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

Shares of Circle Internet Group, Inc. (NYSE:CRCL) have received a consensus rating of “Hold” from the twenty-two brokerages that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $132.3529.

A number of research analysts have issued reports on CRCL shares. Wells Fargo & Company reduced their price objective on Circle Internet Group from $160.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, November 13th. Sanford C. Bernstein set a $190.00 price target on shares of Circle Internet Group in a research report on Tuesday, January 6th. Wall Street Zen lowered shares of Circle Internet Group from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of Circle Internet Group in a research note on Wednesday, January 21st. Finally, William Blair restated an “outperform” rating on shares of Circle Internet Group in a research note on Wednesday, November 12th.

Insiders Place Their Bets

In other Circle Internet Group news, President Heath Tarbert sold 3,048 shares of the company’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $90.02, for a total transaction of $274,380.96. Following the sale, the president directly owned 579,302 shares of the company’s stock, valued at $52,148,766.04. This represents a 0.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nikhil Chandhok sold 10,000 shares of the stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $90.00, for a total transaction of $900,000.00. Following the transaction, the insider owned 474,974 shares of the company’s stock, valued at $42,747,660. This represents a 2.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 723,616 shares of company stock valued at $58,631,542.

Institutional Investors Weigh In On Circle Internet Group

Several hedge funds and other institutional investors have recently modified their holdings of CRCL. EverSource Wealth Advisors LLC purchased a new stake in shares of Circle Internet Group during the 2nd quarter valued at $27,000. PNC Financial Services Group Inc. increased its stake in Circle Internet Group by 14.9% in the third quarter. PNC Financial Services Group Inc. now owns 1,164 shares of the company’s stock valued at $154,000 after acquiring an additional 151 shares during the last quarter. Larson Financial Group LLC increased its stake in Circle Internet Group by 3,800.0% in the third quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after acquiring an additional 190 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in Circle Internet Group during the third quarter valued at about $27,000. Finally, Allworth Financial LP bought a new stake in Circle Internet Group during the second quarter worth about $37,000.

Circle Internet Group Stock Performance

NYSE:CRCL opened at $60.07 on Tuesday. The firm has a market cap of $14.15 billion and a price-to-earnings ratio of -26.23. Circle Internet Group has a 52 week low of $49.90 and a 52 week high of $298.99. The firm has a 50-day moving average price of $77.25 and a two-hundred day moving average price of $109.84.

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

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.