Circle Internet Group, Inc. (NYSE:CRCL) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Wall Street sentiment is mixed: The 24 analysts covering Circle Internet Group give the stock a consensus rating of “Hold”, with 10 buys, 10 holds, 3 sells, and 1 strong buy. The average 1-year price target is about $137.12.
• Recent insider selling has been notable: Director M. Michele Burns and CFO Jeremy Fox-Geen both sold shares in early May, and insiders sold 618,664 shares worth about $60.4 million over the last 90 days. Insiders still own about 10.85% of the company.
• Quarterly results topped revenue growth but missed EPS estimates: Circle reported $694.13 million in quarterly revenue, up 20% year over year, but earnings of $0.21 per share missed analyst expectations of $0.27. The stock opened at $111.48, well below its 52-week high of $298.99.

Shares of Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) have been given a consensus recommendation of "Hold" by the twenty-four analysts that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $137.1176.

A number of analysts have recently weighed in on CRCL shares. William Blair restated an "outperform" rating on shares of Circle Internet Group in a research note on Wednesday, February 25th. Canaccord Genuity Group reiterated a "buy" rating and issued a $160.00 price objective on shares of Circle Internet Group in a research report on Wednesday, March 25th. HC Wainwright upgraded Circle Internet Group from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $85.00 to $150.00 in a research report on Monday. Wall Street Zen lowered Circle Internet Group from a "hold" rating to a "sell" rating in a research report on Saturday, April 11th. Finally, Robert W. Baird lifted their price objective on Circle Internet Group from $110.00 to $138.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 17th.

Insider Transactions at Circle Internet Group

In related news, Director M Michele Burns sold 10,000 shares of Circle Internet Group stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $120.15, for a total value of $1,201,500.00. Following the completion of the sale, the director directly owned 330,206 shares in the company, valued at $39,674,250.90. This trade represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Fox-Geen sold 4,238 shares of Circle Internet Group stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $107.10, for a total value of $453,889.80. Following the completion of the sale, the chief financial officer owned 355,611 shares of the company's stock, valued at approximately $38,085,938.10. The trade was a 1.18% 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. Over the last 90 days, insiders sold 618,664 shares of company stock valued at $60,410,221. 10.85% of the stock is currently owned by insiders.

Institutional Trading of Circle Internet Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CloudAlpha Capital Management Limited Hong Kong boosted its holdings in Circle Internet Group by 181.1% during the third quarter. CloudAlpha Capital Management Limited Hong Kong now owns 283,964 shares of the company's stock worth $37,648,000 after buying an additional 182,954 shares during the last quarter. New York State Common Retirement Fund bought a new position in Circle Internet Group during the third quarter worth about $3,248,000. Vanguard Group Inc. boosted its holdings in Circle Internet Group by 61.6% during the third quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company's stock worth $739,624,000 after buying an additional 2,126,072 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Circle Internet Group by 98.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,575,684 shares of the company's stock worth $204,252,000 after buying an additional 1,276,310 shares during the last quarter. Finally, CenterBook Partners LP boosted its holdings in Circle Internet Group by 1,069.9% during the third quarter. CenterBook Partners LP now owns 66,357 shares of the company's stock worth $8,798,000 after buying an additional 60,685 shares during the last quarter.

Circle Internet Group Stock Performance

Shares of NYSE:CRCL opened at $111.48 on Thursday. Circle Internet Group has a twelve month low of $49.90 and a twelve month high of $298.99. The firm has a market cap of $27.52 billion and a PE ratio of -34.84. The business has a fifty day moving average of $107.17 and a 200-day moving average of $89.39.

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 for the quarter, missing analysts' consensus estimates of $0.27 by ($0.06). Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The business had revenue of $694.13 million during the quarter. Circle Internet Group's revenue for the quarter was up 20.0% compared to the same quarter last year. On average, analysts anticipate that Circle Internet Group will post 0.86 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.