Circle Internet Group (NYSE:CRCL) Sets New 12-Month High – Should You Buy?

Circle Internet Group, Inc. (NYSE:CRCL)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $263.83 and last traded at $260.73, with a volume of 22321798 shares. The stock had previously closed at $240.28.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CRCL shares. Wall Street Zen upgraded shares of Circle Internet Group to a “hold” rating in a research report on Saturday, June 14th. Seaport Res Ptn raised shares of Circle Internet Group to a “strong-buy” rating in a research note on Friday.

Circle Internet Group Stock Up 19.7%

The company has a market cap of $64.02 billion and a price-to-earnings ratio of -22,735.89.

Insider Activity at Circle Internet Group

In other news, CEO Jeremy Allaire sold 1,582,160 shares of the business’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $29.30, for a total value of $46,357,288.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Catalyst Group Vi L.P General sold 3,550,724 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $29.30, for a total value of $104,036,213.20. Following the sale, the insider now owns 20,120,769 shares in the company, valued at approximately $589,538,531.70. The trade was a 15.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,682,884 shares of company stock valued at $195,808,501.

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.