Circle Internet Group, Inc. (NYSE:CRCL) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts are cautious on CRCL: The stock has a consensus rating of “Hold” from 24 brokerages, with an average 12-month price target of $117.38. The breakdown includes 2 sells, 13 holds, 8 buys, and 1 strong buy.
• Insiders have been selling shares: Director Patrick Sean Neville and insider Nikhil Chandhok recently sold large blocks of stock, and insiders have sold 1.95 million shares worth about $156.5 million over the past 90 days.
• Recent results and stock performance were mixed: Circle reported $0.21 EPS versus expectations of $0.27, though revenue rose 20% year over year to $694.13 million. Shares opened at $62.99, well below the 52-week high of $262.97.

Shares of Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) have been given an average recommendation of "Hold" by the twenty-four brokerages that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, thirteen have given a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $117.3750.

Several research firms have recently issued reports on CRCL. Zacks Research raised Circle Internet Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, March 17th. Weiss Ratings reissued a "sell (d)" rating on shares of Circle Internet Group in a report on Monday, April 20th. Mizuho decreased their price target on shares of Circle Internet Group from $135.00 to $85.00 and set a "neutral" rating for the company in a research report on Friday, June 5th. Freedom Capital upgraded shares of Circle Internet Group to a "hold" rating in a research report on Tuesday, April 21st. Finally, Wall Street Zen lowered shares of Circle Internet Group from a "hold" rating to a "sell" rating in a report on Saturday, April 11th.

Insider Buying and Selling at Circle Internet Group

In other Circle Internet Group news, Director Patrick Sean Neville sold 1,034,396 shares of the company'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 in the company, valued at approximately $167,231.66. The trade was a 99.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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. Also, insider Nikhil Chandhok sold 489,737 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $72.37, for a total value of $35,442,266.69. Following the completion of the sale, the insider directly owned 521,809 shares of the company's stock, valued at approximately $37,763,317.33. The trade was a 48.41% decrease in their position. 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 1,954,861 shares of company stock worth $156,473,563 over the last 90 days. Company insiders own 10.85% of the company's stock.

Hedge Funds Weigh In On Circle Internet Group

A number of hedge funds and other institutional investors have recently made changes to their positions in CRCL. General Catalyst Group Management LLC acquired a new stake in Circle Internet Group during the 2nd quarter valued at approximately $3,647,694,000. IDG Accel China Capital II Associates L.P. bought a new position in Circle Internet Group during the 4th quarter worth approximately $554,792,000. Accel XI Associates L.L.C. acquired a new position in shares of Circle Internet Group in the 4th quarter worth approximately $513,844,000. Southpoint Capital Advisors LP lifted its position in shares of Circle Internet Group by 175.0% in the 1st quarter. Southpoint Capital Advisors LP now owns 3,300,000 shares of the company's stock worth $314,853,000 after purchasing an additional 2,100,000 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of Circle Internet Group in the 4th quarter valued at $163,948,000.

Circle Internet Group Stock Performance

Shares of CRCL opened at $62.99 on Friday. Circle Internet Group has a 52 week low of $49.90 and a 52 week high of $262.97. The stock has a market capitalization of $15.66 billion and a price-to-earnings ratio of -19.69. The stock has a fifty day moving average of $92.15 and a 200-day moving average of $88.68.

Circle Internet Group (NYSE:CRCL - Get Free Report) last posted its earnings results on Monday, May 11th. The company reported $0.21 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $694.13 million during the quarter. The firm's quarterly revenue was up 20.0% compared to the same quarter last year. As a group, equities analysts forecast that Circle Internet Group will post 1.02 EPS for the current 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.

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