Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for Circle Internet Group (NYSE:CRCL) Stock Price

Circle Internet Group (NYSE:CRCL) had its price objective cut by equities research analysts at Deutsche Bank Aktiengesellschaft from $147.00 to $90.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 10.00% from the stock’s current price.

A number of other research firms also recently commented on CRCL. JPMorgan Chase & Co. upgraded Circle Internet Group from an “underweight” rating to an “overweight” rating and increased their target price for the company from $94.00 to $100.00 in a research report on Thursday. Compass Point lowered shares of Circle Internet Group from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $205.00 to $130.00 in a research report on Monday, July 21st. William Blair reissued an “outperform” rating on shares of Circle Internet Group in a research note on Wednesday. Canaccord Genuity Group restated a “buy” rating and issued a $247.00 target price on shares of Circle Internet Group in a report on Thursday, September 11th. Finally, Needham & Company LLC decreased their target price on shares of Circle Internet Group from $250.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $150.53.

Circle Internet Group Stock Down 0.6%

CRCL opened at $81.82 on Thursday. The firm’s 50-day moving average is $126.80. Circle Internet Group has a 52 week low of $64.00 and a 52 week high of $298.99.

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

Insiders Place Their Bets

In other news, Director Rajeev V. Date sold 33,400 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were 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 in the company, valued at approximately $31,600,094.04. This trade represents a 11.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the chief financial officer directly owned 297,823 shares of the company’s stock, valued at approximately $36,170,603.35. This represents a 10.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 831,014 shares of company stock valued at $105,416,046.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CRCL. ARK Investment Management LLC bought a new stake in shares of Circle Internet Group during the 2nd quarter worth approximately $530,165,000. Huntleigh Advisors Inc. bought a new position in Circle Internet Group in the 2nd quarter valued at $470,000. Covenant Asset Management LLC purchased a new stake in Circle Internet Group in the second quarter worth $363,000. Yong Rong HK Asset Management Ltd bought a new stake in shares of Circle Internet Group during the second quarter worth $19,942,000. Finally, Acorn Financial Advisory Services Inc. ADV bought a new stake in shares of Circle Internet Group during the second quarter worth $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.