Circle Internet Group (NYSE:CRCL – Get Free Report) was upgraded by research analysts at Mizuho from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Friday,Zacks.com reports.
A number of other equities analysts have also recently weighed in on CRCL. Wells Fargo & Company lifted their price target on Circle Internet Group from $111.00 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Morgan Stanley upped their price objective on shares of Circle Internet Group from $80.00 to $106.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 19th. Raymond James Financial began coverage on shares of Circle Internet Group in a report on Tuesday, July 21st. They issued a “market perform” rating for the company. Wall Street Zen downgraded shares of Circle Internet Group from a “sell” rating to a “strong sell” rating in a research report on Saturday. Finally, Susquehanna initiated coverage on shares of Circle Internet Group in a report on Wednesday, July 1st. They set a “neutral” rating and a $69.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Circle Internet Group currently has a consensus rating of “Hold” and a consensus target price of $109.81.
Circle Internet Group Stock Down 2.6%
Circle Internet Group (NYSE:CRCL – Get Free Report) last announced its earnings results on Monday, May 11th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.06). Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.The company had revenue of $694.13 million for the quarter. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, equities research analysts anticipate that Circle Internet Group will post 0.86 EPS for the current fiscal year.
Insider Activity
In related news, President Heath Tarbert sold 39,240 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $81.47, for a total value of $3,196,882.80. Following the completion of the sale, the president directly owned 502,558 shares of the company’s stock, valued at approximately $40,943,400.26. This represents a 7.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Patrick Sean Neville sold 1,034,396 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $82.87, for a total value of $85,720,396.52. Following the sale, the director owned 2,018 shares of the company’s stock, valued at $167,231.66. The trade was a 99.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 1,914,327 shares of company stock valued at $151,802,213 in the last ninety days. Corporate insiders own 10.85% of the company’s stock.
Institutional Investors Weigh In On Circle Internet Group
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC bought a new stake in shares of Circle Internet Group in the 2nd quarter valued at approximately $27,000. GAMMA Investing LLC raised its position in Circle Internet Group by 28.6% during the second quarter. GAMMA Investing LLC now owns 715 shares of the company’s stock valued at $45,000 after acquiring an additional 159 shares in the last quarter. Larson Financial Group LLC raised its position in Circle Internet Group by 3,800.0% during the third quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after acquiring an additional 190 shares in the last quarter. Harbour Investments Inc. lifted its stake in Circle Internet Group by 170.0% in the fourth quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock valued at $30,000 after acquiring an additional 238 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Circle Internet Group by 12.7% in the second quarter. Farther Finance Advisors LLC now owns 2,221 shares of the company’s stock valued at $140,000 after acquiring an additional 251 shares during the last quarter.
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 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.
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