Circle Internet Group (NYSE:CRCL) Rating Increased to Hold at Mizuho

Mizuho upgraded shares of Circle Internet Group (NYSE:CRCL) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday morning, Marketbeat reports. They currently have $77.00 target price on the stock, up from their previous target price of $70.00.

A number of other analysts have also weighed in on CRCL. Rothschild Redb upgraded shares of Circle Internet Group to a “hold” rating in a research note on Friday, October 3rd. Wall Street Zen lowered shares of Circle Internet Group from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. JMP Securities initiated coverage on Circle Internet Group in a report on Tuesday, September 30th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. upgraded Circle Internet Group from an “underweight” rating to an “overweight” rating and increased their price objective for the stock from $94.00 to $100.00 in a research report on Thursday, November 13th. Finally, Rothschild & Co Redburn initiated coverage on Circle Internet Group in a research note on Friday, October 3rd. They set a “neutral” rating and a $136.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $139.71.

Circle Internet Group Price Performance

Shares of NYSE CRCL traded down $5.89 during mid-day trading on Wednesday, hitting $66.95. 9,285,423 shares of the company’s stock traded hands, compared to its average volume of 9,387,442. The company has a market capitalization of $15.77 billion and a P/E ratio of -29.20. Circle Internet Group has a 1 year low of $64.00 and a 1 year high of $298.99. The company’s 50-day moving average is $79.54 and its two-hundred day moving average is $119.09.

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

Insider Transactions at Circle Internet Group

In other Circle Internet Group news, insider Nikhil Chandhok sold 100,000 shares of Circle Internet Group stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $77.08, for a total transaction of $7,708,000.00. Following the completion of the transaction, the insider owned 493,639 shares in the company, valued at approximately $38,049,694.12. The trade was a 16.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jeremy Fox-Geen sold 23,830 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $90.00, for a total transaction of $2,144,700.00. Following the sale, the chief financial officer directly owned 282,173 shares in the company, valued at $25,395,570. This represents a 7.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 722,089 shares of company stock worth $58,540,227.

Institutional Investors Weigh In On Circle Internet Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Circle Internet Group in the fourth quarter worth about $25,000. Larson Financial Group LLC raised 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 in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in Circle Internet Group during the 3rd quarter valued at $27,000. EverSource Wealth Advisors LLC acquired a new position in Circle Internet Group during the 2nd quarter worth $27,000. Finally, Bellevue Asset Management LLC bought a new stake in shares of Circle Internet Group in the 4th quarter worth about $29,000.

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 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.