Circle Internet Group (NYSE:CRCL) Trading 8.2% Higher - Here's What Happened

Key Points

• Circle Internet Group shares jumped 8.2% intraday to a high of $112.66 (last $110.24) on Monday, with 8.07 million shares traded—about 43% below its average session volume.
• The company beat expectations with Q4 EPS of $0.43 versus a $0.25 consensus and reported revenue of $770.23 million, up 76.9% year-over-year.
• Analyst sentiment is mixed: the consensus rating is "Hold" with a $123.47 target, while recent price-target changes and substantial insider selling (496,816 shares worth roughly $45.8M over 90 days) add uncertainty to the outlook.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) traded up 8.2% during mid-day trading on Monday . The stock traded as high as $112.66 and last traded at $110.24. 8,066,554 shares traded hands during trading, a decline of 43% from the average session volume of 14,220,836 shares. The stock had previously closed at $101.91.

Analysts Set New Price Targets

CRCL has been the topic of several research analyst reports. Mizuho boosted their price target on shares of Circle Internet Group from $90.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, March 3rd. The Goldman Sachs Group raised their price target on shares of Circle Internet Group from $79.00 to $88.00 and gave the company a "neutral" rating in a report on Monday, January 5th. Robert W. Baird raised Circle Internet Group from a "hold" rating to a "strong-buy" rating in a report on Friday, November 14th. HC Wainwright initiated coverage on shares of Circle Internet Group in a research note on Friday, December 19th. They issued a "neutral" rating and a $85.00 price objective for the company. Finally, Needham & Company LLC dropped their price target on Circle Internet Group from $190.00 to $130.00 and set a "buy" rating for the company in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $123.47.

Circle Internet Group Stock Up 7.6%

The firm has a market capitalization of $25.83 billion and a price-to-earnings ratio of -58.96. The business has a 50-day moving average price of $74.04 and a 200-day moving average price of $98.25.

Circle Internet Group (NYSE:CRCL - Get Free Report) last issued its earnings results on Wednesday, February 25th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.18. The business had revenue of $770.23 million for the quarter. Circle Internet Group's revenue was up 76.9% on a year-over-year basis.

Insiders Place Their Bets

In other Circle Internet Group news, Director M Michele Burns sold 25,000 shares of the business's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $105.00, for a total value of $2,625,000.00. Following the sale, the director owned 355,230 shares of the company's stock, valued at $37,299,150. The trade was a 6.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rajeev V. Date sold 23,254 shares of the firm's stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $89.62, for a total transaction of $2,084,023.48. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 496,816 shares of company stock worth $45,837,290.

Institutional Investors Weigh In On Circle Internet Group

Several large investors have recently modified their holdings of the company. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of Circle Internet Group in the 4th quarter valued at approximately $25,000. Larson Financial Group LLC lifted its stake in shares of Circle Internet Group by 3,800.0% during the third quarter. Larson Financial Group LLC now owns 195 shares of the company's stock valued at $26,000 after buying an additional 190 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Circle Internet Group in the third quarter valued at $27,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Circle Internet Group during the 2nd quarter worth $27,000. Finally, Bellevue Asset Management LLC purchased a new stake in Circle Internet Group during the fourth quarter worth approximately $29,000.

About Circle Internet Group

Circle Internet Group NYSE: CRCL is a financial technology company that builds infrastructure to enable businesses and developers to use and move money on public blockchains. Co-founded by Jeremy Allaire and Sean Neville, the company is best known as a principal issuer and steward of USD Coin (USDC), a dollar-pegged stablecoin developed through the CENTRE Consortium, which Circle co-founded with Coinbase. Jeremy Allaire serves as CEO and has been a visible leader in the company's strategy and public engagement around digital currency and payments innovation.

Circle's core products and services center on digital currency issuance and programmable payments.

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