Circle Internet Group (NYSE:CRCL) Shares Gap Up - Should You Buy?

Shares of Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $195.33, but opened at $203.05. Circle Internet Group shares last traded at $209.80, with a volume of 9,023,627 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have issued reports on CRCL shares. Sanford C. Bernstein started coverage on shares of Circle Internet Group in a research note on Monday, June 30th. They issued an "outperform" rating and a $230.00 price target on the stock. Mizuho began coverage on shares of Circle Internet Group in a research note on Tuesday, July 8th. They issued an "underperform" rating and a $85.00 price target on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Circle Internet Group in a research note on Monday, June 30th. They set a "hold" rating and a $155.00 price objective on the stock. Baird R W upgraded shares of Circle Internet Group to a "hold" rating in a research note on Friday, July 11th. Finally, Robert W. Baird began coverage on shares of Circle Internet Group in a research note on Friday, July 11th. They set a "neutral" rating and a $210.00 price objective on the stock. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $182.09.

Circle Internet Group Trading Down 4.8%

The firm has a market capitalization of $49.79 billion and a P/E ratio of -17,682.16.

Insider Buying and Selling at Circle Internet Group

In related news, Director Patrick Sean Neville sold 1,000,000 shares of Circle Internet Group 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rajeev V. Date sold 50,000 shares of Circle Internet Group stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $29.30, for a total transaction of $1,465,000.00. Following the sale, the director directly owned 238,513 shares of the company's stock, valued at $6,988,430.90. The trade was a 17.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,682,884 shares of company stock worth $195,808,501 in the last ninety days.

Institutional Trading of Circle Internet Group

Institutional investors have recently bought and sold shares of the business. North Star Investment Management Corp. bought a new stake in Circle Internet Group in the 2nd quarter valued at about $34,000. Compagnie Lombard Odier SCmA bought a new stake in Circle Internet Group in the 2nd quarter valued at about $79,000. Westbourne Investments Inc. bought a new stake in Circle Internet Group in the 2nd quarter valued at about $204,000. Truist Financial Corp bought a new stake in shares of Circle Internet Group during the 2nd quarter worth approximately $218,000. Finally, Masso Torrence Wealth Management Inc. bought a new stake in shares of Circle Internet Group during the 2nd quarter worth approximately $245,000.

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.