Brokerages Set Circle Internet Group, Inc. (NYSE:CRCL) Target Price at $137.12

Shares of Circle Internet Group, Inc. (NYSE:CRCL) have received an average rating of “Hold” from the twenty-five analysts that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $137.1176.

Several equities analysts have recently issued reports on the company. Wall Street Zen cut Circle Internet Group from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Compass Point restated a “sell” rating and set a $77.00 target price (down from $79.00) on shares of Circle Internet Group in a research report on Thursday, April 9th. Freedom Capital upgraded Circle Internet Group to a “hold” rating in a research report on Tuesday, April 21st. Canaccord Genuity Group reiterated a “buy” rating and set a $160.00 target price on shares of Circle Internet Group in a research report on Wednesday, March 25th. Finally, William Blair reiterated an “outperform” rating on shares of Circle Internet Group in a research report on Wednesday, February 25th.

Insiders Place Their Bets

In related news, Director M Michele Burns sold 80,000 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $94.88, for a total transaction of $7,590,400.00. Following the completion of the transaction, the director owned 305,230 shares in the company, valued at $28,960,222.40. This represents a 20.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Heath Tarbert sold 122,007 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $94.23, for a total transaction of $11,496,719.61. Following the transaction, the president owned 599,156 shares of the company’s stock, valued at approximately $56,458,469.88. This trade represents a 16.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 463,624 shares of company stock worth $46,757,927. Corporate insiders own 10.85% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. General Catalyst Group Management LLC acquired a new position in shares of Circle Internet Group during the 2nd quarter worth about $3,647,694,000. Marshall Wace LLP increased its position in shares of Circle Internet Group by 23.8% during the fourth quarter. Marshall Wace LLP now owns 9,978,729 shares of the company’s stock worth $791,313,000 after purchasing an additional 1,919,205 shares in the last quarter. IDG Accel China Capital II Associates L.P. purchased a new stake in shares of Circle Internet Group during the fourth quarter worth approximately $554,792,000. Accel XI Associates L.L.C. purchased a new stake in shares of Circle Internet Group during the fourth quarter worth approximately $513,844,000. Finally, Vanguard Group Inc. increased its position in shares of Circle Internet Group by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 5,653,110 shares of the company’s stock worth $448,292,000 after purchasing an additional 74,414 shares in the last quarter.

Circle Internet Group Trading Down 1.7%

Shares of NYSE CRCL opened at $102.40 on Thursday. Circle Internet Group has a 12 month low of $49.90 and a 12 month high of $298.99. The company has a 50 day simple moving average of $106.43 and a two-hundred day simple moving average of $89.24. The stock has a market cap of $25.45 billion and a price-to-earnings ratio of -32.00.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.06). Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The business had revenue of $694.13 million for the quarter. The firm’s revenue was up 20.0% compared to the same quarter last year. Analysts forecast that Circle Internet Group will post 1.07 EPS for the current 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 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.