Circle Internet Group (NYSE:CRCL) Lowered to “Strong Sell” Rating by Zacks Research

Circle Internet Group (NYSE:CRCL) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

Several other equities research analysts have also recently commented on CRCL. Monness Crespi & Hardt assumed coverage on shares of Circle Internet Group in a research report on Monday, November 10th. They issued a “buy” rating and a $150.00 price objective on the stock. Needham & Company LLC lowered their target price on Circle Internet Group from $250.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Sanford C. Bernstein set a $190.00 price target on Circle Internet Group in a report on Tuesday, January 6th. Compass Point raised Circle Internet Group from a “sell” rating to a “neutral” rating and set a $75.00 price objective for the company in a research report on Thursday, January 29th. Finally, HC Wainwright initiated coverage on Circle Internet Group in a report on Friday, December 19th. They set a “neutral” rating and a $85.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Circle Internet Group has an average rating of “Hold” and a consensus price target of $131.76.

Circle Internet Group Stock Performance

Shares of CRCL opened at $61.64 on Monday. The firm has a market cap of $14.51 billion and a P/E ratio of -26.92. Circle Internet Group has a twelve month low of $49.90 and a twelve month high of $298.99. The firm’s 50 day moving average price is $74.18 and its two-hundred day moving average price is $104.58.

Insider Buying and Selling

In other Circle Internet Group news, insider Nikhil Chandhok sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $77.08, for a total value of $7,708,000.00. Following the completion of the transaction, the insider directly owned 493,639 shares in the company, valued at $38,049,694.12. This trade represents a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Patrick Sean Neville sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $90.00, for a total value of $2,700,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 360,016 shares of company stock worth $28,288,252 over the last three months.

Hedge Funds Weigh In On Circle Internet Group

Several hedge funds and other institutional investors have recently made changes to their positions in CRCL. CWM LLC acquired a new position in Circle Internet Group during the second quarter worth $115,000. Atria Wealth Solutions Inc. bought a new position in shares of Circle Internet Group in the 2nd quarter valued at about $223,000. Allianz Asset Management GmbH bought a new position in shares of Circle Internet Group in the 2nd quarter valued at about $4,923,000. Stratos Wealth Partners LTD. acquired a new position in shares of Circle Internet Group during the 2nd quarter worth about $247,000. Finally, Gables Capital Management Inc. bought a new stake in shares of Circle Internet Group in the 2nd quarter valued at about $381,000.

Circle Internet Group Company Profile

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.