Circle Internet Group (NYSE:CRCL) Downgraded by Wall Street Zen to Sell

by · The Cerbat Gem

Wall Street Zen downgraded shares of Circle Internet Group (NYSE:CRCL – Free Report) from a hold rating to a sell rating in a research note published on Saturday.

A number of other brokerages have also recently commented on CRCL. Canaccord Genuity Group restated a “buy” rating and set a $247.00 target price on shares of Circle Internet Group in a report on Thursday, September 11th. Robert W. Baird lowered their price target on shares of Circle Internet Group from $144.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, November 13th. Oppenheimer began coverage on shares of Circle Internet Group in a research note on Friday, September 12th. They set a “market perform” rating on the stock. Citigroup initiated coverage on shares of Circle Internet Group in a research note on Tuesday, September 30th. They issued a “market perform” rating for the company. Finally, Citizens Jmp initiated coverage on Circle Internet Group in a report on Tuesday, September 30th. They set a “market perform” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $144.69.

View Our Latest Analysis on CRCL

Circle Internet Group Price Performance

Shares of NYSE CRCL opened at $83.40 on Friday. Circle Internet Group has a 1-year low of $64.00 and a 1-year high of $298.99. The business’s fifty day moving average is $105.72.

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

Insider Buying and Selling

In other news, Director Danita K. Ostling sold 2,662 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $84.69, for a total transaction of $225,444.78. Following the completion of the transaction, the director directly owned 26,290 shares in the company, valued at approximately $2,226,500.10. This represents a 9.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the insider directly owned 493,639 shares of the company’s stock, valued at approximately $38,049,694.12. This represents a 16.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 618,847 shares of company stock valued at $49,268,665.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Larson Financial Group LLC grew its position in shares of Circle Internet Group by 3,800.0% during the third quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock worth $26,000 after acquiring an additional 190 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Circle Internet Group in the 3rd quarter worth approximately $27,000. EverSource Wealth Advisors LLC bought a new stake in Circle Internet Group during the second quarter worth approximately $27,000. Highline Wealth Partners LLC bought a new position in shares of Circle Internet Group in the third quarter valued at $32,000. Finally, Montag A & Associates Inc. acquired a new stake in shares of Circle Internet Group during the 3rd quarter valued at $33,000.

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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