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

Circle Internet Group, Inc. (NYSE:CRCL) has received an average rating of “Hold” from the twenty-five analysts that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $134.1765.

Several equities research analysts have weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of Circle Internet Group in a report on Monday, April 20th. William Blair restated an “outperform” rating on shares of Circle Internet Group in a report on Thursday, June 11th. Needham & Company LLC upped their price target on Circle Internet Group from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Wall Street Zen downgraded Circle Internet Group from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Finally, HC Wainwright upgraded Circle Internet Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $85.00 to $150.00 in a report on Monday, May 18th.

Insider Activity at Circle Internet Group

In other news, Director Patrick Sean Neville sold 50,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $81.30, for a total value of $4,065,000.00. Following the transaction, the director owned 2,018 shares in the company, valued at approximately $164,063.40. This represents a 96.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajeev V. Date sold 1,273 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $85.00, for a total value of $108,205.00. Following the completion of the sale, the director directly owned 154,346 shares of the company’s stock, valued at approximately $13,119,410. This trade represents a 0.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,415,984 shares of company stock worth $120,091,637 over the last quarter. 10.85% of the stock is currently owned by insiders.

Institutional Trading of Circle Internet Group

A number of large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC acquired a new stake in Circle Internet Group during the 2nd quarter worth approximately $27,000. PNC Financial Services Group Inc. lifted its position in Circle Internet Group by 14.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,164 shares of the company’s stock worth $154,000 after acquiring an additional 151 shares during the period. Larson Financial Group LLC lifted its position in Circle Internet Group by 3,800.0% during the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock worth $26,000 after acquiring an additional 190 shares during the period. Harbour Investments Inc. lifted its position in Circle Internet Group by 170.0% during the 4th quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock worth $30,000 after acquiring an additional 238 shares during the period. Finally, Montag A & Associates Inc. acquired a new stake in Circle Internet Group during the 3rd quarter worth approximately $33,000.

Circle Internet Group Trading Up 0.3%

CRCL stock opened at $80.46 on Monday. The company has a market capitalization of $20.00 billion and a PE ratio of -25.14. Circle Internet Group has a 12-month low of $49.90 and a 12-month high of $298.99. The business’s fifty day moving average price is $100.79 and its 200 day moving average price is $90.09.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter. The company’s quarterly revenue was up 20.0% on a year-over-year basis. Research analysts predict that Circle Internet Group will post 1.02 EPS for the current fiscal year.

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 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.