Circle Internet Group (NYSE:CRCL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Circle Internet Group (NYSE:CRCL) from a strong sell rating to a sell rating in a research note published on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts also recently commented on CRCL. Susquehanna reaffirmed a “neutral” rating on shares of Circle Internet Group in a research report on Tuesday, September 29th. Mizuho set a $43.00 target price on Circle Internet Group in a research note on Monday, October 26th. Needham & Company LLC increased their target price on Circle Internet Group from $130.00 to $134.00 and gave the stock a “buy” rating in a research report on Wednesday, October 21st. William Blair reissued an “outperform” rating on shares of Circle Internet Group in a research note on Wednesday, August 5th. Finally, Robert W. Baird lowered their price target on Circle Internet Group from $138.00 to $100.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $97.94.

Circle Internet Group Stock Performance

Shares of NYSE CRCL opened at $72.10 on Friday. Circle Internet Group has a 1 year low of $49.90 and a 1 year high of $140.00. The firm’s 50 day moving average price is $86.96 and its 200 day moving average price is $85.76. The firm has a market cap of $18.30 billion, a P/E ratio of 55.97 and a beta of 0.73.

Circle Internet Group (NYSE:CRCL) last released its earnings results on Wednesday, August 5th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.08). The firm had revenue of $701.32 million during the quarter. Circle Internet Group had a return on equity of 13.58% and a net margin of 15.53%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($4.48) earnings per share. As a group, equities analysts predict that Circle Internet Group will post 1.12 EPS for the current year.

Insider Activity at Circle Internet Group

In other news, Director Danita K. Ostling sold 20,000 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $61.65, for a total transaction of $1,233,000.00. Following the completion of the sale, the director directly owned 4,608 shares of the company’s stock, valued at $284,083.20. The trade was a 81.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Patrick Neville sold 50,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $92.09, for a total value of $4,604,500.00. Following the sale, the director owned 2,018 shares of the company’s stock, valued at approximately $185,837.62. The trade was a 96.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 447,634 shares of company stock valued at $37,398,184 over the last 90 days. 10.85% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CenterBook Partners LP purchased a new position in Circle Internet Group in the third quarter valued at about $808,000. Heritage Family Offices LLP acquired a new position in shares of Circle Internet Group during the third quarter worth about $45,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of Circle Internet Group in the third quarter worth about $483,000. Kestra Advisory Services LLC boosted its position in shares of Circle Internet Group by 27.2% in the third quarter. Kestra Advisory Services LLC now owns 30,387 shares of the company’s stock worth $2,497,000 after buying an additional 6,505 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in shares of Circle Internet Group by 27.3% in the third quarter. Commonwealth Equity Services LLC now owns 55,104 shares of the company’s stock worth $4,528,000 after buying an additional 11,808 shares during the period.

Circle Internet Group Company Profile

Circle Internet Group, Inc is a global financial technology company focused on digital currencies and blockchain-based payments. The company is best known for issuing USD Coin (USDC), a dollar-backed stablecoin designed to maintain a value of one U.S. dollar and support digital transactions, payments, trading and other financial applications. Circle also issues EURC, a euro-backed stablecoin.

Circle provides infrastructure and services for businesses, financial institutions and developers through products such as Circle Mint, which supports the creation, redemption and transfer of its stablecoins, as well as APIs and developer tools for integrating digital-asset payments and blockchain functionality.