Circle Internet Group (NYSE:CRCL) Stock Price Up 9.3% – What’s Next?

Circle Internet Group, Inc. (NYSE:CRCL) rose 9.3% during mid-day trading on Tuesday . The stock traded as high as $83.50 and last traded at $82.50. Approximately 14,912,351 shares traded hands during trading, a decline of 19% from the average daily volume of 18,438,119 shares. The stock had previously closed at $75.46.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRCL. The Goldman Sachs Group lowered their price target on Circle Internet Group from $92.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, November 21st. Citigroup assumed coverage on Circle Internet Group in a report on Tuesday, September 30th. They issued a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Circle Internet Group from $147.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, November 13th. Rothschild & Co Redburn initiated coverage on 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. Finally, Oppenheimer started coverage on Circle Internet Group in a research report on Friday, September 12th. They issued a “market perform” rating for the company. Two equities 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 assigned a Sell rating to the stock. According to data from MarketBeat, Circle Internet Group has a consensus rating of “Hold” and an average target price of $144.69.

Circle Internet Group Trading Up 9.3%

The business’s 50-day moving average price is $104.27.

Circle Internet Group (NYSE:CRCL) last posted its earnings results on Wednesday, November 12th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.44. The firm had revenue of $739.76 million during the quarter. Circle Internet Group’s revenue was up 65.9% on a year-over-year basis.

Insiders Place Their Bets

In other Circle Internet Group news, insider Nikhil Chandhok sold 100,000 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $77.08, for a total value of $7,708,000.00. Following the transaction, the insider owned 493,639 shares of the company’s stock, valued at approximately $38,049,694.12. The trade was a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Patrick Sean Neville sold 33,569 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $85.05, for a total value of $2,855,043.45. Following the completion of the sale, the director 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 696,790 shares of company stock worth $56,284,056 in the last three months.

Hedge Funds Weigh In On Circle Internet Group

Large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC bought a new stake in shares of Circle Internet Group during the second quarter valued at approximately $27,000. North Star Investment Management Corp. bought a new position in Circle Internet Group in the 2nd quarter valued at $34,000. Larson Financial Group LLC boosted its position 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 buying an additional 190 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of Circle Internet Group in the 2nd quarter valued at $36,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Circle Internet Group during the third quarter worth $27,000.

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.