Circle Internet Group, Inc. (NYSE:CRCL) Receives Average Rating of “Hold” from Analysts

Circle Internet Group, Inc. (NYSE:CRCL) has received a consensus rating of “Hold” from the twenty-two ratings firms that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $139.2941.

Several analysts recently commented on the company. Wall Street Zen cut Circle Internet Group from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Rothschild Redb raised shares of Circle Internet Group to a “hold” rating in a report on Friday, October 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Circle Internet Group in a research report on Wednesday. Mizuho lowered their price target on shares of Circle Internet Group from $84.00 to $70.00 and set an “underperform” rating on the stock in a research report on Friday, November 14th. Finally, JMP Securities initiated coverage on shares of Circle Internet Group in a research note on Tuesday, September 30th. They set a “market perform” rating for the company.

Insiders Place Their Bets

In other Circle Internet Group news, insider Nikhil Chandhok sold 10,000 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $90.00, for a total value of $900,000.00. Following the completion of the sale, the insider directly owned 474,974 shares in the company, valued at $42,747,660. This represents a 2.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Heath Tarbert sold 3,048 shares of Circle Internet Group stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $90.02, for a total value of $274,380.96. Following the transaction, the president owned 579,302 shares in the company, valued at approximately $52,148,766.04. This represents a 0.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 722,089 shares of company stock valued at $58,540,227.

Hedge Funds Weigh In On Circle Internet Group

A number of institutional investors have recently bought and sold shares of the company. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Circle Internet Group in the 4th quarter valued at approximately $25,000. Larson Financial Group LLC lifted its holdings in Circle Internet Group by 3,800.0% in the third quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after acquiring an additional 190 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in Circle Internet Group in the third quarter worth approximately $27,000. EverSource Wealth Advisors LLC purchased a new position in Circle Internet Group in the second quarter worth approximately $27,000. Finally, Highline Wealth Partners LLC acquired a new stake in Circle Internet Group during the third quarter worth $32,000.

Circle Internet Group Stock Down 1.9%

CRCL opened at $71.23 on Friday. The company has a market cap of $16.77 billion and a PE ratio of -31.10. Circle Internet Group has a twelve month low of $64.00 and a twelve month high of $298.99. The company has a 50-day moving average price of $79.93 and a 200 day moving average price of $123.25.

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

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 USD Coin (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.