Circle Internet Group (NYSE:CRCL) Research Coverage Started at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods started coverage on shares of Circle Internet Group (NYSE:CRCL) in a report published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a market perform rating and a $105.00 target price on the stock.

A number of other research firms have also commented on CRCL. Needham & Company LLC reduced their price target on shares of Circle Internet Group from $150.00 to $127.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Raymond James Financial initiated coverage on Circle Internet Group in a research note on Tuesday, July 21st. They set a “market perform” rating for the company. TD Cowen lifted their price objective on Circle Internet Group from $82.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. KeyCorp initiated coverage on Circle Internet Group in a research report on Tuesday, May 26th. They set a “sector weight” rating for the company. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $140.00 target price on shares of Circle Internet Group in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $99.67.

Circle Internet Group Trading Down 2.6%

CRCL stock opened at $90.61 on Tuesday. The firm has a 50 day moving average of $74.69 and a 200-day moving average of $89.92. The firm has a market capitalization of $23.00 billion, a P/E ratio of 62.06 and a beta of 0.59. Circle Internet Group has a 12 month low of $49.90 and a 12 month high of $159.47.

Circle Internet Group (NYSE:CRCL) last posted its earnings results on Wednesday, August 5th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.08). Circle Internet Group had a return on equity of 13.58% and a net margin of 15.53%.The firm had revenue of $701.32 million for the quarter. During the same quarter in the previous year, the business earned ($4.48) earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. Sell-side analysts predict that Circle Internet Group will post 1.05 EPS for the current year.

Insider Activity at Circle Internet Group

In other news, Director Patrick Neville sold 50,000 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $62.65, for a total value of $3,132,500.00. Following the transaction, the director owned 2,018 shares of the company’s stock, valued at $126,427.70. This represents a 96.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Fox-Geen sold 45,000 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $90.00, for a total transaction of $4,050,000.00. Following the sale, the chief financial officer owned 323,837 shares in the company, valued at approximately $29,145,330. This trade represents a 12.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,018,123 shares of company stock worth $75,708,773 over the last quarter. 10.85% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its stake in Circle Internet Group by 3,800.0% during the third quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock worth $26,000 after purchasing an additional 190 shares during the last quarter. EverSource Wealth Advisors LLC bought a new position in shares of Circle Internet Group during the 2nd quarter valued at about $27,000. Harbour Investments Inc. raised its holdings in shares of Circle Internet Group by 170.0% during the 4th quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock valued at $30,000 after buying an additional 238 shares in the last quarter. WPG Advisers LLC purchased a new position in shares of Circle Internet Group during the 1st quarter valued at about $31,000. Finally, First Horizon Corp purchased a new position in shares of Circle Internet Group during the 1st quarter valued at about $35,000.

Circle Internet Group Company Profile

Circle Internet Group, Inc is a global financial technology company focused on digital currency and blockchain infrastructure. The company is best known as the issuer of USD Coin (USDC), a dollar-denominated stablecoin designed to maintain a consistent value and facilitate digital payments, trading, and transfers on blockchain networks. Circle also issues EURC, a euro-denominated stablecoin.

Circle provides products and services for businesses, financial institutions, developers, and digital-asset platforms.