Circle Internet Group, Inc. (NYSE:CRCL – Get Free Report) Director Danita Ostling sold 1,200 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $132.06, for a total transaction of $158,472.00. Following the completion of the sale, the director directly owned 22,590 shares in the company, valued at approximately $2,983,235.40. This trade represents a 5.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Circle Internet Group Trading Down 2.4%
Shares of NYSE:CRCL opened at $123.51 on Friday. The company has a 50-day moving average price of $106.70 and a 200-day moving average price of $89.99. The company has a market cap of $30.48 billion and a price-to-earnings ratio of -38.60. Circle Internet Group, Inc. has a 12 month low of $49.90 and a 12 month high of $298.99.
Circle Internet Group (NYSE:CRCL – Get Free Report) last posted its earnings results on Monday, May 11th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $694.13 million during the quarter. The company’s revenue was up 20.0% compared to the same quarter last year. As a group, research analysts forecast that Circle Internet Group, Inc. will post 0.86 EPS for the current fiscal year.
Institutional Inflows and Outflows
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on CRCL shares. Wells Fargo & Company boosted their target price on Circle Internet Group from $111.00 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Morgan Stanley set a $80.00 price target on shares of Circle Internet Group in a report on Monday, April 20th. Weiss Ratings reissued a “sell (d)” rating on shares of Circle Internet Group in a research report on Monday, April 20th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $101.00 price objective on shares of Circle Internet Group in a report on Tuesday. Finally, Mizuho raised their target price on shares of Circle Internet Group from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Circle Internet Group presently has an average rating of “Hold” and an average price target of $131.76.
Key Circle Internet Group News
Here are the key news stories impacting Circle Internet Group this week:
- Positive Sentiment: Circle’s latest quarterly report showed revenue growth of 20% year over year to $694.13 million, and the company posted an earnings beat in some reports, reinforcing the view that underlying business momentum remains solid. Earnings Beat: Circle Internet Group, Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models
- Positive Sentiment: Needham reaffirmed its Buy rating, and Mizuho lifted its price target to $135, adding support from Wall Street even after the recent run-up. Needham Reaffirms Their Buy Rating on Circle Internet Group, Inc. Class A (CRCL) Circle Internet Group (NYSE:CRCL) Given New $135.00 Price Target at Mizuho
- Positive Sentiment: Several hedge funds recently initiated positions, suggesting institutional investors continue to see long-term potential in Circle’s stablecoin and blockchain infrastructure business. Circle May Be the Biggest Winner of America’s Stablecoin Shift
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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