Circle Internet Group (NYSE:CRCL) Earns Hold Rating from Analysts at HC Wainwright

HC Wainwright assumed coverage on shares of Circle Internet Group (NYSE:CRCL) in a research report released on Friday, MarketBeat.com reports. The firm issued a hold rating and a $85.00 target price on the stock.

Several other brokerages have also commented on CRCL. Canaccord Genuity Group restated a “buy” rating and issued a $247.00 price target on shares of Circle Internet Group in a research note on Thursday, September 11th. Wolfe Research initiated coverage on Circle Internet Group in a report on Tuesday, December 2nd. They issued an “underperform” rating and a $60.00 price objective for the company. Mizuho lowered their target price on 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. Robert W. Baird cut their target price on Circle Internet Group from $144.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, November 13th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Circle Internet Group in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $141.18.

Circle Internet Group Trading Up 5.9%

CRCL stock opened at $85.79 on Friday. Circle Internet Group has a 1 year low of $64.00 and a 1 year high of $298.99. The company has a fifty day moving average of $99.16.

Circle Internet Group (NYSE:CRCL) last released its quarterly 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 firm had revenue of $739.76 million for the quarter. Circle Internet Group’s revenue for the quarter was up 65.9% on a year-over-year basis.

Insider Buying and Selling

In other Circle Internet Group news, Director Patrick Sean Neville sold 30,000 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $90.00, for a total value of $2,700,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Nikhil Chandhok sold 10,000 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $90.00, for a total transaction of $900,000.00. Following the completion of the sale, the insider directly owned 474,974 shares of the company’s stock, valued at $42,747,660. The trade was a 2.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 696,790 shares of company stock worth $56,284,056.

Hedge Funds Weigh In On Circle Internet Group

Several hedge funds have recently made changes to their positions in CRCL. Larson Financial Group LLC lifted its stake in Circle Internet Group by 3,800.0% during the third quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after purchasing an additional 190 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Circle Internet Group in the third quarter valued at $27,000. EverSource Wealth Advisors LLC bought a new position in shares of Circle Internet Group in the second quarter valued at $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Circle Internet Group during the 3rd quarter valued at $32,000. Finally, Montag A & Associates Inc. acquired a new stake in shares of Circle Internet Group during the 3rd quarter valued at $33,000.

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.