Circle Internet Group (NYSE:CRCL) Trading Up 1.9% – Here’s What Happened

by · The Markets Daily

Shares of Circle Internet Group, Inc. (NYSE:CRCL – Get Free Report) shot up 1.9% on Tuesday . The stock traded as high as $80.73 and last traded at $77.36. 14,407,285 shares traded hands during trading, a decline of 23% from the average session volume of 18,821,369 shares. The stock had previously closed at $75.94.

Analyst Ratings Changes

Several brokerages have commented on CRCL. Robert W. Baird dropped their price target on shares of Circle Internet Group from $144.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, November 13th. Weiss Ratings restated a “sell (d)” rating on shares of Circle Internet Group in a report on Wednesday, October 8th. William Blair reaffirmed an “outperform” rating on shares of Circle Internet Group in a research report on Wednesday, November 12th. Redburn Partners set a $136.00 price target on shares of Circle Internet Group in a research report on Friday, October 3rd. Finally, Baird R W upgraded shares of Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 14th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $144.69.

Check Out Our Latest Analysis on CRCL

Circle Internet Group Stock Up 1.9%

The firm has a 50 day moving average of $114.43.

Circle Internet Group (NYSE:CRCL – Get Free Report) last announced its quarterly earnings data 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 business had revenue of $739.76 million for the quarter. The company’s revenue for the quarter was up 65.9% on a year-over-year basis.

Insider Activity at Circle Internet Group

In related news, Director Patrick Sean Neville sold 33,569 shares of the firm’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $85.05, for a total value of $2,855,043.45. Following the completion of the sale, the director owned 33,568 shares in the company, valued at $2,854,958.40. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeremy Fox-Geen sold 33,608 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $121.45, for a total transaction of $4,081,691.60. Following the transaction, the chief financial officer owned 297,823 shares in the company, valued at $36,170,603.35. The trade was a 10.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 551,455 shares of company stock worth $45,564,337.

Hedge Funds Weigh In On Circle Internet Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. IFP Advisors Inc grew its holdings in Circle Internet Group by 2,565.3% in the third quarter. IFP Advisors Inc now owns 3,225 shares of the company’s stock valued at $428,000 after purchasing an additional 3,104 shares during the last quarter. WJ Wealth Management LLC purchased a new stake in shares of Circle Internet Group in the 3rd quarter worth about $289,000. Tcfg Wealth Management LLC acquired a new stake in Circle Internet Group in the 3rd quarter valued at about $323,000. Sunbelt Securities Inc. purchased a new position in Circle Internet Group during the 3rd quarter valued at about $51,000. Finally, Advisory Services Network LLC acquired a new position in Circle Internet Group during the third quarter worth about $56,000.

Circle Internet Group Company Profile

(Get Free Report)

Founded in 2013, Circle’s mission is to raise global economic prosperity through the frictionless exchange of value. We intend to connect the world more deeply by building a new global economic system on the foundation of the internet, and to facilitate the creation of a world where everyone, everywhere can share value as easily as we can today share information, content, and communications.

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