Circle Internet Group (NYSE:CRCL) Stock Price Up 4% - Should You Buy?

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) traded up 4% during trading on Monday . The company traded as high as $194.99 and last traded at $194.79. 5,268,249 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 38,205,664 shares. The stock had previously closed at $187.33.

Wall Street Analyst Weigh In

A number of research analysts recently commented 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. JPMorgan Chase & Co. began coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They set an "underweight" rating and a $80.00 price objective on the stock. Canaccord Genuity Group began coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They set a "buy" rating and a $247.00 price objective on the stock. Robert W. Baird began coverage on shares of Circle Internet Group in a research report on Friday, July 11th. They set a "neutral" rating and a $210.00 price objective on the stock. Finally, The Goldman Sachs Group began coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They set a "neutral" rating and a $83.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $182.09.

Circle Internet Group Stock Performance

The company has a market cap of $52.40 billion and a P/E ratio of -18,608.35.

Insider Transactions at Circle Internet Group

In related news, Director Patrick Sean Neville sold 1,000,000 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $29.30, for a total value of $29,300,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jeremy Fox-Geen sold 200,000 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $29.30, for a total transaction of $5,860,000.00. Following the completion of the sale, the chief financial officer owned 320,371 shares of the company's stock, valued at $9,386,870.30. This trade represents a 38.43% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,682,884 shares of company stock valued at $195,808,501.

Hedge Funds Weigh In On Circle Internet Group

Several hedge funds have recently added to or reduced their stakes in CRCL. Exchange Traded Concepts LLC purchased a new position in Circle Internet Group during the 2nd quarter valued at about $18,397,000. Baader Bank Aktiengesellschaft purchased a new position in Circle Internet Group during the 2nd quarter valued at about $1,083,000. Wealth Enhancement Advisory Services LLC purchased a new position in Circle Internet Group during the 2nd quarter valued at about $673,000. KG&L Capital Management LLC purchased a new position in Circle Internet Group during the 2nd quarter valued at about $528,000. Finally, Covenant Asset Management LLC purchased a new position in Circle Internet Group during the 2nd quarter valued at about $363,000.

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.