Circle Internet Group, Inc. (NYSE:CRCL) Given Average Recommendation of “Hold” by Brokerages

Circle Internet Group, Inc. (NYSE:CRCL) has been assigned a consensus rating of “Hold” from the twenty-three analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $126.2941.

CRCL has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Circle Internet Group in a research report on Wednesday, January 21st. Compass Point upgraded Circle Internet Group from a “sell” rating to a “neutral” rating and set a $75.00 price objective for the company in a research report on Thursday, January 29th. William Blair reiterated an “outperform” rating on shares of Circle Internet Group in a research report on Wednesday, February 25th. Mizuho lifted their price objective on Circle Internet Group from $100.00 to $120.00 and gave the stock a “neutral” rating in a research report on Friday, March 13th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $160.00 price objective on shares of Circle Internet Group in a research report on Wednesday, March 25th.

Circle Internet Group Stock Performance

Shares of NYSE:CRCL opened at $93.86 on Wednesday. Circle Internet Group has a twelve month low of $49.90 and a twelve month high of $298.99. The firm has a market cap of $23.17 billion and a PE ratio of -50.46. The business has a fifty day moving average of $87.06 and a 200-day moving average of $95.30.

Circle Internet Group (NYSE:CRCL) last announced its earnings results on Wednesday, February 25th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.18. The business had revenue of $770.23 million during the quarter. Circle Internet Group’s revenue for the quarter was up 76.9% compared to the same quarter last year.

Insider Transactions at Circle Internet Group

In related news, President Heath Tarbert sold 15,000 shares of Circle Internet Group stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $116.04, for a total value of $1,740,600.00. Following the completion of the sale, the president directly owned 584,156 shares in the company, valued at $67,785,462.24. This trade represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patrick Sean Neville sold 30,000 shares of Circle Internet Group stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $98.04, for a total value of $2,941,200.00. Following the completion of the sale, the director owned 30,000 shares of the company’s stock, valued at approximately $2,941,200. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 525,389 shares of company stock valued at $51,054,433.

Institutional Trading of Circle Internet Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rakuten Securities Inc. acquired a new position in shares of Circle Internet Group during the 3rd quarter worth about $2,491,000. CloudAlpha Capital Management Limited Hong Kong grew its position in shares of Circle Internet Group by 181.1% during the 3rd quarter. CloudAlpha Capital Management Limited Hong Kong now owns 283,964 shares of the company’s stock worth $37,648,000 after buying an additional 182,954 shares during the period. New York State Common Retirement Fund acquired a new position in shares of Circle Internet Group during the 3rd quarter worth about $3,248,000. Rheos Capital Works Inc. grew its position in shares of Circle Internet Group by 20.8% during the 3rd quarter. Rheos Capital Works Inc. now owns 302,000 shares of the company’s stock worth $40,039,000 after buying an additional 52,000 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Circle Internet Group by 61.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock worth $739,624,000 after buying an additional 2,126,072 shares during the period.

Circle Internet Group Company Profile

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.