Circle Internet Group (NYSE:CRCL) Trading 9.7% Higher - Time to Buy?

Shares of Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) rose 9.7% during trading on Thursday . The stock traded as high as $226.95 and last traded at $217.88. Approximately 25,338,987 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 48,356,918 shares. The stock had previously closed at $198.62.

Wall Street Analysts Forecast Growth

CRCL has been the subject of a number of analyst reports. Seaport Res Ptn raised Circle Internet Group to a "strong-buy" rating in a research note on Friday, June 20th. Wall Street Zen upgraded shares of Circle Internet Group to a "hold" rating in a research report on Saturday, June 14th. Finally, Compass Point started coverage on shares of Circle Internet Group in a research report on Tuesday. They set a "neutral" rating and a $205.00 price target for the company.

Circle Internet Group Price Performance

The stock has a market cap of $40.20 billion and a price-to-earnings ratio of -14,273.75.

Insiders Place Their Bets

In related news, insider Nikhil Chandhok sold 300,000 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $29.30, for a total transaction of $8,790,000.00. Following the sale, the insider now owns 605,580 shares in the company, valued at approximately $17,743,494. This trade represents a 33.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rajeev V. Date sold 50,000 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $29.30, for a total value of $1,465,000.00. Following the transaction, the director now directly owns 238,513 shares in the company, valued at approximately $6,988,430.90. This represents a 17.33% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,682,884 shares of company stock worth $195,808,501.

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.