Traders Purchase High Volume of Circle Internet Group Call Options (NYSE:CRCL)

Circle Internet Group, Inc. (NYSE:CRCL) saw unusually large options trading on Friday. Traders acquired 150,979 call options on the company. This is an increase of 27% compared to the typical volume of 118,946 call options.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company cut their price target on Circle Internet Group from $128.00 to $111.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. The Goldman Sachs Group raised their price target on Circle Internet Group from $79.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, January 5th. Zacks Research raised Circle Internet Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 17th. William Blair reaffirmed an “outperform” rating on shares of Circle Internet Group in a research note on Wednesday, February 25th. Finally, Wall Street Zen downgraded Circle Internet Group from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $126.41.

Insider Activity at Circle Internet Group

In other news, CAO Tamara L. Schulz sold 1,194 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $87.58, for a total transaction of $104,570.52. Following the completion of the sale, the chief accounting officer directly owned 93,053 shares of the company’s stock, valued at $8,149,581.74. This trade represents a 1.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Fox-Geen sold 4,238 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $90.00, for a total value of $381,420.00. Following the sale, the chief financial officer directly owned 363,726 shares of the company’s stock, valued at $32,735,340. This trade represents a 1.15% decrease in their ownership of the stock. 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 three months, insiders sold 545,874 shares of company stock worth $52,991,625. 10.85% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC acquired a new stake in shares of Circle Internet Group during the 2nd quarter worth approximately $27,000. Larson Financial Group LLC grew its holdings 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 worth $26,000 after purchasing an additional 190 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Circle Internet Group during the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Circle Internet Group during the 3rd quarter worth approximately $32,000. Finally, Montag A & Associates Inc. acquired a new stake in shares of Circle Internet Group during the 3rd quarter worth approximately $33,000.

Circle Internet Group Stock Performance

Shares of NYSE CRCL traded down $1.92 during mid-day trading on Friday, reaching $105.54. 14,451,220 shares of the company traded hands, compared to its average volume of 15,354,080. The stock has a market cap of $26.05 billion and a PE ratio of -56.74. The company’s fifty day moving average is $92.24 and its two-hundred day moving average is $94.20. Circle Internet Group has a fifty-two week low of $49.90 and a fifty-two week high of $298.99.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.18. The company had revenue of $770.23 million for the quarter. The company’s revenue for the quarter was up 76.9% on a year-over-year basis.

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 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.