Circle Internet Group (NYSE:CRCL) Trading 3% Higher - Time to Buy?

Key Points

• Circle Internet Group's stock price increased by 3% during trading on Friday, reaching a high of $147.70 before closing at $144.57.
• Analyst ratings for Circle Internet Group are mixed, with one rating it as "Strong Buy," while others range from "Buy" to "Sell," resulting in a consensus rating of "Hold" and an average price target of $170.91.
• Recent insider trading activity includes a notable sale of 260,374 shares by Director Patrick Sean Neville, totaling over $33 million.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report)'s stock price was up 3% on Friday . The company traded as high as $147.70 and last traded at $144.57. Approximately 16,039,173 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 22,234,979 shares. The stock had previously closed at $140.42.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CRCL shares. Seaport Res Ptn raised shares of Circle Internet Group to a "strong-buy" rating in a research report on Friday, June 20th. Oppenheimer began coverage on shares of Circle Internet Group in a research report on Friday, September 12th. They set a "market perform" rating for the company. Mizuho set a $85.00 price target on shares of Circle Internet Group in a research report on Tuesday, August 12th. Wall Street Zen lowered shares of Circle Internet Group from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Finally, Compass Point lowered shares of Circle Internet Group from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $205.00 to $130.00 in a research report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $170.91.

Circle Internet Group Stock Up 3.0%

The stock has a 50 day moving average of $155.54. The firm has a market cap of $33.17 billion and a P/E ratio of -11,424.85.

Insider Buying and Selling at Circle Internet Group

In related news, Director Rajeev V. Date sold 33,400 shares of the firm's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $127.08, for a total transaction of $4,244,472.00. Following the completion of the sale, the director directly owned 248,663 shares of the company's stock, valued at approximately $31,600,094.04. This trade represents a 11.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patrick Sean Neville sold 260,374 shares of the firm's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $127.08, for a total transaction of $33,088,327.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 831,014 shares of company stock worth $105,416,046.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Baader Bank Aktiengesellschaft bought a new stake in shares of Circle Internet Group during the 2nd quarter worth about $1,083,000. Exchange Traded Concepts LLC purchased a new position in shares of Circle Internet Group in the second quarter worth approximately $18,397,000. Brand Asset Management Group Inc. purchased a new position in shares of Circle Internet Group in the second quarter worth approximately $272,000. Westbourne Investments Inc. acquired a new stake in shares of Circle Internet Group during the second quarter worth approximately $204,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Circle Internet Group during the second quarter worth approximately $673,000.

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.