Weiss Ratings Reiterates Sell (D) Rating for Circle Internet Group (NYSE:CRCL)

Key Points

• Weiss Ratings has reaffirmed a "sell (d)" rating for Circle Internet Group (NYSE:CRCL), indicating caution towards the stock's performance.
• Circle Internet Group's stock has an average price target of $165.54, with varying ratings from analysts, including one "Strong Buy," four "Buy," ten "Hold," and four "Sell" ratings.
• Insider activity has seen significant sell-offs, with Director Rajeev V. Date and CEO Jeremy Allaire both selling large quantities of shares recently, totaling over $49 million combined.

Circle Internet Group (NYSE:CRCL - Get Free Report)'s stock had its "sell (d)" rating reaffirmed by investment analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other analysts have also recently issued research reports about the stock. Canaccord Genuity Group reiterated a "buy" rating and issued a $247.00 price target on shares of Circle Internet Group in a research note on Thursday, September 11th. Rothschild Redb upgraded shares of Circle Internet Group to a "hold" rating in a research note on Friday, October 3rd. Barclays started coverage on shares of Circle Internet Group in a research note on Monday, June 30th. They issued an "overweight" rating and a $215.00 price target on the stock. Robert W. Baird decreased their price target on shares of Circle Internet Group from $210.00 to $185.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 13th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $250.00 price target on shares of Circle Internet Group in a research note on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, Circle Internet Group presently has an average rating of "Hold" and an average price target of $165.54.

Circle Internet Group Stock Performance

Shares of CRCL traded up $1.49 during trading hours on Wednesday, reaching $150.21. 11,638,023 shares of the stock traded hands, compared to its average volume of 12,761,636. Circle Internet Group has a 52-week low of $64.00 and a 52-week high of $298.99. The company's 50-day simple moving average is $138.31. The company has a market capitalization of $34.46 billion and a P/E ratio of -11,870.55.

Insider Activity at Circle Internet Group

In related news, Director Rajeev V. Date sold 33,400 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $127.08, for a total transaction of $4,244,472.00. Following the transaction, the director directly owned 248,663 shares in the company, valued at approximately $31,600,094.04. This represents a 11.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeremy Allaire sold 357,812 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $127.08, for a total transaction of $45,470,748.96. The disclosure for this sale can be found here. Insiders sold a total of 831,014 shares of company stock worth $105,416,046 in the last three months.

Hedge Funds Weigh In On Circle Internet Group

A number of institutional investors have recently modified their holdings of CRCL. EverSource Wealth Advisors LLC purchased a new position in shares of Circle Internet Group during the second quarter worth approximately $27,000. North Star Investment Management Corp. purchased a new position in shares of Circle Internet Group during the second quarter worth approximately $34,000. Hennessy Advisors Inc. purchased a new position in shares of Circle Internet Group during the second quarter worth approximately $36,000. Allworth Financial LP purchased a new position in shares of Circle Internet Group during the second quarter worth approximately $37,000. Finally, Chilton Capital Management LLC purchased a new position in shares of Circle Internet Group during the second quarter worth approximately $40,000.

Circle Internet Group Company Profile

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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