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

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Shares of Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) have been assigned an average rating of "Hold" from the fourteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $170.9091.

CRCL has been the topic of several recent analyst reports. Barclays initiated coverage on shares of Circle Internet Group in a research note on Monday, June 30th. They set an "overweight" rating and a $215.00 target price on the stock. Wall Street Zen downgraded shares of Circle Internet Group from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Circle Internet Group from $163.00 to $123.00 and set a "hold" rating for the company in a report on Wednesday. Sanford C. Bernstein initiated coverage on shares of Circle Internet Group in a report on Monday, June 30th. They set an "outperform" rating and a $230.00 price target for the company. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $250.00 target price on shares of Circle Internet Group in a report on Wednesday.

Insider Activity

In related news, CFO Jeremy Fox-Geen sold 200,000 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $29.30, for a total transaction of $5,860,000.00. Following the completion of the transaction, the chief financial officer owned 320,371 shares in the company, valued at approximately $9,386,870.30. The trade was a 38.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jeremy Allaire sold 1,582,160 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $29.30, for a total transaction of $46,357,288.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,480,290 shares of company stock valued at $297,142,856.

Hedge Funds Weigh In On Circle Internet Group

Institutional investors and hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC purchased a new stake in Circle Internet Group in the second quarter valued at $27,000. North Star Investment Management Corp. purchased a new position in Circle Internet Group during the second quarter worth about $34,000. Hennessy Advisors Inc. purchased a new position in Circle Internet Group during the second quarter worth about $36,000. Allworth Financial LP purchased a new position in Circle Internet Group during the second quarter worth about $37,000. Finally, Chilton Capital Management LLC acquired a new position in Circle Internet Group during the second quarter worth about $40,000.

Circle Internet Group Trading Down 3.4%

NYSE:CRCL traded down $4.70 during mid-day trading on Tuesday, hitting $133.11. The company's stock had a trading volume of 3,297,817 shares, compared to its average volume of 26,245,131. Circle Internet Group has a 1 year low of $64.00 and a 1 year high of $298.99. The company has a market capitalization of $29.62 billion and a PE ratio of -10,519.20. The business's fifty day moving average price is $183.44.

About Circle Internet Group

Founded in 2013, Circle's mission is to raise global economic prosperity through the frictionless exchange of value. We intend to connect the world more deeply by building a new global economic system on the foundation of the internet, and to facilitate the creation of a world where everyone, everywhere can share value as easily as we can today share information, content, and communications.