Circle Internet Group (NYSE:CRCL) Price Target Raised to $138.00

Circle Internet Group (NYSE:CRCL) had its target price hoisted by Robert W. Baird from $110.00 to $138.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities analysts have also issued research reports about the company. Zacks Research lowered Circle Internet Group from a “hold” rating to a “strong sell” rating in a research report on Monday, February 16th. Clear Str raised shares of Circle Internet Group from a “hold” rating to a “strong-buy” rating in a report on Monday. Sanford C. Bernstein set a $190.00 price target on shares of Circle Internet Group in a research note on Tuesday, January 6th. Wall Street Zen upgraded shares of Circle Internet Group from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Canaccord Genuity Group cut their target price on shares of Circle Internet Group from $247.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $126.29.

Circle Internet Group Stock Down 3.4%

Shares of NYSE CRCL opened at $128.30 on Tuesday. Circle Internet Group has a twelve month low of $49.90 and a twelve month high of $298.99. The firm has a market cap of $30.21 billion and a P/E ratio of -68.98. The company has a 50 day moving average of $81.15 and a 200 day moving average of $98.13.

Circle Internet Group (NYSE:CRCL) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.18. The business had revenue of $770.23 million during the quarter. The company’s revenue was up 76.9% compared to the same quarter last year.

Insider Transactions at Circle Internet Group

In related news, CFO Jeremy Fox-Geen sold 47,908 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $90.00, for a total transaction of $4,311,720.00. Following the completion of the sale, the chief financial officer directly owned 261,059 shares in the company, valued at approximately $23,495,310. The trade was a 15.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Heath Tarbert sold 122,007 shares of the stock in a transaction that occurred on 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 completion of the transaction, the president owned 599,156 shares in the company, valued at $56,458,469.88. The trade was a 16.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 493,056 shares of company stock worth $47,456,525.

Hedge Funds Weigh In On Circle Internet Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC bought a new stake in Circle Internet Group during the second quarter valued at about $27,000. PNC Financial Services Group Inc. raised its stake in shares of Circle Internet Group by 14.9% in the third quarter. PNC Financial Services Group Inc. now owns 1,164 shares of the company’s stock worth $154,000 after buying an additional 151 shares during the period. Larson Financial Group LLC raised its stake in shares of Circle Internet Group by 3,800.0% in the third quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock worth $26,000 after buying an additional 190 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Circle Internet Group during the 3rd quarter valued at about $27,000. Finally, Allworth Financial LP bought a new position in shares of Circle Internet Group during the 2nd quarter valued at approximately $37,000.

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.