Circle Internet Group (NYSE:CRCL) Stock Price Up 11.6% – Still a Buy?

Circle Internet Group, Inc. (NYSE:CRCL) shares were up 11.6% during trading on Wednesday . The company traded as high as $86.59 and last traded at $86.3960. Approximately 20,867,503 shares changed hands during mid-day trading, an increase of 11% from the average daily volume of 18,855,432 shares. The stock had previously closed at $77.44.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Circle Internet Group from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Wolfe Research started coverage on Circle Internet Group in a research report on Tuesday. They set an “underperform” rating and a $60.00 price target on the stock. Rothschild Redb upgraded Circle Internet Group to a “hold” rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Circle Internet Group in a research report on Wednesday, October 8th. Finally, Robert W. Baird decreased their target price on Circle Internet Group from $144.00 to $110.00 and set a “neutral” rating on the stock in a report on Thursday, November 13th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $144.69.

Circle Internet Group Trading Up 11.6%

The stock’s fifty day moving average price is $113.36.

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, topping analysts’ consensus estimates of $0.20 by $0.44. The firm had revenue of $739.76 million for the quarter. Circle Internet Group’s revenue was up 65.9% on a year-over-year basis.

Insider Buying and Selling at Circle Internet Group

In other news, CAO Tamara L. Schulz sold 1,000 shares of Circle Internet Group stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $78.02, for a total value of $78,020.00. Following the completion of the sale, the chief accounting officer directly owned 89,317 shares in the company, valued at approximately $6,968,512.34. The trade was a 1.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rajeev V. Date sold 127,247 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $72.29, for a total value of $9,198,685.63. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 618,847 shares of company stock worth $49,268,665.

Hedge Funds Weigh In On Circle Internet Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC raised its holdings in Circle Internet Group by 3,800.0% in the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after acquiring an additional 190 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in Circle Internet Group during the third quarter worth about $27,000. EverSource Wealth Advisors LLC acquired a new stake in Circle Internet Group during the second quarter worth about $27,000. Highline Wealth Partners LLC acquired a new stake in Circle Internet Group during the third quarter worth about $32,000. Finally, Montag A & Associates Inc. bought a new position in Circle Internet Group in the 3rd quarter valued at about $33,000.

About Circle Internet Group

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.