Circle Internet Group (NYSE:CRCL) Shares Up 10.4% – Should You Buy?

Circle Internet Group, Inc. (NYSE:CRCL) shares traded up 10.4% during trading on Monday . The stock traded as high as $87.02 and last traded at $85.91. 5,700,295 shares were traded during mid-day trading, a decline of 63% from the average session volume of 15,242,751 shares. The stock had previously closed at $77.84.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CRCL shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $160.00 price objective on shares of Circle Internet Group in a report on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $101.00 target price on shares of Circle Internet Group in a research report on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Circle Internet Group in a research note on Monday, April 20th. Freedom Capital upgraded shares of Circle Internet Group to a “hold” rating in a report on Tuesday, April 21st. Finally, William Blair reiterated an “outperform” rating on shares of Circle Internet Group in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $134.18.

Circle Internet Group Stock Up 1.3%

The firm has a fifty day moving average of $101.56 and a 200-day moving average of $90.11. The stock has a market capitalization of $20.08 billion and a price-to-earnings ratio of -25.25.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.06). The firm had revenue of $694.13 million during the quarter. Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. Circle Internet Group’s revenue was up 20.0% on a year-over-year basis. As a group, research analysts forecast that Circle Internet Group, Inc. will post 1.02 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Hossein Razzaghi sold 34,623 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $78.85, for a total value of $2,730,023.55. Following the sale, the insider directly owned 666,404 shares in the company, valued at $52,545,955.40. This represents a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nikhil Chandhok sold 26,666 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $83.75, for a total transaction of $2,233,277.50. Following the transaction, the insider directly owned 521,809 shares of the company’s stock, valued at approximately $43,701,503.75. This trade represents a 4.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 1,415,984 shares of company stock valued at $120,091,637. 10.85% of the stock is owned by company insiders.

Hedge Funds Weigh In On Circle Internet Group

Hedge funds have recently bought and sold shares of the stock. Bartlett & CO. Wealth Management LLC acquired a new position in Circle Internet Group in the 4th quarter valued at about $25,000. Larson Financial Group LLC raised its stake in Circle Internet Group by 3,800.0% in the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after purchasing an additional 190 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new position in Circle Internet Group in the 2nd quarter valued at about $27,000. Bellevue Asset Management LLC acquired a new position in Circle Internet Group in the 4th quarter valued at about $29,000. Finally, Harbour Investments Inc. raised its stake in Circle Internet Group by 170.0% in the 4th quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock valued at $30,000 after purchasing an additional 238 shares during the last quarter.

Circle Internet Group Company Profile

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.