Circle Internet Group (NYSE:CRCL) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Circle Internet Group (NYSE:CRCL) from a hold rating to a sell rating in a report published on Saturday.

Several other equities research analysts have also recently issued reports on the stock. Citizens Jmp began coverage on shares of Circle Internet Group in a research report on Tuesday, September 30th. They set a “market perform” rating on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Circle Internet Group in a report on Wednesday, October 8th. Rothschild Redb upgraded Circle Internet Group to a “hold” rating in a research report on Friday, October 3rd. Rothschild & Co Redburn assumed coverage on Circle Internet Group in a research report on Friday, October 3rd. They issued a “neutral” rating and a $136.00 target price on the stock. Finally, Redburn Partners set a $136.00 price target on Circle Internet Group in a research note on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Circle Internet Group presently has an average rating of “Hold” and a consensus target price of $144.69.

Circle Internet Group Price Performance

NYSE CRCL opened at $75.71 on Friday. Circle Internet Group has a twelve month low of $64.00 and a twelve month high of $298.99. The stock has a 50-day simple moving average of $104.27.

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

Insider Activity

In other news, insider Nikhil Chandhok sold 100,000 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $77.08, for a total value of $7,708,000.00. Following the sale, the insider owned 493,639 shares of the company’s stock, valued at approximately $38,049,694.12. This represents a 16.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rajeev V. Date sold 190,867 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $83.58, for a total transaction 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 618,847 shares of company stock worth $49,268,665.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Larson Financial Group LLC lifted its stake 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 acquiring an additional 190 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Circle Internet Group during the third quarter valued at $27,000. EverSource Wealth Advisors LLC bought a new position in shares of Circle Internet Group in the second quarter worth about $27,000. Highline Wealth Partners LLC bought a new position in shares of Circle Internet Group in the third quarter worth about $32,000. Finally, Montag A & Associates Inc. purchased a new position in Circle Internet Group in the 3rd quarter worth about $33,000.

Circle Internet Group Company Profile

Founded in 2013, Circle’s mission is to raise global economic prosperity through the frictionless exchange of value. We intend to connect the world more deeply by building a new global economic system on the foundation of the internet, and to facilitate the creation of a world where everyone, everywhere can share value as easily as we can today share information, content, and communications.