Circle Internet Group (NYSE:CRCL) Stock Price Up 1.2% - Time to Buy?

Key Points

• Circle Internet Group's stock (NYSE:CRCL) increased by 1.2%, trading at $155.79, with an average trading volume drop of 90% from its usual volume.
• Recent analyst reports resulted in mixed ratings, with a consensus price target of $175.27, reflecting four sell ratings, five hold ratings, and six buy ratings.
• Insider trading activity reported significant sales, with a Director and CFO selling a combined total of over 1.2 million shares valued at approximately $35 million recently.

Shares of Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) were up 1.2% during mid-day trading on Wednesday . The stock traded as high as $155.89 and last traded at $155.79. Approximately 3,018,378 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 29,288,168 shares. The stock had previously closed at $153.93.

Wall Street Analysts Forecast Growth

CRCL has been the subject of a number of recent analyst reports. Citigroup started coverage on Circle Internet Group in a report on Monday, June 30th. They set a "buy" rating and a $243.00 price target for the company. JPMorgan Chase & Co. began coverage on shares of Circle Internet Group in a report on Monday, June 30th. They issued an "underweight" rating and a $80.00 price target for the company. Baird R W upgraded Circle Internet Group to a "hold" rating in a research note on Friday, July 11th. Deutsche Bank Aktiengesellschaft began coverage on Circle Internet Group in a research report on Monday, June 30th. They set a "hold" rating and a $155.00 target price on the stock. Finally, Wall Street Zen downgraded shares of Circle Internet Group from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Four research analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Circle Internet Group currently has a consensus rating of "Hold" and a consensus price target of $175.27.

Circle Internet Group Stock Down 5.9%

The business has a fifty day moving average price of $188.16. The stock has a market cap of $33.88 billion and a price-to-earnings ratio of -12,030.19.

Insider Transactions at Circle Internet Group

In other news, major shareholder Catalyst Group Vi L.P General sold 3,550,724 shares of Circle Internet Group stock in a transaction on Friday, June 6th. The stock was sold at an average price of $29.30, for a total transaction of $104,036,213.20. Following the sale, the insider directly owned 20,120,769 shares in the company, valued at $589,538,531.70. The trade was a 15.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Patrick Sean Neville sold 1,000,000 shares of the firm'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 $29,300,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,682,884 shares of company stock worth $195,808,501.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. North Star Investment Management Corp. bought a new stake in shares of Circle Internet Group in the 2nd quarter worth approximately $34,000. Hennessy Advisors Inc. purchased a new position in Circle Internet Group in the 2nd quarter worth $36,000. Chilton Capital Management LLC bought a new stake in Circle Internet Group in the second quarter worth $40,000. Emerald Mutual Fund Advisers Trust bought a new position in shares of Circle Internet Group during the second quarter valued at about $52,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new position in shares of Circle Internet Group in the second quarter worth about $63,000.

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.