Circle Internet Group (NYSE:CRCL) Trading Up 6.9% – What’s Next?

Circle Internet Group, Inc. (NYSE:CRCLGet Free Report)’s stock price rose 6.9% during trading on Tuesday . The stock traded as high as $70.24 and last traded at $71.7060. 1,968,545 shares traded hands during trading, a decline of 87% from the average daily volume of 14,728,065 shares. The stock had previously closed at $67.05.

Analyst Upgrades and Downgrades

CRCL has been the topic of several research reports. Susquehanna began coverage on Circle Internet Group in a research report on Wednesday, July 1st. They issued a “neutral” rating and a $69.00 target price on the stock. Wall Street Zen cut Circle Internet Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Wells Fargo & Company upped their target price on Circle Internet Group from $111.00 to $142.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. HC Wainwright reduced their price target on shares of Circle Internet Group from $115.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $101.00 price objective on shares of Circle Internet Group in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Circle Internet Group has a consensus rating of “Hold” and an average price target of $96.82.

Get Our Latest Analysis on CRCL

Circle Internet Group Stock Up 6.4%

The business’s 50-day simple moving average is $70.80 and its two-hundred day simple moving average is $86.00. The firm has a market cap of $17.73 billion, a price-to-earnings ratio of 48.83 and a beta of 0.22.

Circle Internet Group (NYSE:CRCLGet Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.08). The business had revenue of $701.32 million for the quarter. Circle Internet Group had a net margin of 15.53% and a return on equity of 13.58%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($4.48) EPS. On average, analysts expect that Circle Internet Group, Inc. will post 0.88 earnings per share for the current year.

Insider Buying and Selling at Circle Internet Group

In other news, insider Hossein Razzaghi sold 34,623 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $78.85, for a total transaction of $2,730,023.55. Following the transaction, the insider owned 666,404 shares in the company, valued at $52,545,955.40. This trade represents a 4.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Heath Tarbert sold 39,240 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $81.47, for a total transaction 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. The trade was a 7.24% 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. Over the last quarter, insiders sold 2,027,497 shares of company stock worth $157,496,368. 10.85% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CRCL. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Circle Internet Group during the fourth quarter valued at approximately $25,000. Larson Financial Group LLC boosted its stake in shares of Circle Internet Group by 3,800.0% in the third quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock worth $26,000 after acquiring an additional 190 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of Circle Internet Group during the second quarter worth approximately $27,000. Bellevue Asset Management LLC purchased a new stake in shares of Circle Internet Group during the fourth quarter worth approximately $29,000. Finally, Harbour Investments Inc. raised its stake in Circle Internet Group by 170.0% in the 4th quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock valued at $30,000 after purchasing an additional 238 shares during the last quarter.

Circle Internet Group Company Profile

(Get Free Report)

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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