Analysts Set Circle Internet Group, Inc. (NYSE:CRCL) PT at $99.35

Shares of Circle Internet Group, Inc. (NYSE:CRCL) have earned a consensus recommendation of “Hold” from the twenty-seven brokerages that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $99.3529.

A number of equities research analysts have issued reports on CRCL shares. Needham & Company LLC cut their price target on Circle Internet Group from $150.00 to $127.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Circle Internet Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th. Seaport Research Partners set a $100.00 target price on shares of Circle Internet Group in a report on Monday, August 17th. Susquehanna increased their price target on shares of Circle Internet Group from $69.00 to $92.00 and gave the stock a “neutral” rating in a research report on Monday, August 24th. Finally, Canaccord Genuity Group dropped their price target on shares of Circle Internet Group from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th.

Insider Buying and Selling

In other Circle Internet Group news, Director Patrick Sean Neville sold 1,034,396 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $82.87, for a total transaction of $85,720,396.52. Following the completion of the sale, the director owned 2,018 shares of the company’s stock, valued at approximately $167,231.66. The trade was a 99.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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, CFO Jeremy Fox-Geen sold 45,000 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $90.00, for a total value of $4,050,000.00. Following the completion of the transaction, the chief financial officer directly owned 323,837 shares in the company, valued at $29,145,330. This trade represents a 12.20% 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 sold 2,100,971 shares of company stock worth $163,146,343 in the last quarter. Company insiders own 10.85% of the company’s stock.

Institutional Investors Weigh In On Circle Internet Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRCL. Rockefeller Capital Management L.P. lifted its stake in shares of Circle Internet Group by 17.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 255,222 shares of the company’s stock valued at $20,239,000 after buying an additional 38,567 shares in the last quarter. Travelers Companies Inc. bought a new position in Circle Internet Group in the 4th quarter worth $9,557,000. Fifth Third Bancorp purchased a new stake in Circle Internet Group in the 1st quarter worth $7,282,000. Alberta Investment Management Corp purchased a new stake in Circle Internet Group in the 4th quarter worth $25,027,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Circle Internet Group by 13.3% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,917,764 shares of the company’s stock valued at $278,384,000 after acquiring an additional 342,080 shares during the period.

Circle Internet Group Stock Down 0.8%

Shares of CRCL stock opened at $88.78 on Friday. The company has a 50 day moving average price of $71.12 and a 200-day moving average price of $88.39. Circle Internet Group has a 52 week low of $49.90 and a 52 week high of $159.47. The firm has a market capitalization of $22.54 billion, a PE ratio of 60.81 and a beta of 0.56.

Circle Internet Group (NYSE:CRCL) last posted its earnings results on Wednesday, August 5th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.08). The company had revenue of $701.32 million during the quarter. Circle Internet Group had a return on equity of 13.58% and a net margin of 15.53%.The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($4.48) earnings per share. Analysts anticipate that Circle Internet Group will post 1.05 earnings per share for the current year.

Circle Internet Group Company Profile

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.