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

Circle Internet Group (NYSE:CRCL) was upgraded by analysts at Baird R W from a “hold” rating to a “strong-buy” rating in a research report issued on Friday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Compass Point downgraded shares of Circle Internet Group from a “neutral” rating to a “sell” rating and lowered their target price for the company from $205.00 to $130.00 in a research note on Monday, July 21st. Deutsche Bank Aktiengesellschaft dropped their price target on Circle Internet Group from $147.00 to $90.00 and set a “hold” rating on the stock in a research note on Thursday. Rothschild & Co Redburn initiated coverage on Circle Internet Group in a research note on Friday, October 3rd. They issued a “neutral” rating and a $136.00 target price for the company. William Blair restated an “outperform” rating on shares of Circle Internet Group in a research note on Wednesday. Finally, Rothschild Redb raised shares of Circle Internet Group to a “hold” rating in a report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Circle Internet Group has a consensus rating of “Hold” and a consensus target price of $150.53.

Circle Internet Group Price Performance

CRCL traded down $0.53 on Friday, 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 fifty day simple moving average 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 released its quarterly earnings results on Wednesday, November 12th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.20 by $0.44. The firm had revenue of $739.76 million for the quarter. The firm’s revenue for the quarter was up 65.9% compared to the same quarter last year.

Insider Transactions at Circle Internet Group

In other news, Director Rajeev V. Date sold 33,400 shares of the firm’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 $4,244,472.00. Following the transaction, the director owned 248,663 shares in the company, valued at $31,600,094.04. This trade represents a 11.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeremy Allaire sold 357,812 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 value of $45,470,748.96. The SEC filing for this sale provides additional information. Insiders sold a total of 831,014 shares of company stock worth $105,416,046 in the last three months.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRCL. Brand Asset Management Group Inc. purchased a new stake in shares of Circle Internet Group during the 2nd quarter worth $272,000. Westbourne Investments Inc. acquired a new position in shares of Circle Internet Group during the 2nd quarter worth about $204,000. Baader Bank Aktiengesellschaft purchased a new position in shares of Circle Internet Group in the 2nd quarter valued at about $1,083,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Circle Internet Group during the 2nd quarter worth about $673,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Circle Internet Group during the second quarter worth approximately $18,397,000.

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.