Circle Internet Group, Inc. (NYSE:CRCL) Stock Now Rated “Hold” by Wall Street Brokerages

Circle Internet Group, Inc. (NYSE:CRCL) has been assigned a consensus rating of “Hold” from the twenty-four brokerages that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, ten have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $98.24.

Several research firms have recently issued reports on CRCL. TD Cowen boosted their price target on shares of Circle Internet Group from $87.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, September 17th. Wolfe Research lifted their price objective on shares of Circle Internet Group from $50.00 to $65.00 and gave the company an “underperform” rating in a research note on Tuesday, August 25th. Zacks Research raised shares of Circle Internet Group from a “hold” rating to a “strong-buy” rating in a report on Friday, October 16th. Wall Street Zen lowered Circle Internet Group from a “sell” rating to a “strong sell” rating in a report on Sunday, October 11th. Finally, Raymond James Financial began coverage on Circle Internet Group in a research report on Tuesday, July 21st. They issued a “market perform” rating for the company.

Insider Buying and Selling

In other Circle Internet Group news, Director Patrick Neville sold 50,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $59.55, for a total value of $2,977,500.00. Following the sale, the director directly owned 2,018 shares in the company, valued at $120,171.90. This represents a 96.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Fox-Geen sold 45,000 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $90.00, for a total transaction of $4,050,000.00. Following the completion of the transaction, the chief financial officer directly owned 323,837 shares of the company’s stock, valued at approximately $29,145,330. The trade was a 12.20% decrease in their ownership of the stock. 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. Insiders sold 485,657 shares of company stock valued at $39,207,306 in the last three months. Insiders own 10.85% of the company’s stock.

Hedge Funds Weigh In On Circle Internet Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP raised its holdings in shares of Circle Internet Group by 9.1% in the 2nd quarter. Allworth Financial LP now owns 1,267 shares of the company’s stock valued at $79,000 after acquiring an additional 106 shares in the last quarter. GAMMA Investing LLC grew its stake in Circle Internet Group by 28.6% in the 2nd quarter. GAMMA Investing LLC now owns 715 shares of the company’s stock worth $45,000 after buying an additional 159 shares in the last quarter. Raiffeisen Bank International AG increased its holdings in shares of Circle Internet Group by 0.7% in the 2nd quarter. Raiffeisen Bank International AG now owns 30,200 shares of the company’s stock worth $1,891,000 after buying an additional 200 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Circle Internet Group by 32.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 981 shares of the company’s stock worth $61,000 after buying an additional 239 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Circle Internet Group by 12.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,221 shares of the company’s stock valued at $140,000 after buying an additional 251 shares in the last quarter.

Circle Internet Group Price Performance

NYSE CRCL opened at $86.65 on Friday. The company has a fifty day moving average price of $87.31 and a 200-day moving average price of $86.43. Circle Internet Group has a 1 year low of $49.90 and a 1 year high of $147.44. The firm has a market cap of $22.00 billion, a price-to-earnings ratio of 61.44 and a beta of 0.73.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.08). Circle Internet Group had a net margin of 15.53% and a return on equity of 13.58%. The company had revenue of $701.32 million for the quarter. During the same period in the prior year, the firm posted ($4.48) EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, research analysts anticipate that Circle Internet Group will post 1.10 EPS for the current fiscal year.

About Circle Internet Group

Circle Internet Group, Inc is a global financial technology company focused on digital currencies and blockchain-based payments. The company is best known for issuing USD Coin (USDC), a dollar-backed stablecoin designed to maintain a value of one U.S. dollar and support digital transactions, payments, trading and other financial applications. Circle also issues EURC, a euro-backed stablecoin.

Circle provides infrastructure and services for businesses, financial institutions and developers through products such as Circle Mint, which supports the creation, redemption and transfer of its stablecoins, as well as APIs and developer tools for integrating digital-asset payments and blockchain functionality.