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

Shares of Circle Internet Group, Inc. (NYSE:CRCL) have earned an average recommendation of “Hold” from the twenty-four ratings firms that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $139.2941.

A number of research analysts have issued reports on CRCL shares. Citizens Jmp initiated coverage on shares of Circle Internet Group in a report on Tuesday, September 30th. They issued a “market perform” rating on the stock. Wells Fargo & Company reduced their price objective on shares of Circle Internet Group from $160.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday, November 13th. Rothschild & Co Redburn assumed coverage on shares of Circle Internet Group in a research note on Friday, October 3rd. They issued a “neutral” rating and a $136.00 target price for the company. Robert W. Baird cut their price target on Circle Internet Group from $144.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, November 13th. Finally, JPMorgan Chase & Co. raised Circle Internet Group from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $94.00 to $100.00 in a research note on Thursday, November 13th.

Circle Internet Group Stock Performance

Circle Internet Group stock opened at $72.67 on Friday. Circle Internet Group has a fifty-two week low of $64.00 and a fifty-two week high of $298.99. The company has a market capitalization of $17.11 billion and a price-to-earnings ratio of -31.73. The stock has a fifty day moving average of $80.40 and a two-hundred day moving average of $123.97.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.44. The company had revenue of $739.76 million during the quarter. The company’s quarterly revenue was up 65.9% compared to the same quarter last year.

Insiders Place Their Bets

In other Circle Internet Group news, Director Patrick Sean Neville sold 33,569 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $85.05, for a total value of $2,855,043.45. Following the sale, the director directly owned 33,568 shares of the company’s stock, valued at approximately $2,854,958.40. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rajeev V. Date sold 190,867 shares of Circle Internet Group stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $83.58, for a total value of $15,952,663.86. Following the completion of the sale, the director owned 127,247 shares of the company’s stock, valued at $10,635,304.26. This trade represents a 60.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 722,089 shares of company stock valued at $58,540,227.

Hedge Funds Weigh In On Circle Internet Group

A number of large investors have recently modified their holdings of the company. Larson Financial Group LLC grew its holdings in shares of Circle Internet Group by 3,800.0% during the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock worth $26,000 after purchasing an additional 190 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new position in Circle Internet Group during the third quarter valued at approximately $27,000. EverSource Wealth Advisors LLC purchased a new stake in Circle Internet Group during the second quarter worth approximately $27,000. Highline Wealth Partners LLC purchased a new stake in Circle Internet Group during the third quarter worth approximately $32,000. Finally, Montag A & Associates Inc. acquired a new stake in shares of Circle Internet Group in the third quarter worth $33,000.

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 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.