Circle Internet Group (NYSE:CRCL) Raised to Hold at Mizuho

Circle Internet Group (NYSE:CRCL) was upgraded by investment analysts at Mizuho from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm currently has a $77.00 price objective on the stock, up from their previous price objective of $70.00. Mizuho’s price objective would suggest a potential upside of 5.29% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Monness Crespi & Hardt initiated coverage on Circle Internet Group in a research note on Monday, November 10th. They set a “buy” rating and a $150.00 target price for the company. Sanford C. Bernstein set a $190.00 price objective on Circle Internet Group in a report on Tuesday, January 6th. Rothschild & Co Redburn started 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. William Blair reissued an “outperform” rating on shares of Circle Internet Group in a research report on Wednesday, November 12th. Finally, Citigroup started coverage on shares of Circle Internet Group in a report on Tuesday, September 30th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Circle Internet Group has an average rating of “Hold” and an average price target of $139.71.

Circle Internet Group Trading Up 4.5%

NYSE CRCL opened at $73.13 on Wednesday. The stock has a market cap of $17.22 billion and a P/E ratio of -31.93. The company’s fifty day simple moving average is $79.54 and its 200-day simple moving average is $119.09. Circle Internet Group has a 52 week low of $64.00 and a 52 week high of $298.99.

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

Insider Transactions at Circle Internet Group

In other Circle Internet Group news, Director Patrick Sean Neville sold 33,569 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $85.05, for a total transaction of $2,855,043.45. Following the completion of the sale, the director owned 33,568 shares in the company, valued at $2,854,958.40. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeremy Fox-Geen sold 23,830 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $90.00, for a total transaction of $2,144,700.00. Following the sale, the chief financial officer directly owned 282,173 shares in the company, valued at $25,395,570. This trade represents a 7.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 722,089 shares of company stock valued at $58,540,227.

Hedge Funds Weigh In On Circle Internet Group

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