Robert W. Baird Has Lowered Expectations for Circle Internet Group (NYSE:CRCL) Stock Price

Circle Internet Group (NYSE:CRCL) had its target price cut by research analysts at Robert W. Baird from $144.00 to $110.00 in a research note issued to investors on Thursday, Marketbeat reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 34.45% from the stock’s current price.

CRCL has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft decreased their price target on Circle Internet Group from $163.00 to $123.00 and set a “hold” rating on the stock in a research report on Wednesday, August 20th. William Blair restated an “outperform” rating on shares of Circle Internet Group in a report on Wednesday. Rothschild Redb upgraded Circle Internet Group to a “hold” rating in a research note on Friday, October 3rd. The Goldman Sachs Group began coverage on shares of Circle Internet Group in a research report on Tuesday, August 12th. They set a “neutral” rating and a $83.00 price target on the stock. Finally, Wells Fargo & Company assumed coverage on shares of Circle Internet Group in a report on Tuesday, October 21st. They set an “overweight” rating and a $160.00 price objective on the stock. One 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $150.53.

Circle Internet Group Stock Performance

CRCL opened at $81.82 on Thursday. The stock has a 50-day moving average price of $126.80. Circle Internet Group has a twelve month low of $64.00 and a twelve month high of $298.99.

Circle Internet Group (NYSE:CRCL) last released 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 company’s revenue for the quarter was up 65.9% compared to the same quarter last year.

Insiders Place Their Bets

In related news, insider Nikhil Chandhok sold 50,000 shares of the firm’s stock in a transaction dated 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 owned 530,803 shares in the company, valued at $67,454,445.24. This trade represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rajeev V. Date sold 33,400 shares of Circle Internet Group stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $127.08, for a total value of $4,244,472.00. Following the completion of the sale, the director owned 248,663 shares of the company’s stock, valued at approximately $31,600,094.04. The trade was a 11.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 831,014 shares of company stock valued at $105,416,046 over the last 90 days.

Institutional Investors Weigh In On Circle Internet Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Pilgrim Partners Asia Pte Ltd bought a new position in Circle Internet Group in the third quarter valued at approximately $27,000. EverSource Wealth Advisors LLC bought a new stake in shares of Circle Internet Group during the 2nd quarter valued at $27,000. Highline Wealth Partners LLC acquired a new position in shares of Circle Internet Group in the 3rd quarter valued at $32,000. Montag A & Associates Inc. bought a new position in shares of Circle Internet Group in the 3rd quarter worth $33,000. Finally, North Star Investment Management Corp. acquired a new stake in shares of Circle Internet Group during the second quarter worth $34,000.

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.