Circle Internet Group (NYSE:CRCL) Shares Up 1.4% - Here's Why

Key Points

• Shares of Circle Internet Group (NYSE:CRCL) increased by 1.4% during trading, closing at $141.22, following a previous close of $139.23.
• Analysts display mixed sentiments, with a consensus rating of "Hold" and a range of price targets indicating potential upside; Canaccord Genuity set a price target of $247.00 while Goldman Sachs targets $83.00.
• Insider trading activity was significant, with Director Patrick Sean Neville and CEO Jeremy Allaire selling 1,000,000 and 1,582,160 shares respectively, indicating potential confidence or strategy shifts regarding the company's stock.

Shares of Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) shot up 1.4% during trading on Friday . The stock traded as high as $145.55 and last traded at $141.22. 10,786,485 shares changed hands during trading, a decline of 61% from the average session volume of 27,464,174 shares. The stock had previously closed at $139.23.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CRCL shares. Canaccord Genuity Group started coverage on shares of Circle Internet Group in a report on Monday, June 30th. They issued a "buy" rating and a $247.00 price target on the stock. Robert W. Baird set a $185.00 price objective on shares of Circle Internet Group and gave the stock a "neutral" rating in a report on Wednesday. The Goldman Sachs Group began coverage on shares of Circle Internet Group in a research report on Tuesday. They issued a "neutral" rating and a $83.00 target price for the company. Mizuho set a $85.00 target price on shares of Circle Internet Group in a research report on Tuesday. Finally, Needham & Company LLC began coverage on shares of Circle Internet Group in a report on Wednesday, July 16th. They issued a "buy" rating for the company. Four investment analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $173.00.

Circle Internet Group Price Performance

The company has a 50-day moving average of $183.99. The company has a market capitalization of $33.19 billion and a price-to-earnings ratio of -11,784.42.

Insiders Place Their Bets

In other Circle Internet Group 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 transaction of $29,300,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeremy Allaire sold 1,582,160 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 $46,357,288.00. The disclosure for this sale can be found here. Insiders sold 6,682,884 shares of company stock valued at $195,808,501 over the last ninety days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Maytus Capital Management LLC bought a new position in shares of Circle Internet Group in the second quarter valued at about $1,595,000. Lazard Asset Management LLC bought a new position in shares of Circle Internet Group in the second quarter valued at about $445,000. Fortress Investment Group LLC bought a new position in shares of Circle Internet Group in the second quarter valued at about $1,450,000. G2 Investment Partners Management LLC bought a new position in shares of Circle Internet Group in the second quarter valued at about $2,249,000. Finally, Gilder Gagnon Howe & Co. LLC bought a new position in shares of Circle Internet Group in the second quarter valued at about $37,365,000.

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.

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