Circle Internet Group (NYSE:CRCL) Given New $100.00 Price Target at Robert W. Baird

Circle Internet Group (NYSE:CRCL) had its target price reduced by investment analysts at Robert W. Baird from $138.00 to $100.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target points to a potential upside of 50.66% from the company’s previous close.

CRCL has been the subject of a number of other research reports. Clear Str upgraded Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 16th. The Goldman Sachs Group decreased their target price on shares of Circle Internet Group from $111.00 to $96.00 and set a “neutral” rating for the company in a research note on Thursday, July 2nd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $160.00 price objective on shares of Circle Internet Group in a research report on Wednesday, March 25th. Wells Fargo & Company increased their price target on Circle Internet Group from $111.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Finally, Needham & Company LLC upped their price objective on shares of Circle Internet Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $115.00.

Circle Internet Group Trading Up 0.4%

Shares of NYSE:CRCL opened at $66.37 on Monday. The company’s 50 day moving average is $91.55 and its two-hundred day moving average is $88.53. The company has a market cap of $16.50 billion and a PE ratio of -20.74. Circle Internet Group has a 52 week low of $49.90 and a 52 week high of $262.97.

Circle Internet Group (NYSE:CRCL) last released its quarterly earnings data on Monday, May 11th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.06). The business had revenue of $694.13 million during the quarter. Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The company’s quarterly revenue was up 20.0% on a year-over-year basis. As a group, equities research analysts expect that Circle Internet Group will post 1.02 EPS for the current year.

Insiders Place Their Bets

In other Circle Internet Group news, insider Nikhil Chandhok sold 26,666 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $63.90, for a total transaction of $1,703,957.40. Following the completion of the transaction, the insider directly owned 725,068 shares in the company, valued at approximately $46,331,845.20. This trade represents a 3.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jeremy Allaire sold 3,032 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $67.16, for a total value of $203,629.12. Following the completion of the sale, the chief executive officer directly owned 63,346 shares in the company, valued at approximately $4,254,317.36. The trade was a 4.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 1,966,527 shares of company stock worth $156,751,921. 10.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. General Catalyst Group Management LLC acquired a new stake in Circle Internet Group during the second quarter worth approximately $3,647,694,000. Marshall Wace LLP lifted its position in Circle Internet Group by 23.8% during the fourth quarter. Marshall Wace LLP now owns 9,978,729 shares of the company’s stock worth $791,313,000 after buying an additional 1,919,205 shares during the period. IDG Accel China Capital II Associates L.P. acquired a new stake in Circle Internet Group in the 4th quarter worth about $554,792,000. Accel XI Associates L.L.C. purchased a new stake in Circle Internet Group in the 4th quarter valued at about $513,844,000. Finally, Vanguard Group Inc. increased its stake in shares of Circle Internet Group by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 5,653,110 shares of the company’s stock valued at $448,292,000 after acquiring an additional 74,414 shares during the last quarter.

About Circle Internet Group

Circle Internet Group (NYSE: CRCL) is a financial technology company that builds infrastructure to enable businesses and developers to use and move money on public blockchains. Co-founded by Jeremy Allaire and Sean Neville, the company is best known as a principal issuer and steward of USDC, a dollar-pegged stablecoin developed through the CENTRE Consortium, which Circle co-founded with Coinbase. Jeremy Allaire serves as CEO and has been a visible leader in the company’s strategy and public engagement around digital currency and payments innovation.

Circle’s core products and services center on digital currency issuance and programmable payments.