Circle Internet Group (NYSE:CRCL) Upgraded by Freedom Capital to "Hold" Rating

Key Points

• Freedom Capital upgraded Circle Internet Group (NYSE:CRCL) to a Hold, and MarketBeat shows a consensus Hold rating with an average analyst target of $127.24.
• Circle beat expectations for the quarter ended Feb. 25, reporting $0.43 EPS vs. $0.25 expected and revenue of $770.23 million, up 76.9% year‑over‑year.
• Shares opened at $96.19 (the article notes a 9.6% decline), valuing the company at $23.74 billion, while insiders have sold 545,874 shares (~$52.99M) in the past 90 days, including President Heath Tarbert’s 15,000‑share sale.

Circle Internet Group (NYSE:CRCL - Get Free Report) was upgraded by Freedom Capital to a "hold" rating in a research note issued on Tuesday,Zacks.com reports.

Other analysts have also recently issued reports about the company. Clear Str raised Circle Internet Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 16th. Canaccord Genuity Group reissued a "buy" rating and issued a $160.00 target price on shares of Circle Internet Group in a research report on Wednesday, March 25th. Robert W. Baird upped their target price on Circle Internet Group from $110.00 to $138.00 and gave the company an "outperform" rating in a research report on Tuesday, March 17th. The Goldman Sachs Group upped their target price on Circle Internet Group from $79.00 to $88.00 and gave the company a "neutral" rating in a research report on Monday, January 5th. Finally, Needham & Company LLC decreased their target price on Circle Internet Group from $190.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, Circle Internet Group presently has a consensus rating of "Hold" and an average target price of $127.24.

Circle Internet Group Stock Down 9.6%

Shares of NYSE CRCL opened at $96.19 on Tuesday. The stock has a market cap of $23.74 billion and a PE ratio of -51.72. Circle Internet Group has a 52-week low of $49.90 and a 52-week high of $298.99. The business has a 50-day moving average price of $94.86 and a 200 day moving average price of $92.82.

Circle Internet Group (NYSE:CRCL - Get Free Report) last announced its earnings results on Wednesday, February 25th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.18. The firm had revenue of $770.23 million during the quarter. The firm's revenue was up 76.9% compared to the same quarter last year. Sell-side analysts anticipate that Circle Internet Group will post 0.84 earnings per share for the current year.

Insider Activity at Circle Internet Group

In other Circle Internet Group news, President Heath Tarbert sold 15,000 shares of the stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $95.04, for a total transaction of $1,425,600.00. Following the completion of the sale, the president directly owned 561,168 shares of the company's stock, valued at approximately $53,333,406.72. This trade represents a 2.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director M Michele Burns sold 1,666 shares of the stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $92.38, for a total value of $153,905.08. Following the sale, the director directly owned 341,872 shares of the company's stock, valued at $31,582,135.36. The trade was a 0.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 545,874 shares of company stock worth $52,991,625 in the last ninety days. Company insiders own 10.85% of the company's stock.

Institutional Trading of Circle Internet Group

A number of hedge funds have recently added to or reduced their stakes in CRCL. Bartlett & CO. Wealth Management LLC acquired a new stake in Circle Internet Group during the 4th quarter worth approximately $25,000. Larson Financial Group LLC lifted its position in Circle Internet Group by 3,800.0% during the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company's stock worth $26,000 after acquiring an additional 190 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new stake in Circle Internet Group during the 3rd quarter worth approximately $27,000. EverSource Wealth Advisors LLC acquired a new stake in Circle Internet Group during the 2nd quarter worth approximately $27,000. Finally, Bellevue Asset Management LLC purchased a new position in shares of Circle Internet Group during the 4th 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 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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