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

Shares of Circle Internet Group, Inc. (NYSE:CRCL) have been assigned an average rating of “Hold” from the twenty-four brokerages that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $117.3750.

A number of research firms have recently issued reports on CRCL. Mizuho cut their price objective on shares of Circle Internet Group from $135.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, June 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $101.00 target price on shares of Circle Internet Group in a research report on Tuesday, May 12th. Clear Str raised Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 16th. Compass Point upgraded Circle Internet Group from a “sell” rating to a “neutral” rating and cut their price target for the stock from $97.00 to $55.00 in a report on Tuesday, June 30th. Finally, Robert W. Baird raised their price objective on Circle Internet Group from $110.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday, March 17th.

Insider Buying and Selling

In related news, insider Hossein Razzaghi sold 1,831 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $64.40, for a total value of $117,916.40. Following the transaction, the insider owned 662,856 shares of the company’s stock, valued at approximately $42,687,926.40. This trade represents a 0.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 Circle Internet Group stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $67.16, for a total value of $203,629.12. Following the transaction, the chief executive officer owned 63,346 shares of the company’s stock, valued at $4,254,317.36. This trade represents a 4.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,954,861 shares of company stock worth $156,473,563 over the last ninety days. Insiders own 10.85% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Bartlett & CO. Wealth Management LLC bought a new stake in Circle Internet Group during the fourth quarter worth $25,000. Larson Financial Group LLC raised its position in Circle Internet Group by 3,800.0% in the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after buying an additional 190 shares during the last quarter. EverSource Wealth Advisors LLC bought a new position in Circle Internet Group during the 2nd quarter valued at $27,000. Bellevue Asset Management LLC bought a new position in Circle Internet Group during the 4th quarter valued at $29,000. Finally, Harbour Investments Inc. boosted its holdings 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 last quarter.

Circle Internet Group Trading Down 1.7%

Shares of CRCL opened at $62.99 on Friday. The firm’s fifty day simple moving average is $92.15 and its two-hundred day simple moving average is $88.68. Circle Internet Group has a 12 month low of $49.90 and a 12 month high of $262.97. The stock has a market capitalization of $15.66 billion and a P/E ratio of -19.69.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.06). The business had revenue of $694.13 million during the quarter. Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.Circle Internet Group’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, 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.