Circle Internet Group (NYSE:CRCL) Upgraded to “Hold” at Freedom Capital

Freedom Capital upgraded shares of Circle Internet Group (NYSE:CRCL) to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.

CRCL has been the topic of several other research reports. Clear Str upgraded Circle Internet Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 16th. The Goldman Sachs Group upped their price target on Circle Internet Group from $79.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, January 5th. Canaccord Genuity Group restated a “buy” rating and set a $160.00 price target on shares of Circle Internet Group in a report on Wednesday, March 25th. Wells Fargo & Company cut their price target on Circle Internet Group from $128.00 to $111.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Finally, Compass Point restated a “sell” rating and set a $77.00 price target (down from $79.00) on shares of Circle Internet Group in a report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $127.24.

Circle Internet Group Trading Down 9.6%

CRCL opened at $96.19 on Tuesday. The stock’s 50-day moving average price is $94.86 and its 200 day moving average price is $92.82. Circle Internet Group has a 12-month low of $49.90 and a 12-month high of $298.99. The firm has a market cap of $23.74 billion and a price-to-earnings ratio of -51.72.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.18. The company had revenue of $770.23 million for the quarter. The company’s quarterly revenue was up 76.9% on a year-over-year basis. On average, research analysts forecast that Circle Internet Group will post 0.84 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Rajeev V. Date sold 23,254 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $89.62, for a total value of $2,084,023.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Heath Tarbert sold 122,007 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $94.23, for a total value of $11,496,719.61. Following the completion of the transaction, the president owned 599,156 shares in the company, valued at approximately $56,458,469.88. The trade was a 16.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 545,874 shares of company stock worth $52,991,625. 10.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Cambient Family Office LLC increased its holdings in shares of Circle Internet Group by 291.9% in the 1st quarter. Cambient Family Office LLC now owns 18,585 shares of the company’s stock valued at $1,773,000 after acquiring an additional 13,843 shares during the last quarter. Signature Wealth Management Partners LLC purchased a new position in shares of Circle Internet Group in the 1st quarter valued at about $257,000. Kestra Private Wealth Services LLC purchased a new position in shares of Circle Internet Group in the 1st quarter valued at about $264,000. Cache Advisors LLC purchased a new position in shares of Circle Internet Group in the 1st quarter valued at about $224,000. Finally, Diversified Trust Co increased its holdings in shares of Circle Internet Group by 210.6% in the 1st quarter. Diversified Trust Co now owns 11,907 shares of the company’s stock valued at $1,136,000 after acquiring an additional 8,074 shares during the last quarter.

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.