Circle Internet Group, Inc.'s (NYSE:CRCL) Quiet Period Will End on July 15th

Circle Internet Group's (NYSE:CRCL - Get Free Report) quiet period is set to expire on Tuesday, July 15th. Circle Internet Group had issued 34,000,000 shares in its initial public offering on June 5th. The total size of the offering was $1,054,000,000 based on an initial share price of $31.00. During Circle Internet Group's quiet period, insiders and any underwriters involved in the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company's quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Ratings Changes

A number of equities analysts have issued reports on CRCL shares. Mizuho started coverage on Circle Internet Group in a research report on Tuesday. They set an "underperform" rating and a $85.00 price target on the stock. Seaport Res Ptn upgraded Circle Internet Group to a "strong-buy" rating in a research report on Friday, June 20th. Compass Point started coverage on Circle Internet Group in a research report on Tuesday, June 24th. They issued a "neutral" rating and a $205.00 target price on the stock. Deutsche Bank Aktiengesellschaft started coverage on Circle Internet Group in a research report on Monday, June 30th. They issued a "hold" rating and a $155.00 target price on the stock. Finally, Canaccord Genuity Group started coverage on Circle Internet Group in a research report on Monday, June 30th. They issued a "buy" rating and a $247.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Circle Internet Group presently has an average rating of "Hold" and an average target price of $179.30.

Circle Internet Group Trading Down 1.4%

Shares of NYSE CRCL traded down $2.95 during trading on Tuesday, reaching $204.51. The stock had a trading volume of 22,160,060 shares, compared to its average volume of 42,960,992. Circle Internet Group has a fifty-two week low of $64.00 and a fifty-two week high of $298.99. The stock has a market capitalization of $45.51 billion and a PE ratio of -16,161.69.

Insiders Place Their Bets

In other news, Director Patrick Sean Neville sold 1,000,000 shares of Circle Internet Group stock in a transaction on Friday, June 6th. The stock was sold at an average price of $29.30, for a total value of $29,300,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeremy Fox-Geen sold 200,000 shares of Circle Internet Group stock in a transaction on Friday, June 6th. The shares were sold at an average price of $29.30, for a total value of $5,860,000.00. Following the completion of the sale, the chief financial officer directly owned 320,371 shares of the company's stock, valued at $9,386,870.30. The trade was a 38.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,682,884 shares of company stock valued at $195,808,501.

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.