Circle Internet Group, Inc. (NYSE:CRCL) Short Interest Up 33.6% in January

Circle Internet Group, Inc. (NYSE:CRCL) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totaling 14,636,079 shares, a growth of 33.6% from the December 31st total of 10,952,651 shares. Approximately 6.2% of the shares of the company are sold short. Based on an average daily volume of 9,122,993 shares, the short-interest ratio is currently 1.6 days. Based on an average daily volume of 9,122,993 shares, the short-interest ratio is currently 1.6 days. Approximately 6.2% of the shares of the company are sold short.

Analysts Set New Price Targets

Several research analysts have weighed in on CRCL shares. Mizuho set a $77.00 target price on shares of Circle Internet Group and gave the stock a “neutral” rating in a research report on Wednesday. Robert W. Baird raised Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 14th. Weiss Ratings restated a “sell (d)” rating on shares of Circle Internet Group in a report on Wednesday, January 21st. Wells Fargo & Company reduced their price objective on Circle Internet Group from $160.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, November 13th. Finally, Wolfe Research began coverage on Circle Internet Group in a research report on Tuesday, December 2nd. They set an “underperform” rating and a $60.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $136.47.

Circle Internet Group Price Performance

CRCL stock traded down $3.68 on Friday, hitting $63.87. 15,676,709 shares of the company were exchanged, compared to its average volume of 9,724,701. The stock has a market capitalization of $15.04 billion and a price-to-earnings ratio of -27.89. Circle Internet Group has a twelve month low of $61.88 and a twelve month high of $298.99. The business’s fifty day moving average is $79.41 and its two-hundred day moving average is $116.41.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings data 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 company had revenue of $739.76 million for the quarter. Circle Internet Group’s revenue was up 65.9% compared to the same quarter last year.

Insider Transactions at Circle Internet Group

In other Circle Internet Group news, President Heath Tarbert sold 3,048 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $90.02, for a total value of $274,380.96. Following the completion of the sale, the president owned 579,302 shares of the company’s stock, valued at approximately $52,148,766.04. This trade represents a 0.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeremy Fox-Geen sold 23,830 shares of the company’s 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 transaction, the chief financial officer directly owned 282,173 shares in the company, valued at approximately $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. Insiders have sold 722,089 shares of company stock valued at $58,540,227 over the last 90 days.

Institutional Investors Weigh In On Circle Internet Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GC Wealth Management RIA LLC acquired a new position in shares of Circle Internet Group during the fourth quarter worth about $18,165,000. Simplicity Wealth LLC acquired a new position in Circle Internet Group during the 4th quarter worth approximately $1,215,000. Wealthfront Advisers LLC purchased a new position in Circle Internet Group in the 4th quarter worth approximately $272,000. Comerica Bank grew its position in Circle Internet Group by 8,291.6% in the fourth quarter. Comerica Bank now owns 72,252 shares of the company’s stock valued at $5,730,000 after acquiring an additional 71,391 shares in the last quarter. Finally, State of Michigan Retirement System purchased a new stake in shares of Circle Internet Group during the fourth quarter valued at approximately $565,000.

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.