Circle Internet Group (NYSE:CRCL) Trading Up 1.1% - Still a Buy?

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report)'s stock price traded up 1.1% during mid-day trading on Wednesday . The company traded as high as $202.20 and last traded at $200.51. 5,045,265 shares traded hands during trading, a decline of 86% from the average session volume of 35,596,793 shares. The stock had previously closed at $198.31.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CRCL. JPMorgan Chase & Co. started coverage on shares of Circle Internet Group in a report on Monday, June 30th. They issued an "underweight" rating and a $80.00 price objective on the stock. Seaport Res Ptn raised shares of Circle Internet Group to a "strong-buy" rating in a research report on Friday, June 20th. Wall Street Zen cut shares of Circle Internet Group from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. The Goldman Sachs Group started coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They set a "neutral" rating and a $83.00 price objective for the company. Finally, Robert W. Baird started coverage on shares of Circle Internet Group in a report on Friday, July 11th. They set a "neutral" rating and a $210.00 target price on the stock. Four research 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $175.27.

Circle Internet Group Trading Down 0.2%

The company has a market capitalization of $42.88 billion and a P/E ratio of -15,228.39.

Insider Activity

In other Circle Internet Group news, Director Rajeev V. Date sold 50,000 shares of the firm's stock in a transaction on 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 transaction, the director directly owned 238,513 shares of the company's stock, valued at approximately $6,988,430.90. This trade represents a 17.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nikhil Chandhok sold 300,000 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $29.30, for a total transaction of $8,790,000.00. Following the transaction, the insider directly owned 605,580 shares in the company, valued at $17,743,494. The trade was a 33.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,682,884 shares of company stock worth $195,808,501 over the last three months.

Institutional Trading of Circle Internet Group

Several hedge funds and other institutional investors have recently made changes to their positions in CRCL. Liberty Street Advisors Inc. acquired a new position in Circle Internet Group during the second quarter worth $52,610,000. Exchange Traded Concepts LLC acquired a new stake in shares of Circle Internet Group during the 2nd quarter worth about $18,397,000. Endowment Wealth Management Inc. purchased a new stake in shares of Circle Internet Group during the second quarter worth about $18,129,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Circle Internet Group in the second quarter valued at approximately $5,330,000. Finally, Franchise Capital Ltd acquired a new position in shares of Circle Internet Group in the second quarter valued at approximately $1,813,000.

About Circle Internet Group

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.