Circle Internet Group (NYSE:CRCL) Raised to Hold at Susquehanna

Circle Internet Group (NYSE:CRCL) was upgraded by stock analysts at Susquehanna to a “hold” rating in a report released on Wednesday, MarketBeat Ratings reports.

Several other equities research analysts also recently commented on CRCL. Wells Fargo & Company upped their price target on shares of Circle Internet Group from $111.00 to $142.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Circle Internet Group in a research note on Monday, April 20th. Mizuho lowered their price target on Circle Internet Group from $135.00 to $85.00 and set a “neutral” rating on the stock in a report on Friday, June 5th. HC Wainwright raised Circle Internet Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $85.00 to $150.00 in a research report on Monday, May 18th. Finally, The Goldman Sachs Group reduced their price objective on Circle Internet Group from $111.00 to $96.00 and set a “neutral” rating for the company in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $117.38.

Circle Internet Group Trading Up 4.2%

NYSE CRCL opened at $64.56 on Wednesday. The stock’s 50-day moving average price is $95.51 and its two-hundred day moving average price is $89.23. The company has a market cap of $16.05 billion and a PE ratio of -20.17. Circle Internet Group has a 1 year low of $49.90 and a 1 year high of $262.97.

Circle Internet Group (NYSE:CRCL) last posted 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). Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The firm had revenue of $694.13 million for the quarter. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. Research analysts forecast that Circle Internet Group will post 1.02 EPS for the current fiscal year.

Insider Buying and Selling at Circle Internet Group

In related news, CEO Jeremy Allaire sold 56,200 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $82.93, for a total transaction of $4,660,666.00. Following the completion of the sale, the chief executive officer directly owned 510,579 shares in the company, valued at approximately $42,342,316.47. This trade represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Hossein Razzaghi sold 34,623 shares of Circle Internet Group stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $78.85, for a total value of $2,730,023.55. Following the sale, the insider directly owned 666,404 shares of the company’s stock, valued at approximately $52,545,955.40. The trade was a 4.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,901,114 shares of company stock worth $153,007,135 over the last 90 days. 10.85% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of Circle Internet Group during the 4th quarter valued at about $25,000. Larson Financial Group LLC grew its stake in shares of Circle Internet Group by 3,800.0% in the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after buying an additional 190 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new position in Circle Internet Group in the second quarter worth approximately $27,000. Bellevue Asset Management LLC acquired a new position in Circle Internet Group in the fourth quarter worth approximately $29,000. Finally, Harbour Investments Inc. raised its position in Circle Internet Group by 170.0% during the fourth quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock valued at $30,000 after acquiring an additional 238 shares in the last quarter.

More Circle Internet Group News

Here are the key news stories impacting Circle Internet Group this week:

• Positive Sentiment: Circle completed a second ARC token presale, which may indicate continued progress on its crypto product expansion. Circle Internet Group completes second ARC token presale
• Neutral Sentiment: Some analysts still see meaningful upside for Circle, with comments that the stock remains attractive relative to long-term sales growth even after the recent selloff.
• Neutral Sentiment: Susquehanna and Compass Point initiated or reiterated neutral views, suggesting the market is still weighing Circle’s growth potential against valuation and regulatory/competitive risks.
• Negative Sentiment: Director Patrick Sean Neville sold 50,000 shares under a pre-arranged trading plan, a large reduction that can weigh on sentiment even though it was disclosed as Rule 10b5-1 activity.
• Negative Sentiment: CAO Tamara L. Schulz and insider Hossein Razzaghi also sold shares, reinforcing concerns that company insiders are trimming exposure while the stock is under pressure.
• Negative Sentiment: Reports about rising stablecoin competition and Visa’s Open USD push are making investors question whether Circle’s stablecoin economics and long-term competitive advantage are at risk.

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.