Circle Internet Group (NYSE:CRCL) Trading Up 1.9% - What's Next?

Key Points

• Circle Internet Group's share price rose by 1.9% to $127.03, with a notable decrease in trading volume at approximately 5.43 million shares compared to the average of 21.33 million shares.
• Analysts have issued mixed ratings for Circle, with Compass Point downgrading the stock to a "sell" and reducing the target price to $130, while Citigroup has initiated coverage with a "buy" rating and a price target of $243.
• Insider trading activity was significant, with Director Patrick Sean Neville selling over 260,000 shares, totaling approximately $33 million, indicating possible shifts in investor confidence.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report)'s share price was up 1.9% during mid-day trading on Friday . The company traded as high as $128.49 and last traded at $127.03. Approximately 5,431,786 shares were traded during trading, a decline of 75% from the average daily volume of 21,332,137 shares. The stock had previously closed at $124.66.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CRCL. Compass Point cut Circle Internet Group from a "neutral" rating to a "sell" rating and cut their target price for the stock from $205.00 to $130.00 in a report on Monday, July 21st. Baird R W raised Circle Internet Group to a "hold" rating in a research report on Friday, July 11th. Deutsche Bank Aktiengesellschaft decreased their target price on Circle Internet Group from $163.00 to $123.00 and set a "hold" rating for the company in a research report on Wednesday, August 20th. Citigroup initiated coverage on Circle Internet Group in a report on Monday, June 30th. They issued a "buy" rating and a $243.00 price objective for the company. Finally, Robert W. Baird decreased their price objective on Circle Internet Group from $210.00 to $185.00 and set a "neutral" rating for the company in a report on Wednesday, August 13th. 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 issued a Sell rating to the company. According to MarketBeat.com, Circle Internet Group has an average rating of "Hold" and an average price target of $170.91.

Circle Internet Group Price Performance

The company's 50 day moving average is $148.70. The firm has a market capitalization of $29.14 billion and a PE ratio of -10,038.72.

Insider Activity at Circle Internet Group

In other Circle Internet Group news, Director Patrick Sean Neville sold 260,374 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $127.08, for a total value of $33,088,327.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rajeev V. Date sold 33,400 shares of the company's stock in a transaction dated 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 owned 248,663 shares of the company's stock, valued at approximately $31,600,094.04. The trade was a 11.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 831,014 shares of company stock valued at $105,416,046 in the last 90 days.

Institutional Investors Weigh In On Circle Internet Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC purchased a new position in shares of Circle Internet Group in the 2nd quarter valued at $27,000. North Star Investment Management Corp. purchased a new stake in Circle Internet Group during the 2nd quarter valued at about $34,000. Hennessy Advisors Inc. acquired a new position in shares of Circle Internet Group in the 2nd quarter valued at about $36,000. Allworth Financial LP acquired a new position in shares of Circle Internet Group in the 2nd quarter valued at about $37,000. Finally, Chilton Capital Management LLC acquired a new position in shares of Circle Internet Group during the 2nd quarter worth 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.