Circle Internet Group (NYSE:CRCL) Trading Up 1.2% - Should You Buy?

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report)'s stock price was up 1.2% during mid-day trading on Thursday . The company traded as high as $209.57 and last traded at $203.18. Approximately 7,178,482 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 40,303,977 shares. The stock had previously closed at $200.68.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CRCL shares. The Goldman Sachs Group started coverage on Circle Internet Group in a research note on Monday, June 30th. They issued a "neutral" rating and a $83.00 price objective on the stock. Canaccord Genuity Group started coverage on Circle Internet Group in a research note on Monday, June 30th. They issued a "buy" rating and a $247.00 price objective on the stock. Needham & Company LLC started coverage on Circle Internet Group in a research note on Monday, June 30th. They issued a "buy" rating and a $250.00 price objective on the stock. Wall Street Zen downgraded Circle Internet Group from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Finally, Mizuho started coverage on Circle Internet Group in a research note on Tuesday. They issued an "underperform" rating and a $85.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Circle Internet Group currently has a consensus rating of "Hold" and an average price target of $179.30.

Circle Internet Group Price Performance

The stock has a market cap of $44.94 billion and a price-to-earnings ratio of -15,960.17.

Insider Activity

In other Circle Internet Group news, CFO Jeremy Fox-Geen sold 200,000 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $29.30, for a total value of $5,860,000.00. Following the transaction, the chief financial officer owned 320,371 shares of the company's stock, valued at $9,386,870.30. This represents a 38.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jeremy Allaire sold 1,582,160 shares of the company's 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. In the last quarter, insiders have sold 6,682,884 shares of company stock worth $195,808,501.

Hedge Funds Weigh In On Circle Internet Group

Hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC bought a new position in Circle Internet Group in the 2nd quarter valued at $673,000. Baader Bank Aktiengesellschaft bought a new position in Circle Internet Group in the 2nd quarter valued at $1,083,000. Exchange Traded Concepts LLC bought a new position in Circle Internet Group in the 2nd quarter valued at $18,397,000. Westbourne Investments Inc. bought a new position in Circle Internet Group in the 2nd quarter valued at $204,000. Finally, Brand Asset Management Group Inc. bought a new position in Circle Internet Group in the 2nd quarter valued at $272,000.

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.