Circle Internet Group, Inc. (NYSE:CRCL) Receives $139.29 Consensus Target Price from Analysts

Shares of Circle Internet Group, Inc. (NYSE:CRCL) have earned an average rating of “Hold” from the twenty-four ratings firms that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $139.2941.

Several analysts have recently commented on CRCL shares. Mizuho decreased their target price 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. William Blair reiterated an “outperform” rating on shares of Circle Internet Group in a research report on Wednesday, November 12th. Needham & Company LLC decreased their price objective on shares of Circle Internet Group from $250.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. JPMorgan Chase & Co. raised shares of Circle Internet Group from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $94.00 to $100.00 in a research note on Thursday, November 13th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Circle Internet Group from $147.00 to $90.00 and set a “hold” rating on the stock in a research report on Thursday, November 13th.

Insider Buying and Selling

In related news, insider Nikhil Chandhok sold 10,000 shares of Circle Internet Group stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $90.00, for a total value of $900,000.00. Following the completion of the sale, the insider directly owned 474,974 shares in the company, valued at $42,747,660. This trade represents a 2.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeremy Allaire sold 7,055 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $90.07, for a total value of $635,443.85. Following the sale, the chief executive officer directly owned 70,517 shares of the company’s stock, valued at $6,351,466.19. This represents a 9.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 722,089 shares of company stock worth $58,540,227.

Institutional Investors Weigh In On Circle Internet Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. General Catalyst Group Management LLC bought a new stake in shares of Circle Internet Group in the 2nd quarter valued at about $3,647,694,000. Marshall Wace LLP acquired a new position in Circle Internet Group during the second quarter valued at approximately $1,547,214,000. ARK Investment Management LLC acquired a new position in Circle Internet Group during the second quarter valued at approximately $530,165,000. Vanguard Group Inc. increased its stake in Circle Internet Group by 61.6% in the third quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock valued at $739,624,000 after purchasing an additional 2,126,072 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in Circle Internet Group by 282.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,299,374 shares of the company’s stock valued at $172,271,000 after purchasing an additional 959,309 shares in the last quarter.

Circle Internet Group Trading Up 2.9%

NYSE CRCL opened at $78.82 on Friday. Circle Internet Group has a 1-year low of $64.00 and a 1-year high of $298.99. The company has a 50 day moving average of $81.42 and a 200-day moving average of $125.56. The firm has a market cap of $18.56 billion and a price-to-earnings ratio of -34.42.

Circle Internet Group (NYSE:CRCL) last announced its earnings results on Wednesday, November 12th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.20 by $0.44. The business had revenue of $739.76 million during the quarter. The business’s quarterly revenue was up 65.9% compared to the same quarter last 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 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.