Circle Internet Group (NYSE:CRCL) Trading 3% Higher - Still a 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 shot up 3% during trading on Friday . The company traded as high as $147.70 and last traded at $144.57. 16,039,173 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 22,234,979 shares. The stock had previously closed at $140.42.

Analyst Ratings Changes

A number of research firms have commented on CRCL. Sanford C. Bernstein began coverage on shares of Circle Internet Group in a report on Monday, June 30th. They issued an "outperform" rating and a $230.00 price target for the company. Oppenheimer began coverage on shares of Circle Internet Group in a report on Friday, September 12th. They issued a "market perform" rating for the company. Seaport Res Ptn upgraded shares of Circle Internet Group to a "strong-buy" rating in a report on Friday, June 20th. Citigroup assumed coverage on shares of Circle Internet Group in a report on Monday, June 30th. They set a "buy" rating and a $243.00 price objective for the company. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $247.00 price objective on shares of Circle Internet Group in a report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, Circle Internet Group has an average rating of "Hold" and a consensus target price of $170.91.

Circle Internet Group Trading Down 4.5%

The business's fifty day simple moving average is $154.21.

Insiders Place Their Bets

In other Circle Internet Group news, Director Patrick Sean Neville sold 260,374 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $127.08, for a total value of $33,088,327.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeremy Allaire sold 357,812 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $127.08, for a total transaction of $45,470,748.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 831,014 shares of company stock worth $105,416,046.

Institutional Trading of Circle Internet Group

A number of hedge funds and other institutional investors have recently modified their holdings of CRCL. General Catalyst Group Management LLC purchased a new stake in shares of Circle Internet Group in the 2nd quarter worth about $3,647,694,000. Marshall Wace LLP purchased a new stake in shares of Circle Internet Group in the 2nd quarter worth about $1,547,214,000. ARK Investment Management LLC purchased a new stake in shares of Circle Internet Group in the 2nd quarter worth about $530,165,000. Squarepoint Ops LLC purchased a new stake in shares of Circle Internet Group in the 2nd quarter worth about $73,101,000. Finally, Nikko Asset Management Americas Inc. purchased a new stake in shares of Circle Internet Group in the 2nd quarter worth about $72,486,000.

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.