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

Circle Internet Group, Inc. (NYSE:CRCL) has earned an average rating of “Hold” from the twenty-five ratings firms that are currently covering the company, Marketbeat reports. Three research 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 1 year target price among analysts that have covered the stock in the last year is $134.1765.

CRCL has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $101.00 price objective on shares of Circle Internet Group in a research note on Tuesday, May 12th. Zacks Research raised Circle Internet Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. Needham & Company LLC increased their price target on Circle Internet Group from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Mizuho cut their price target on Circle Internet Group from $135.00 to $85.00 and set a “neutral” rating for the company in a report on Friday, June 5th. Finally, Wall Street Zen cut shares of Circle Internet Group from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th.

Circle Internet Group Price Performance

Shares of CRCL opened at $77.85 on Monday. The company has a market cap of $19.35 billion and a PE ratio of -24.33. The firm has a 50-day moving average of $101.91 and a 200-day moving average of $89.97. Circle Internet Group has a one year low of $49.90 and a one year high of $298.99.

Circle Internet Group (NYSE:CRCL) last issued its earnings results on Monday, May 11th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 revenue was up 20.0% compared to the same quarter last year. Analysts expect that Circle Internet Group will post 1.02 earnings per share for the current year.

Insider Activity at Circle Internet Group

In related news, Director Rajeev V. Date sold 1,273 shares of Circle Internet Group stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $85.00, for a total transaction of $108,205.00. Following the completion of the sale, the director owned 154,346 shares of the company’s stock, valued at approximately $13,119,410. The trade was a 0.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Heath Tarbert sold 39,240 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $81.47, for a total transaction of $3,196,882.80. Following the completion of the transaction, the president owned 502,558 shares in the company, valued at approximately $40,943,400.26. This trade represents a 7.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,415,984 shares of company stock worth $120,091,637 in the last quarter. 10.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Circle Internet Group

A number of large investors have recently made changes to their positions in CRCL. NewEdge Advisors LLC lifted its holdings in Circle Internet Group by 27.4% during the 1st quarter. NewEdge Advisors LLC now owns 6,594 shares of the company’s stock worth $629,000 after purchasing an additional 1,420 shares during the last quarter. Caerus Investment Advisors LLC acquired a new position in Circle Internet Group in the 1st quarter valued at $265,000. Lavelle Capital LP bought a new position in Circle Internet Group during the 1st quarter worth $1,908,000. CTC Alternative Strategies Ltd. bought a new position in Circle Internet Group during the 1st quarter worth $382,000. Finally, Essential Partners LLC lifted its holdings in shares of Circle Internet Group by 1,728.6% during the first quarter. Essential Partners LLC now owns 768 shares of the company’s stock worth $73,000 after buying an additional 726 shares in the last quarter.

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.