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

Mizuho upgraded shares of Circle Internet Group (NYSE:CRCL) from a strong sell rating to a hold rating in a report released on Friday morning,Zacks.com reports.

CRCL has been the subject of several other reports. HC Wainwright upgraded Circle Internet Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $85.00 to $150.00 in a research note on Monday, May 18th. The Goldman Sachs Group reduced their target price on Circle Internet Group from $111.00 to $96.00 and set a “neutral” rating for the company in a research note on Thursday, July 2nd. Wells Fargo & Company raised their price target on shares of Circle Internet Group from $111.00 to $142.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Wall Street Zen lowered shares of Circle Internet Group from a “sell” rating to a “strong sell” rating in a research note on Saturday. Finally, Compass Point set a $62.00 price target on shares of Circle Internet Group in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Circle Internet Group currently has an average rating of “Hold” and an average price target of $109.81.

Circle Internet Group Stock Performance

CRCL opened at $62.55 on Friday. Circle Internet Group has a one year low of $49.90 and a one year high of $189.92. The company has a market cap of $15.55 billion and a P/E ratio of -19.55. The business’s 50-day simple moving average is $76.03 and its 200-day simple moving average is $86.60.

Circle Internet Group (NYSE:CRCL) last released its earnings results on Monday, May 11th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.06). The business had revenue of $694.13 million during the quarter. Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. Circle Internet Group’s quarterly revenue was up 20.0% on a year-over-year basis. As a group, analysts predict that Circle Internet Group will post 0.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Circle Internet Group news, insider Hossein Razzaghi sold 1,831 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $64.40, for a total value of $117,916.40. Following the transaction, the insider directly owned 662,856 shares of the company’s stock, valued at $42,687,926.40. This represents a 0.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Allaire sold 3,032 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $67.16, for a total value of $203,629.12. Following the completion of the sale, the chief executive officer owned 63,346 shares of the company’s stock, valued at $4,254,317.36. This represents a 4.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,914,327 shares of company stock valued at $151,802,213 over the last ninety days. Insiders own 10.85% of the company’s stock.

Institutional Trading of Circle Internet Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Circle Internet Group in the 4th quarter valued at about $25,000. Larson Financial Group LLC boosted its holdings in shares of 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 buying an additional 190 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of Circle Internet Group during the 2nd quarter worth approximately $27,000. Bellevue Asset Management LLC bought a new stake in shares of Circle Internet Group in the 4th quarter valued at $29,000. Finally, Harbour Investments Inc. lifted its position in shares of Circle Internet Group by 170.0% during the 4th quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock valued at $30,000 after acquiring an additional 238 shares during the period.

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.