Brokerages Set Circle Internet Group, Inc. (NYSE:CRCL) Price Target at $134.18

Circle Internet Group, Inc. (NYSE:CRCL) has received a consensus recommendation of “Hold” from the twenty-five ratings firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $134.1765.

Several brokerages recently commented on CRCL. Compass Point reissued a “sell” rating and set a $77.00 price target (down from $79.00) on shares of Circle Internet Group in a research report on Thursday, April 9th. Robert W. Baird boosted their price target on Circle Internet Group from $110.00 to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 17th. Weiss Ratings reiterated a “sell (d)” rating on shares of Circle Internet Group in a research note on Monday, April 20th. Canaccord Genuity Group reissued a “buy” rating and issued a $160.00 target price on shares of Circle Internet Group in a research note on Wednesday, March 25th. Finally, Wells Fargo & Company boosted their target price on shares of Circle Internet Group from $111.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th.

Insider Buying and Selling

In related news, insider Hossein Razzaghi sold 34,623 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider directly owned 666,404 shares in the company, valued at approximately $52,545,955.40. This trade represents a 4.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Heath Tarbert sold 39,240 shares of Circle Internet Group stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $81.47, for a total value of $3,196,882.80. Following the transaction, the president owned 502,558 shares of the company’s stock, valued at $40,943,400.26. The trade was a 7.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 1,405,984 shares of company stock worth $118,860,837. Corporate insiders own 10.85% of the company’s stock.

Institutional Trading of Circle Internet Group

A number of hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC boosted its position in Circle Internet Group by 27.4% during the first quarter. NewEdge Advisors LLC now owns 6,594 shares of the company’s stock worth $629,000 after purchasing an additional 1,420 shares during the period. Caerus Investment Advisors LLC acquired a new stake in Circle Internet Group in the 1st quarter worth about $265,000. Lavelle Capital LP bought a new stake in Circle Internet Group in the 1st quarter valued at about $1,908,000. CTC Alternative Strategies Ltd. acquired a new position in shares of Circle Internet Group during the 1st quarter worth approximately $382,000. Finally, Essential Partners LLC grew its position in shares of Circle Internet Group by 1,728.6% during the 1st quarter. Essential Partners LLC now owns 768 shares of the company’s stock worth $73,000 after purchasing an additional 726 shares in the last quarter.

Circle Internet Group Trading Up 0.3%

Circle Internet Group stock opened at $80.46 on Monday. Circle Internet Group has a 1-year low of $49.90 and a 1-year high of $298.99. The company has a fifty day simple moving average of $100.79 and a 200 day simple moving average of $90.19. The company has a market cap of $20.00 billion and a P/E ratio of -25.14.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.06). The business had revenue of $694.13 million for the quarter. Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.Circle Internet Group’s quarterly revenue was up 20.0% compared to the same quarter last year. On average, equities research analysts forecast that Circle Internet Group will post 1.02 EPS for the current year.

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 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.