Circle Internet Group (NYSE:CRCL) Shares Gap Up – Still a Buy?

Circle Internet Group, Inc. (NYSE:CRCL)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $75.46, but opened at $77.86. Circle Internet Group shares last traded at $82.3990, with a volume of 6,656,736 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently weighed in on CRCL shares. The Goldman Sachs Group decreased their price objective on Circle Internet Group from $92.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, November 21st. Citizens Jmp assumed coverage on shares of Circle Internet Group in a report on Tuesday, September 30th. They issued a “market perform” rating on the stock. Wall Street Zen cut shares of Circle Internet Group from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Wells Fargo & Company decreased their price objective on Circle Internet Group from $160.00 to $128.00 and set an “overweight” rating on the stock in a report on Thursday, November 13th. Finally, Baird R W upgraded Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 14th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $144.69.

Circle Internet Group Stock Performance

The business has a 50 day moving average price of $101.52.

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

Insider Activity at Circle Internet Group

In other news, CFO Jeremy Fox-Geen sold 23,830 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $90.00, for a total transaction of $2,144,700.00. Following the transaction, the chief financial officer directly owned 282,173 shares in the company, valued at approximately $25,395,570. This represents a 7.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patrick Sean Neville sold 33,569 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $85.05, for a total transaction of $2,855,043.45. Following the sale, the director directly owned 33,568 shares in the company, valued at $2,854,958.40. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 696,790 shares of company stock worth $56,284,056 in the last 90 days.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Larson Financial Group LLC increased 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 during the period. Pilgrim Partners Asia Pte Ltd acquired a new stake in Circle Internet Group in the third quarter worth about $27,000. EverSource Wealth Advisors LLC bought a new stake in Circle Internet Group during the 2nd quarter worth about $27,000. Highline Wealth Partners LLC bought a new position in shares of Circle Internet Group in the 3rd quarter valued at about $32,000. Finally, Montag A & Associates Inc. acquired a new stake in shares of Circle Internet Group during the 3rd quarter worth approximately $33,000.

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.