Circle Internet Group, Inc. (NYSE:CRCL) Given Consensus Rating of “Hold” by Analysts

Shares of Circle Internet Group, Inc. (NYSE:CRCL) have been assigned an average recommendation of “Hold” from the twenty-four research firms that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $139.2941.

Several research analysts have weighed in on CRCL shares. Rothschild Redb raised Circle Internet Group to a “hold” rating in a research report on Friday, October 3rd. Citigroup started coverage on Circle Internet Group in a research note on Tuesday, September 30th. They issued a “market perform” rating for the company. Baird R W raised shares of Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 14th. Wolfe Research started coverage on shares of Circle Internet Group in a research note on Tuesday, December 2nd. They issued an “underperform” rating and a $60.00 target price for the company. Finally, Redburn Partners set a $136.00 price target on shares of Circle Internet Group in a research note on Friday, October 3rd.

Insider Buying and Selling at Circle Internet Group

In other Circle Internet Group news, 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 transaction, the chief financial officer directly owned 282,173 shares in the company, valued at $25,395,570. This trade represents a 7.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nikhil Chandhok sold 100,000 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $77.08, for a total value of $7,708,000.00. Following the completion of the sale, the insider directly owned 493,639 shares of the company’s stock, valued at $38,049,694.12. This represents a 16.85% 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.

Institutional Investors Weigh In On Circle Internet Group

A number of large investors have recently added to or reduced their stakes in the stock. General Catalyst Group Management LLC acquired a new position in Circle Internet Group during the 2nd quarter valued at $3,647,694,000. Marshall Wace LLP bought a new position in shares of Circle Internet Group during the 2nd quarter worth about $1,547,214,000. ARK Investment Management LLC bought a new position in shares of Circle Internet Group during the 2nd quarter worth about $530,165,000. Vanguard Group Inc. raised its position in shares of Circle Internet Group by 61.6% during the third quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock valued at $739,624,000 after buying an additional 2,126,072 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Circle Internet Group by 282.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,299,374 shares of the company’s stock valued at $172,271,000 after buying an additional 959,309 shares during the period.

Circle Internet Group Stock Down 9.6%

Shares of NYSE:CRCL opened at $76.62 on Friday. The firm has a fifty day moving average of $81.91 and a two-hundred day moving average of $127.10. The firm has a market capitalization of $18.04 billion and a P/E ratio of -33.46. Circle Internet Group has a 12-month low of $64.00 and a 12-month high of $298.99.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings results on Wednesday, November 12th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.44. The company had revenue of $739.76 million during the quarter. The business’s quarterly revenue was up 65.9% compared to the same quarter last 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 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.