Circle Internet Group (NYSE:CRCL) Stock Price Up 3.6% - Should You Buy?

Key Points

• Circle Internet Group (NYSE:CRCL) shares rose by 3.6%, reaching a trading high of $132.25, although trading volume fell significantly to 2.29 million shares.
• Equities analysts have set varied price targets for CRCL, with a consensus rating of "Hold" and an average price target of $170.91, despite one analyst giving a Strong Buy rating.
• Insider trading activity included significant sales, with CEO Jeremy Allaire selling over 1.58 million shares and insiders unloading a total of 7.48 million shares in the last three months.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) shares were up 3.6% during mid-day trading on Thursday . The stock traded as high as $132.25 and last traded at $131.99. Approximately 2,291,025 shares traded hands during trading, a decline of 91% from the average daily volume of 24,666,750 shares. The stock had previously closed at $127.40.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CRCL shares. Robert W. Baird decreased their target price on Circle Internet Group from $210.00 to $185.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 13th. Compass Point lowered Circle Internet Group from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $205.00 to $130.00 in a research note on Monday, July 21st. JPMorgan Chase & Co. increased their target price on Circle Internet Group from $80.00 to $89.00 and gave the stock an "underweight" rating in a research note on Tuesday, August 19th. Oppenheimer initiated coverage on Circle Internet Group in a research report on Tuesday, August 12th. They issued a "market perform" rating on the stock. Finally, Mizuho set a $85.00 price target on Circle Internet Group in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $170.91.

Circle Internet Group Stock Performance

The company has a 50-day moving average price of $181.58. The firm has a market capitalization of $30.06 billion and a price-to-earnings ratio of -10,354.83.

Insider Transactions at Circle Internet Group

In related news, insider Nikhil Chandhok sold 300,000 shares of Circle Internet Group stock in a transaction 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 directly owned 605,580 shares in the company, valued at $17,743,494. This trade represents a 33.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $46,357,288.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,480,290 shares of company stock worth $297,142,856.

Institutional Inflows and Outflows

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

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.

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