Circle Internet Group (NYSE:CRCL) Upgraded to Hold at HC Wainwright

HC Wainwright upgraded shares of Circle Internet Group (NYSE:CRCL) to a hold rating in a report issued on Friday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Needham & Company LLC lowered their price objective on shares of Circle Internet Group from $250.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Wells Fargo & Company lowered their target price on Circle Internet Group from $160.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, November 13th. Wall Street Zen lowered Circle Internet Group from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Deutsche Bank Aktiengesellschaft dropped their price objective on Circle Internet Group from $147.00 to $90.00 and set a “hold” rating for the company in a research note on Thursday, November 13th. Finally, Rothschild Redb upgraded shares of Circle Internet Group to a “hold” rating in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $141.18.

Circle Internet Group Stock Up 5.9%

Shares of NYSE CRCL opened at $85.79 on Friday. The business has a 50-day moving average of $99.16. Circle Internet Group has a 52 week low of $64.00 and a 52 week high of $298.99.

Circle Internet Group (NYSE:CRCL) last posted its earnings results on Wednesday, November 12th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.44. The firm had revenue of $739.76 million for the quarter. The business’s revenue for the quarter was up 65.9% on a year-over-year basis.

Insider Transactions at Circle Internet Group

In other Circle Internet Group news, insider Nikhil Chandhok sold 100,000 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $77.08, for a total transaction of $7,708,000.00. Following the completion of the transaction, the insider owned 493,639 shares of the company’s stock, valued at approximately $38,049,694.12. This trade represents a 16.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Patrick Sean Neville sold 33,569 shares of Circle Internet Group stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $85.05, for a total transaction of $2,855,043.45. Following the transaction, the director owned 33,568 shares of the company’s stock, valued at $2,854,958.40. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 696,790 shares of company stock worth $56,284,056.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC grew its stake 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 valued at $26,000 after acquiring an additional 190 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Circle Internet Group in the third quarter valued at $27,000. EverSource Wealth Advisors LLC bought a new position in Circle Internet Group during the second quarter valued at $27,000. Highline Wealth Partners LLC purchased a new position in Circle Internet Group in the third quarter worth about $32,000. Finally, Montag A & Associates Inc. bought a new position in shares of Circle Internet Group during the 3rd quarter valued at approximately $33,000.

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.