Circle Internet Group, Inc. (NYSE:CRCL) Receives $132.35 Average PT from Analysts

Circle Internet Group, Inc. (NYSE:CRCL) has earned a consensus rating of “Hold” from the twenty-two analysts that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $131.7647.

CRCL has been the subject of a number of recent analyst reports. The Goldman Sachs Group lifted their price target on shares of Circle Internet Group from $79.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, January 5th. Sanford C. Bernstein set a $190.00 target price on Circle Internet Group in a research note on Tuesday, January 6th. Wells Fargo & Company decreased their price target on 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. Wall Street Zen cut Circle Internet Group from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Finally, Monness Crespi & Hardt initiated coverage on shares of Circle Internet Group in a report on Monday, November 10th. They issued a “buy” rating and a $150.00 price objective on the stock.

Circle Internet Group Price Performance

Shares of CRCL stock opened at $60.16 on Tuesday. The company has a market capitalization of $14.17 billion and a PE ratio of -26.27. The firm’s 50-day moving average is $74.73 and its two-hundred day moving average is $105.33. Circle Internet Group has a 12 month low of $49.90 and a 12 month high of $298.99.

Insiders Place Their Bets

In related news, insider Nikhil Chandhok sold 10,000 shares of the stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $90.00, for a total transaction of $900,000.00. Following the completion of the transaction, the insider owned 474,974 shares of the company’s stock, valued at approximately $42,747,660. This trade represents a 2.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Tamara L. Schulz sold 1,527 shares of Circle Internet Group stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $59.80, for a total transaction of $91,314.60. Following the completion of the sale, the chief accounting officer owned 98,010 shares of the company’s stock, valued at $5,860,998. This trade represents a 1.53% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 360,018 shares of company stock worth $28,288,388.

Hedge Funds Weigh In On Circle Internet Group

Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new stake in shares of Circle Internet Group in the 2nd quarter valued at about $65,261,000. ARK Investment Management LLC purchased a new stake in Circle Internet Group in the second quarter valued at approximately $530,165,000. Rakuten Securities Inc. purchased a new stake in Circle Internet Group in the third quarter valued at approximately $2,491,000. Telligent Fund LP acquired a new stake in shares of Circle Internet Group in the second quarter valued at approximately $3,263,000. Finally, Huntleigh Advisors Inc. purchased a new position in shares of Circle Internet Group during the second quarter worth approximately $470,000.

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.