Circle Internet Group (NYSE:CRCL) Stock Price Up 3.9% - Time to Buy?

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) shares shot up 3.9% during mid-day trading on Monday . The stock traded as high as $192.50 and last traded at $187.46. 16,914,439 shares were traded during trading, a decline of 64% from the average session volume of 47,623,180 shares. The stock had previously closed at $180.43.

Analyst Ratings Changes

A number of analysts recently weighed in on CRCL shares. Seaport Res Ptn raised shares of Circle Internet Group to a "strong-buy" rating in a report on Friday, June 20th. Deutsche Bank Aktiengesellschaft started coverage on shares of Circle Internet Group in a research note on Monday. They issued a "hold" rating and a $155.00 price target on the stock. The Goldman Sachs Group began coverage on Circle Internet Group in a report on Monday. They set a "neutral" rating and a $83.00 price target on the stock. Needham & Company LLC assumed coverage on Circle Internet Group in a report on Monday. They issued a "buy" rating and a $250.00 price objective for the company. Finally, Wall Street Zen downgraded Circle Internet Group from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Circle Internet Group currently has a consensus rating of "Hold" and an average target price of $189.78.

Circle Internet Group Price Performance

The stock has a market capitalization of $39.66 billion and a price-to-earnings ratio of -14,084.87.

Insider Activity at Circle Internet Group

In other news, insider Nikhil Chandhok sold 300,000 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 $8,790,000.00. Following the completion of the sale, the insider owned 605,580 shares in the company, valued at $17,743,494. This represents a 33.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Catalyst Group Vi L.P General sold 3,550,724 shares of Circle Internet Group stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $29.30, for a total value of $104,036,213.20. Following the transaction, the insider directly owned 20,120,769 shares in the company, valued at approximately $589,538,531.70. The trade was a 15.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,682,884 shares of company stock worth $195,808,501 in the last quarter.

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.