesday, October 8th. Rothschild & Co Redburn began 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. Mizuho decreased their target price on shares of Circle Internet Group from $84.00 to $70.00 and set an “underperform” rating for the company in a research report on Friday. JPMorgan Chase & Co. raised shares of Circle Internet Group from an “underweight” rating to an “overweight” rating and boosted their price target for the stock from $94.00 to $100.00 in a research report on Thursday. Finally, Robert W. Baird decreased their price objective on Circle Internet Group from $144.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Circle Internet Group presently has a consensus rating of “Hold” and a consensus price target of $150.53.

Circle Internet Group Trading Down 0.6%

NYSE CRCL traded down $0.53 on Friday, reaching $81.82. The company had a trading volume of 37,480,259 shares, compared to its average volume of 12,792,506. The stock’s fifty day moving average price is $126.80. Circle Internet Group has a 1-year low of $64.00 and a 1-year high of $298.99.

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

Insider Buying and Selling

In related news, CFO Jeremy Fox-Geen sold 33,608 shares of Circle Internet Group stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $121.45, for a total transaction of $4,081,691.60. Following the completion of the transaction, the chief financial officer owned 297,823 shares in the company, valued at approximately $36,170,603.35. This trade represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nikhil Chandhok sold 50,000 shares of the business’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 $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 SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 831,014 shares of company stock worth $105,416,046.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. ARK Investment Management LLC bought a new stake in Circle Internet Group in the 2nd quarter valued at $530,165,000. Huntleigh Advisors Inc. acquired a new position in shares of Circle Internet Group in the second quarter valued at $470,000. Covenant Asset Management LLC bought a new position in shares of Circle Internet Group in the second quarter valued at about $363,000. Yong Rong HK Asset Management Ltd acquired a new stake in shares of Circle Internet Group during the 2nd quarter worth about $19,942,000. Finally, Acorn Financial Advisory Services Inc. ADV acquired a new stake in shares of Circle Internet Group during the 2nd quarter worth about $703,000.

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.