Circle Internet Group (NYSE:CRCL) Stock Rating Upgraded by Wall Street Zen

Circle Internet Group (NYSE:CRCL) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued on Saturday, Wall Street Zen reports.

Several other equities research analysts also recently weighed in on the company. Susquehanna reaffirmed a “neutral” rating on shares of Circle Internet Group in a research report on Tuesday, September 29th. TD Cowen boosted their price target on Circle Internet Group from $87.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, September 17th. Compass Point set a $62.00 price target on Circle Internet Group in a report on Wednesday, July 15th. Weiss Ratings raised shares of Circle Internet Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th. Finally, Morgan Stanley lowered their price objective on shares of Circle Internet Group from $38.00 to $37.00 and set an “underweight” rating for the company in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $97.82.

Circle Internet Group Trading Down 0.2%

NYSE:CRCL opened at $81.08 on Friday. The firm’s fifty day simple moving average is $82.24 and its 200 day simple moving average is $88.71. Circle Internet Group has a twelve month low of $49.90 and a twelve month high of $159.47. The firm has a market capitalization of $20.58 billion, a price-to-earnings ratio of 55.53 and a beta of 0.73.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.08). Circle Internet Group had a net margin of 15.53% and a return on equity of 13.58%. The company had revenue of $701.32 million during the quarter. During the same period in the prior year, the company posted ($4.48) EPS. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, analysts predict that Circle Internet Group will post 1.08 earnings per share for the current year.

Insider Buying and Selling at Circle Internet Group

In related news, insider Nikhil Chandhok sold 26,666 shares of the business’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $100.40, for a total value of $2,677,266.40. Following the transaction, the insider owned 722,480 shares in the company, valued at approximately $72,536,992. The trade was a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jeremy Allaire sold 56,200 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $98.04, for a total value of $5,509,848.00. Following the completion of the transaction, the chief executive officer directly owned 333,760 shares of the company’s stock, valued at $32,721,830.40. This represents a 14.41% 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. In the last 90 days, insiders sold 416,129 shares of company stock valued at $32,961,175. Company insiders own 10.85% of the company’s stock.

Hedge Funds Weigh In On Circle Internet Group

Institutional investors have recently made changes to their positions in the business. Harbour Investments Inc. grew its position in shares of Circle Internet Group by 170.0% during the fourth quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock worth $30,000 after buying an additional 238 shares in the last quarter. WPG Advisers LLC acquired a new stake in Circle Internet Group in the first quarter valued at $31,000. First Horizon Corp acquired a new stake in Circle Internet Group in the first quarter valued at $35,000. Abound Financial LLC bought a new position in Circle Internet Group during the 1st quarter valued at $38,000. Finally, Global Assets Advisory LLC bought a new position in Circle Internet Group during the 1st quarter valued at $43,000.

Circle Internet Group Company Profile

Circle Internet Group, Inc is a global financial technology company that develops infrastructure for digital currencies and blockchain-based payments. Its primary product is USD Coin (USDC), a dollar-denominated stablecoin designed to maintain a stable value and support digital transactions, payments and transfers across blockchain networks. Circle also issues EURC, a euro-denominated stablecoin.

The company provides institutional and developer-focused services through Circle Mint, which enables eligible businesses to create, redeem and manage USDC and access related payment and treasury tools.