Circle Internet Group (NYSE:CRCL) Trading 2.2% Higher – Still a Buy?

Circle Internet Group, Inc. (NYSE:CRCL) shot up 2.2% during mid-day trading on Thursday . The stock traded as high as $84.47 and last traded at $80.93. 10,185,208 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 18,323,574 shares. The stock had previously closed at $79.20.

Analyst Ratings Changes

A number of research analysts recently issued reports on CRCL shares. Mizuho reduced their price target on Circle Internet Group from $84.00 to $70.00 and set an “underperform” rating on the stock in a report on Friday, November 14th. Monness Crespi & Hardt began coverage on Circle Internet Group in a research note on Monday, November 10th. They set a “buy” rating and a $150.00 target price on the stock. William Blair restated an “outperform” rating on shares of Circle Internet Group in a report on Wednesday, November 12th. Rothschild & Co Redburn initiated coverage on shares of Circle Internet Group in a research report on Friday, October 3rd. They set a “neutral” rating and a $136.00 price target on the stock. Finally, Baird R W upgraded shares of Circle Internet Group from a “hold” rating to a “strong-buy” rating in a report on Friday, November 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, Circle Internet Group presently has an average rating of “Hold” and a consensus target price of $144.69.

Circle Internet Group Stock Performance

The stock’s 50-day moving average price is $101.52.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings data on Wednesday, November 12th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.44. The business had revenue of $739.76 million during the quarter. The business’s revenue was up 65.9% on a year-over-year basis.

Insiders Place Their Bets

In other news, President Heath Tarbert sold 1,300 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $90.10, for a total value of $117,130.00. Following the sale, the president directly owned 582,350 shares of the company’s stock, valued at approximately $52,469,735. This represents a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeremy Allaire sold 7,055 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $90.05, for a total value of $635,302.75. Following the transaction, the chief executive officer owned 77,572 shares of the company’s stock, valued at $6,985,358.60. The trade was a 8.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 696,790 shares of company stock valued at $56,284,056.

Hedge Funds Weigh In On Circle Internet Group

A number of hedge funds have recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position 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 acquiring an additional 190 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in Circle Internet Group during the 3rd quarter valued at about $27,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Circle Internet Group during the 2nd quarter valued at about $27,000. Highline Wealth Partners LLC bought a new stake in shares of Circle Internet Group in the third quarter worth approximately $32,000. Finally, Montag A & Associates Inc. bought a new stake in shares of Circle Internet Group in the third quarter worth approximately $33,000.

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.