Circle Internet Group (NYSE:CRCL) Stock Price Up 3.6% - What's Next?

Key Points

• Circle Internet Group's stock price rose by 3.6% during mid-day trading, reaching a high of $169.80 and closing at $164.81.
• Analyst ratings are varied, with Seaport Res Ptn issuing a "strong-buy" rating, while Wall Street Zen downgraded the stock to a "sell", leading to an overall average rating of "Hold" with a target price of $175.27.
• Insider trading activity includes CEO Jeremy Allaire selling over 1.5 million shares and a major shareholder offloading more than 3.5 million shares recently, signaling potential concerns among internal stakeholders.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) shares were up 3.6% during mid-day trading on Monday . The stock traded as high as $169.80 and last traded at $164.81. Approximately 5,634,836 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 27,988,992 shares. The stock had previously closed at $159.03.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CRCL shares. Robert W. Baird set a $185.00 target price on shares of Circle Internet Group and gave the stock a "neutral" rating in a research report on Wednesday. Mizuho set a $85.00 target price on shares of Circle Internet Group in a research report on Tuesday. Oppenheimer started coverage on shares of Circle Internet Group in a research report on Tuesday. They issued a "market perform" rating 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. Finally, Sanford C. Bernstein started coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They issued an "outperform" rating and a $230.00 target price on the stock. Four analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Circle Internet Group has an average rating of "Hold" and an average target price of $173.00.

Circle Internet Group Stock Performance

The company's 50 day moving average is $183.99. The stock has a market cap of $31.04 billion and a P/E ratio of -11,024.18.

Insiders Place Their Bets

In other news, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patrick Sean Neville sold 1,000,000 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 $29,300,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,682,884 shares of company stock valued at $195,808,501.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new stake in Circle Internet Group in the second quarter valued at $673,000. PFG Investments LLC acquired a new stake in Circle Internet Group in the second quarter valued at $579,000. EWA LLC acquired a new stake in Circle Internet Group in the second quarter valued at $279,000. Covenant Asset Management LLC acquired a new stake in Circle Internet Group in the second quarter valued at $363,000. Finally, KG&L Capital Management LLC acquired a new stake in Circle Internet Group in the second quarter valued at $528,000.

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.