Circle Internet Group (NYSE:CRCL) Trading Up 1.5% - Still a Buy?

Key Points

• Shares of Circle Internet Group (NYSE:CRCL) rose 1.5% to $116.29, with a notable decline in trading volume at 3.9 million shares, 83% below the average.
• Analysts have mixed opinions on CRCL, with ratings ranging from a Strong Buy to Sell, and an average price target of $170.91.
• Insider sales have occurred, with significant trades by the Director and CFO, totaling over $105 million in shares sold during the last quarter.

Shares of Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) traded up 1.5% during mid-day trading on Monday . The company traded as high as $117.49 and last traded at $116.29. 3,975,691 shares were traded during trading, a decline of 83% from the average session volume of 23,178,105 shares. The stock had previously closed at $114.56.

Analysts Set New Price Targets

CRCL has been the subject of several research reports. Baird R W upgraded Circle Internet Group to a "hold" rating in a report on Friday, July 11th. Robert W. Baird cut their target price on Circle Internet Group from $210.00 to $185.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 13th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $247.00 price target on shares of Circle Internet Group in a report on Monday, August 18th. Compass Point cut shares of Circle Internet Group from a "neutral" rating to a "sell" rating and decreased their price objective for the stock from $205.00 to $130.00 in a report on Monday, July 21st. Finally, Needham & Company LLC reissued a "buy" rating and set a $250.00 price target on shares of Circle Internet Group in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $170.91.

Circle Internet Group Price Performance

The business has a 50-day moving average of $168.43. The company has a market cap of $25.94 billion and a price-to-earnings ratio of -8,933.93.

Insider Buying and Selling at Circle Internet Group

In related news, Director Rajeev V. Date sold 33,400 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $127.08, for a total value of $4,244,472.00. Following the completion of the sale, the director directly owned 248,663 shares in the company, valued at $31,600,094.04. This trade represents a 11.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jeremy Fox-Geen sold 33,608 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $121.45, for a total value of $4,081,691.60. Following the sale, the chief financial officer owned 297,823 shares in the company, valued at $36,170,603.35. The trade was a 10.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 831,014 shares of company stock valued at $105,416,046 over the last quarter.

Hedge Funds Weigh In On Circle Internet Group

Institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC purchased a new position in Circle Internet Group in the second quarter valued at about $27,000. North Star Investment Management Corp. purchased a new stake in shares of Circle Internet Group during the second quarter worth $34,000. Hennessy Advisors Inc. bought a new position in Circle Internet Group during the second quarter valued at about $36,000. Allworth Financial LP acquired a new stake in shares of Circle Internet Group in the second quarter valued at about $37,000. Finally, Chilton Capital Management LLC acquired a new stake in Circle Internet Group during the second quarter valued at approximately $40,000.

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.

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