Circle Internet Group (NYSE:CRCL) Stock Rating Upgraded by HC Wainwright

Circle Internet Group (NYSE:CRCL) was upgraded by HC Wainwright to a “hold” rating in a report released on Friday,Zacks.com reports.

Several other equities research analysts have also commented on CRCL. Needham & Company LLC cut their price objective on Circle Internet Group from $250.00 to $190.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Baird R W upgraded Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 14th. Weiss Ratings restated a “sell (d)” rating on shares of Circle Internet Group in a report on Wednesday, October 8th. Monness Crespi & Hardt began coverage on shares of 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. Finally, Rothschild Redb raised shares of Circle Internet Group to a “hold” rating in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $141.18.

Circle Internet Group Stock Up 5.9%

NYSE:CRCL opened at $85.79 on Friday. Circle Internet Group has a fifty-two week low of $64.00 and a fifty-two week high of $298.99. The business’s fifty day moving average is $99.16.

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

Insider Buying and Selling

In other news, Director Patrick Sean Neville sold 33,569 shares of Circle Internet Group stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $85.05, for a total transaction of $2,855,043.45. Following the transaction, the director owned 33,568 shares in the company, valued at $2,854,958.40. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeremy Fox-Geen sold 23,830 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $90.00, for a total transaction of $2,144,700.00. Following the transaction, the chief financial officer directly owned 282,173 shares in the company, valued at approximately $25,395,570. The trade was a 7.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 696,790 shares of company stock worth $56,284,056.

Hedge Funds Weigh In On Circle Internet Group

A number of institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC acquired a new position in Circle Internet Group in the 2nd quarter valued at about $27,000. North Star Investment Management Corp. acquired a new stake in shares of Circle Internet Group during the 2nd quarter worth approximately $34,000. Larson Financial Group LLC raised its position in shares of Circle Internet Group by 3,800.0% during the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after buying an additional 190 shares during the period. Hennessy Advisors Inc. acquired a new position in Circle Internet Group in the second quarter valued at approximately $36,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in Circle Internet Group in the third quarter valued at approximately $27,000.

About Circle Internet Group

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 USD Coin (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.