Circle Internet Group (NYSE:CRCL) Shares Up 7.9% on Analyst Upgrade

Key Points

• Shares of Circle Internet Group jumped 7.9% after Mizuho raised its price target from $100 to $120; the stock traded as high as $125.75 and was last at $124.53 on mid‑day volume below average.
• Circle beat quarterly expectations with EPS of $0.43 vs. $0.25 consensus and reported revenue of $770.23 million, up 76.9% year‑over‑year.
• Insiders have been selling significant positions (including 80,000 shares by director M. Michele Burns), with 462,567 shares sold totaling roughly $43.97 million in the past 90 days, while analyst consensus remains a Hold with a $124.65 target.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) was up 7.9% during mid-day trading on Monday after Mizuho raised their price target on the stock from $100.00 to $120.00. Mizuho currently has a neutral rating on the stock. Circle Internet Group traded as high as $125.75 and last traded at $124.5320. Approximately 8,686,490 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 14,636,678 shares. The stock had previously closed at $115.38.

CRCL has been the subject of several other research reports. Needham & Company LLC dropped their target price on shares of Circle Internet Group from $190.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, February 26th. Compass Point raised Circle Internet Group from a "sell" rating to a "neutral" rating and set a $75.00 price objective for the company in a research note on Thursday, January 29th. The Goldman Sachs Group lifted their target price on Circle Internet Group from $79.00 to $88.00 and gave the company a "neutral" rating in a research note on Monday, January 5th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Circle Internet Group in a report on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Circle Internet Group from $147.00 to $90.00 and set a "hold" rating on the stock in a report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $124.65.

Insider Buying and Selling at Circle Internet Group

In related news, Director M Michele Burns sold 80,000 shares of the firm's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $94.88, for a total value of $7,590,400.00. Following the sale, the director directly owned 305,230 shares of the company's stock, valued at approximately $28,960,222.40. This trade represents a 20.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rajeev V. Date sold 23,254 shares of the company's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $89.62, for a total value of $2,084,023.48. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 462,567 shares of company stock worth $43,969,052.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CRCL. Bartlett & CO. Wealth Management LLC purchased a new stake in Circle Internet Group during the fourth quarter worth approximately $25,000. Larson Financial Group LLC raised its holdings in Circle Internet Group by 3,800.0% in the third quarter. Larson Financial Group LLC now owns 195 shares of the company's stock valued at $26,000 after acquiring an additional 190 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Circle Internet Group in the 3rd quarter valued at about $27,000. EverSource Wealth Advisors LLC acquired a new position in Circle Internet Group in the second quarter worth about $27,000. Finally, Bellevue Asset Management LLC acquired a new position in Circle Internet Group during the 4th quarter valued at approximately $29,000.

Circle Internet Group Stock Performance

The stock has a 50 day moving average of $77.42 and a 200 day moving average of $97.71. The stock has a market capitalization of $29.17 billion and a P/E ratio of -67.01.

Circle Internet Group (NYSE:CRCL - Get Free Report) last posted its earnings results on Wednesday, February 25th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.18. The company had revenue of $770.23 million during the quarter. The company's revenue was up 76.9% compared to the same quarter last 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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