Circle Internet Group (NYSE:CRCL) Coverage Initiated by Analysts at Keefe, Bruyette & Woods

Stock analysts at Keefe, Bruyette & Woods began coverage on shares of Circle Internet Group (NYSE:CRCL) in a research report issued on Tuesday, Briefing.com reports. The brokerage set a “market perform” rating and a $105.00 price target on the stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 3.15% from the stock’s current price.

Other analysts also recently issued research reports about the company. Robert W. Baird decreased their target price on Circle Internet Group from $138.00 to $100.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Raymond James Financial started coverage on shares of Circle Internet Group in a research report on Tuesday, July 21st. They set a “market perform” rating on the stock. Wall Street Zen downgraded shares of Circle Internet Group from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Weiss Ratings upgraded shares of Circle Internet Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th. Finally, Compass Point set a $62.00 price objective on shares of Circle Internet Group in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Circle Internet Group has an average rating of “Hold” and an average price target of $99.67.

Circle Internet Group Trading Down 0.3%

NYSE:CRCL opened at $101.79 on Tuesday. Circle Internet Group has a 1 year low of $49.90 and a 1 year high of $159.47. The firm’s fifty day simple moving average is $72.88 and its 200 day simple moving average is $89.27. The firm has a market capitalization of $25.84 billion, a PE ratio of 69.72 and a beta of 0.59.

Circle Internet Group (NYSE:CRCL) last released its earnings results on Wednesday, August 5th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.08). Circle Internet Group had a return on equity of 13.58% and a net margin of 15.53%.The firm had revenue of $701.32 million for the quarter. During the same period last year, the company posted ($4.48) earnings per share. Circle Internet Group’s revenue was up 6.6% on a year-over-year basis. As a group, analysts anticipate that Circle Internet Group will post 1.05 EPS for the current fiscal year.

Insider Activity at Circle Internet Group

In other news, Director Patrick Neville sold 50,000 shares of Circle Internet Group stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $59.55, for a total transaction of $2,977,500.00. Following the sale, the director directly owned 2,018 shares in the company, valued at approximately $120,171.90. The trade was a 96.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nikhil Chandhok sold 489,737 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $72.37, for a total transaction of $35,442,266.69. Following the completion of the transaction, the insider directly owned 521,809 shares of the company’s stock, valued at $37,763,317.33. This trade represents a 48.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 1,003,056 shares of company stock worth $72,854,050 in the last ninety days. Company insiders own 10.85% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust increased its position in Circle Internet Group by 32.2% in the second quarter. Parkside Financial Bank & Trust now owns 981 shares of the company’s stock worth $61,000 after purchasing an additional 239 shares during the period. Corient Private Wealth LP increased its stake in Circle Internet Group by 20.7% in the second quarter. Corient Private Wealth LP now owns 7,688 shares of the company’s stock valued at $482,000 after purchasing an additional 1,318 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Circle Internet Group in the 2nd quarter valued at $2,409,000. California State Teachers Retirement System raised its position in shares of Circle Internet Group by 222,662.5% during the second quarter. California State Teachers Retirement System now owns 13,871,418 shares of the company’s stock worth $868,767,000 after purchasing an additional 13,865,191 shares during the period. Finally, Raiffeisen Bank International AG increased its position in shares of Circle Internet Group by 0.7% during the second quarter. Raiffeisen Bank International AG now owns 30,200 shares of the company’s stock worth $1,891,000 after acquiring an additional 200 shares in the last quarter.

About Circle Internet Group

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 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.