Circle Internet Group, Inc. (NYSE:CRCL) Stock Now Rated “Hold” by Wall Street Brokerages

Circle Internet Group, Inc. (NYSE:CRCL) has earned an average recommendation of “Hold” from the twenty-seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $99.94.

CRCL has been the topic of a number of research reports. The Goldman Sachs Group restated an “underperform” rating on shares of Circle Internet Group in a report on Wednesday, September 9th. Keefe, Bruyette & Woods assumed coverage on shares of Circle Internet Group in a research report on Tuesday, September 8th. They set a “market perform” rating and a $105.00 target price for the company. Seaport Research Partners set a $100.00 target price on shares of Circle Internet Group in a research report on Monday, August 17th. William Blair reiterated an “outperform” rating on shares of Circle Internet Group in a research note on Wednesday, August 5th. Finally, Needham & Company LLC dropped their price objective on shares of Circle Internet Group from $150.00 to $127.00 and set a “buy” rating for the company in a research report on Thursday, August 6th.

Circle Internet Group Stock Down 0.1%

Shares of NYSE CRCL opened at $88.93 on Wednesday. Circle Internet Group has a 52-week low of $49.90 and a 52-week high of $159.47. The firm has a fifty day moving average of $80.46 and a 200-day moving average of $89.90. The stock has a market capitalization of $22.58 billion, a PE ratio of 60.91 and a beta of 0.59.

Circle Internet Group (NYSE:CRCL) last issued its earnings results on Wednesday, August 5th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.08). Circle Internet Group had a return on equity of 13.58% and a net margin of 15.53%.The firm had revenue of $701.32 million during the quarter. During the same quarter in the prior year, the business earned ($4.48) earnings per share. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities research analysts expect that Circle Internet Group will post 1.08 EPS for the current fiscal year.

Insider Activity

In other news, insider Hossein Razzaghi sold 7,458 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $87.87, for a total value of $655,334.46. Following the completion of the sale, the insider owned 644,865 shares of the company’s stock, valued at $56,664,287.55. This represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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, CAO Tamara L. Schulz sold 1,194 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $87.87, for a total value of $104,916.78. Following the completion of the sale, the chief accounting officer owned 96,473 shares of the company’s stock, valued at approximately $8,477,082.51. This trade represents a 1.22% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders sold 528,386 shares of company stock worth $40,266,506 in the last quarter. Insiders own 10.85% of the company’s stock.

Hedge Funds Weigh In On Circle Internet Group

A number of institutional investors and hedge funds have recently bought and sold shares of CRCL. Harbour Investments Inc. lifted its position in shares of Circle Internet Group by 170.0% during the fourth quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock worth $30,000 after purchasing an additional 238 shares in the last quarter. WPG Advisers LLC acquired a new stake in Circle Internet Group during the 1st quarter valued at $31,000. First Horizon Corp acquired a new stake in Circle Internet Group during the 1st quarter valued at $35,000. Abound Financial LLC acquired a new stake in Circle Internet Group during the 1st quarter valued at $38,000. Finally, Global Assets Advisory LLC purchased a new stake in Circle Internet Group during the 1st quarter worth $43,000.

Circle Internet Group Company Profile

Circle Internet Group, Inc is a global financial technology company focused on digital currency and blockchain infrastructure. The company is best known as the issuer of USD Coin (USDC), a dollar-denominated stablecoin designed to maintain a consistent value and facilitate digital payments, trading, and transfers on blockchain networks. Circle also issues EURC, a euro-denominated stablecoin.

Circle provides products and services for businesses, financial institutions, developers, and digital-asset platforms.