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

Circle Internet Group's (NYSE:CRCL - Get Free Report) quiet period will end on Tuesday, July 15th. Circle Internet Group had issued 34,000,000 shares in its IPO on June 5th. The total size of the offering was $1,054,000,000 based on an initial share price of $31.00. During the company's quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company's quiet period, it's expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analyst Weigh In

CRCL has been the subject of several research analyst reports. Sanford C. Bernstein initiated coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They issued an "outperform" rating and a $230.00 target price for the company. Canaccord Genuity Group initiated coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They issued a "buy" rating and a $247.00 target price for the company. Needham & Company LLC initiated coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They issued a "buy" rating and a $250.00 target price for the company. Robert W. Baird initiated coverage on shares of Circle Internet Group in a research report on Friday. They issued a "neutral" rating and a $210.00 target price for the company. Finally, Citigroup initiated coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They issued a "buy" rating and a $243.00 target price for the company. Three analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $182.09.

Circle Internet Group Stock Performance

NYSE:CRCL traded down $16.15 on Friday, reaching $186.75. 18,163,958 shares of the stock traded hands, compared to its average volume of 39,612,871. The firm has a market cap of $41.56 billion and a P/E ratio of -14,758.18. Circle Internet Group has a 12 month low of $64.00 and a 12 month high of $298.99.

Insider Buying and Selling at Circle Internet Group

In other news, Director Rajeev V. Date sold 50,000 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $29.30, for a total transaction of $1,465,000.00. Following the sale, the director owned 238,513 shares of the company's stock, valued at $6,988,430.90. This trade represents a 17.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Patrick Sean Neville sold 1,000,000 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $29.30, for a total transaction of $29,300,000.00. The disclosure for this sale can be found here. Insiders sold 6,682,884 shares of company stock worth $195,808,501 in the last 90 days.

Hedge Funds Weigh In On Circle Internet Group

A number of institutional investors and hedge funds have recently made changes to their positions in CRCL. Westbourne Investments Inc. bought a new stake in shares of Circle Internet Group during the second quarter valued at approximately $204,000. Brand Asset Management Group Inc. bought a new stake in Circle Internet Group in the 2nd quarter valued at $272,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Circle Internet Group in the 2nd quarter worth $673,000. Baader Bank Aktiengesellschaft bought a new position in shares of Circle Internet Group during the 2nd quarter valued at about $1,083,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Circle Internet Group during the second quarter valued at about $18,397,000.

Circle Internet Group Company Profile

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.