Circle stock gets hit with another Sell rating. Here’s why.
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Diverging Reports Breakdown
Circle Internet Group (NYSE:CRCL) Shares Up 2.6% – What’s Next?
Shares of Circle Internet Group, Inc. (NYSE:CRCL) were up 2.6% on Monday. The company traded as high as $231.88 and last traded at $229.67. Approximately 7,645,873 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 36,779,707 shares. The stock had previously closed at $223.78.CRCL has been the subject of a number of analyst reports. Compass Point cut Circle Internet group from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $205.00 to $130.00 in a research report on Monday, June 30th. Barclays assumed coverage on Circle Web Group in aResearch note on Monday and set an “overweight” rating for the company. Citigroup set a “buy” rating on the company and set a $243.00 price target.
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Analyst Ratings Changes
CRCL has been the subject of a number of analyst reports. Compass Point cut Circle Internet Group from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $205.00 to $130.00 in a research report on Monday. Barclays assumed coverage on Circle Internet Group in a research note on Monday, June 30th. They set an “overweight” rating and a $215.00 price target for the company. Citigroup assumed coverage on Circle Internet Group in a research note on Monday, June 30th. They set a “buy” rating and a $243.00 price target for the company. Oppenheimer assumed coverage on Circle Internet Group in a report on Monday, June 30th. They set a “market perform” rating on the stock. Finally, Baird R W upgraded Circle Internet Group to a “hold” rating in a report on Friday, July 11th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $175.27.
Get Our Latest Analysis on Circle Internet Group
Circle Internet Group Price Performance
The firm has a market cap of $43.88 billion and a P/E ratio of -15,580.84.
Insider Activity at Circle Internet Group
In other news, Director Patrick Sean Neville sold 1,000,000 shares of the company’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $29.30, for a total transaction of $29,300,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jeremy Allaire sold 1,582,160 shares of the company’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $29.30, for a total value of $46,357,288.00. The disclosure for this sale can be found here. Insiders sold 6,682,884 shares of company stock valued at $195,808,501 over the last ninety days.
Institutional Trading of Circle Internet Group
Large investors have recently modified their holdings of the stock. North Star Investment Management Corp. purchased a new position in Circle Internet Group in the second quarter valued at $34,000. Hennessy Advisors Inc. purchased a new position in shares of Circle Internet Group during the second quarter worth about $36,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Circle Internet Group during the second quarter worth about $79,000. Westbourne Investments Inc. purchased a new position in shares of Circle Internet Group during the second quarter worth about $204,000. Finally, Truist Financial Corp purchased a new position in shares of Circle Internet Group during the second quarter worth about $218,000.
Circle Internet Group Company Profile
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.
Further Reading
Before you consider Circle Internet Group, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Circle Internet Group wasn’t on the list.
While Circle Internet Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
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Circle Internet Group (NYSE:CRCL) Stock Price Down 3.3% – Here’s What Happened
Circle Internet Group, Inc. (NYSE:CRCL – Get Free Report) shares were down 3.3% during trading on Tuesday. The company traded as low as $196.70 and last traded at $198.00. Approximately 4,135,487 shares traded hands during trading, a decline of 89% from the average daily volume of 37,315,027 shares. The stock had previously closed at $204.70. Circle Internet Group currently has a consensus rating of “Hold” and an average price target of $182.09. The firm has a market cap of $49.81 billion and a price-to-earnings ratio of -17,689.27. It is currently among the top-rated stocks that top analysts are quietly whispering to their clients to buy now before the market catches on… and Circle Internet wasn’t on the list on the broader market list at the start of the year. For more information about Circle Internet, visit the company’s website.
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Wall Street Analysts Forecast Growth
A number of analysts have commented on CRCL shares. The Goldman Sachs Group started coverage on Circle Internet Group in a research report on Monday, June 30th. They set a “neutral” rating and a $83.00 price target for the company. Canaccord Genuity Group started coverage on Circle Internet Group in a research report on Monday, June 30th. They set a “buy” rating and a $247.00 price target for the company. Citigroup initiated coverage on Circle Internet Group in a research report on Monday, June 30th. They set a “buy” rating and a $243.00 price target for the company. Barclays initiated coverage on Circle Internet Group in a research note on Monday, June 30th. They set an “overweight” rating and a $215.00 price objective for the company. Finally, Robert W. Baird initiated coverage on Circle Internet Group in a research note on Friday, July 11th. They set a “neutral” rating and a $210.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Circle Internet Group currently has a consensus rating of “Hold” and an average price target of $182.09.
Check Out Our Latest Report on CRCL
Circle Internet Group Price Performance
The company has a market cap of $49.81 billion and a price-to-earnings ratio of -17,689.27.
Insider Activity at Circle Internet Group
In other Circle Internet Group news, CFO Jeremy Fox-Geen sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $29.30, for a total transaction of $5,860,000.00. Following the completion of the sale, the chief financial officer directly owned 320,371 shares in the company, valued at approximately $9,386,870.30. The trade was a 38.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeremy Allaire sold 1,582,160 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $29.30, for a total value of $46,357,288.00. The disclosure for this sale can be found here. Insiders sold 6,682,884 shares of company stock worth $195,808,501 in the last quarter.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Brand Asset Management Group Inc. acquired a new position in Circle Internet Group in the second quarter valued at approximately $272,000. Westbourne Investments Inc. acquired a new position in Circle Internet Group in the second quarter valued at approximately $204,000. Baader Bank Aktiengesellschaft acquired a new position in Circle Internet Group in the second quarter valued at approximately $1,083,000. Wealth Enhancement Advisory Services LLC acquired a new position in Circle Internet Group in the second quarter valued at approximately $673,000. Finally, Exchange Traded Concepts LLC acquired a new position in Circle Internet Group in the second quarter valued at approximately $18,397,000.
About Circle Internet Group
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.
Featured Articles
Before you consider Circle Internet Group, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Circle Internet Group wasn’t on the list.
While Circle Internet Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Circle Internet Group (NYSE:CRCL) Shares Gap Down – What’s Next?
Circle Internet Group, Inc. (NYSE:CRCL – Get Free Report)’s stock price gapped down prior to trading on Tuesday. The stock had previously closed at $216.10, but opened at $207.55. Circle Internet Group shares last traded at $199.50, with a volume of 6,145,465 shares trading hands. The firm has a market capitalization of $43.82 billion and a P/E ratio of -15,562.67. It currently has an average rating of “Hold” and an average price target of $175.27. The company’s CEO Jeremy Allaire sold 1,582,160 shares of the business’s stock in a transaction that occurred on Friday, June 6th. This represents a 15.00% decrease in their ownership of the stock. Insiders have sold 6,682,884 shares of company stock worth $195,808,501 over the last 90 days. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
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Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Circle Internet Group in a research note on Monday, June 30th. They issued a “hold” rating and a $155.00 price objective on the stock. Oppenheimer initiated coverage on Circle Internet Group in a report on Monday, June 30th. They issued a “market perform” rating for the company. Seaport Res Ptn raised Circle Internet Group to a “strong-buy” rating in a report on Friday, June 20th. Canaccord Genuity Group started coverage on Circle Internet Group in a report on Monday, June 30th. They issued a “buy” rating and a $247.00 price objective for the company. Finally, The Goldman Sachs Group assumed coverage on Circle Internet Group in a report on Monday, June 30th. They set a “neutral” rating and a $83.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Circle Internet Group currently has an average rating of “Hold” and an average price target of $175.27.
Get Our Latest Analysis on CRCL
Circle Internet Group Price Performance
The firm has a market capitalization of $43.82 billion and a P/E ratio of -15,562.67.
Insider Activity at Circle Internet Group
In other news, CEO Jeremy Allaire sold 1,582,160 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $29.30, for a total value of $46,357,288.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Catalyst Group Vi L.P General sold 3,550,724 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $29.30, for a total value of $104,036,213.20. Following the completion of the sale, the insider directly owned 20,120,769 shares in the company, valued at approximately $589,538,531.70. This represents a 15.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,682,884 shares of company stock worth $195,808,501 over the last 90 days.
Hedge Funds Weigh In On Circle Internet Group
A number of institutional investors and hedge funds have recently modified their holdings of the company. Exchange Traded Concepts LLC purchased a new stake in Circle Internet Group during the second quarter valued at approximately $18,397,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Circle Internet Group in the second quarter worth approximately $5,330,000. Baader Bank Aktiengesellschaft bought a new position in Circle Internet Group in the second quarter worth approximately $1,083,000. Wealth Enhancement Advisory Services LLC bought a new position in Circle Internet Group in the second quarter worth approximately $673,000. Finally, PFG Investments LLC bought a new stake in Circle Internet Group during the 2nd quarter valued at $579,000.
Circle Internet Group Company Profile
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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Circle Internet Group, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Circle Internet Group wasn’t on the list.
While Circle Internet Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Circle stock downgraded to Sell by Wall Street analyst citing rising competition, valuation concerns
Circle (CRCL) stock fell as much as 8% Tuesday after a downgrade from Compass Point. The firm downgraded Circle to Sell from Neutral and lowered the stock’s price target to $130 from $205. The development comes on the heels of the Genius Act signed into law by President Trump last week. Shares are up more than 500% since the company’s blockbuster IPO on June 5. The legislation is designed to regulate the issuance and oversight of digital tokens backed by assets such as the US dollar and short term Treasury bills.. Wall Street remains divided, with nine Buy, six Hold, and four Sell ratings.
The firm downgraded Circle to Sell from Neutral and lowered the stock’s price target to $130 from $205.
The development comes on the heels of the Genius Act signed into law by President Trump last week. The legislation, designed to regulate the issuance and oversight of digital tokens backed by assets such as the US dollar and short term Treasury bills, has been a major catalyst for Circle stock. Shares are up more than 500% since the company’s blockbuster IPO on June 5.
“While we expected CRCL to rally into stablecoin legislation, crypto investors typically ‘sell the news’ after highly anticipated events,” crypto and equity research analyst Ed Engel said in a note on Monday.
“As such, we expect CRCL to retrace some of its recent rally,” he added.
Circle makes much of its money from interest income — specifically from short-term Treasury bills backing its stablecoin, USDC (USDC-USD).
In recent weeks, Wall Street analysts have flagged risks heading into the back half of the year for the highflier, including rising distribution costs given that a significant portion of its reserve income is shared with partners like Coinbase (COIN).
“In the coming months, we expect Circle to expand its distribution network while sharing a greater percent of interest income,” Engel wrote.
“We also expect traditional banks and Fintechs to announce competing stablecoin products,” he added.
Earlier this month, Mizuho analyst Dan Dolev initiated coverage of the stock with an Underperform rating and a $85 price target. He noted that if the Federal Reserve starts cutting interest rates in September, yields on Treasurys would decline, impacting Circle’s bottom line.
Read more: How the Fed rate decision affects your bank accounts, loans, credit cards, and investments
“We believe consensus does not fully account for looming interest rate cuts, and also overstates USDC’s medium-term growth potential,” wrote Dolev and his team.
Circle stock has rallied 500% since the company went public on June 5. (AP Photo/Richard Drew) · ASSOCIATED PRESS
Not everyone is bearish on the stock. Wall Street remains divided, with nine Buy, six Hold, and four Sell ratings, according to Bloomberg data.
Last Friday, Seaport Research Partners raised its price target on Circle to $280 from $235.
“For CRCL, we see the Genius Act passing as a watershed moment that will eventually unlock a substantial amount of new opportunity for stablecoins,” analyst Jeff Cantwell wrote.
Circle Internet Group (NYSE:CRCL) Stock Price Down 7.9% – Here’s What Happened
Circle Internet Group, Inc. (NYSE:CRCL – Get Free Report) traded down 7.9% during trading on Friday. The company traded as low as $185.18 and last traded at $186.90. Approximately 9,277,564 shares changed hands during trading, a decline of 76% from the average daily volume of 39,168,617 shares. The stock had previously closed at $202.90 and is now down 9.0% on the year. Circle Internet Group has a market cap of $45.46 billion and a price-to-earnings ratio of -16,143.51. The firm has an average rating of “Hold” and a consensus price target of $182.09. The SEC has sold a total of 6,682,884 shares of the company’s stock worth $195,808,501 in the last ninety days. A number of equities analysts have recently weighed in on CRCL shares. Sanford C. Bernstein started coverage on Circle Internet group in a report on Monday, June 30th. They issued an “outperform” rating and a $230.00 target price on the stock. Seaport Res Ptn
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Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on CRCL shares. Sanford C. Bernstein started coverage on Circle Internet Group in a report on Monday, June 30th. They issued an “outperform” rating and a $230.00 target price on the stock. Baird R W raised shares of Circle Internet Group to a “hold” rating in a research note on Friday. Seaport Res Ptn upgraded shares of Circle Internet Group to a “strong-buy” rating in a report on Friday, June 20th. Mizuho began coverage on shares of Circle Internet Group in a research note on Tuesday, July 8th. They issued an “underperform” rating and a $85.00 price target on the stock. Finally, Compass Point initiated coverage on Circle Internet Group in a report on Tuesday, June 24th. They set a “neutral” rating and a $205.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $182.09.
Get Our Latest Stock Report on CRCL
Circle Internet Group Stock Up 9.0%
The company has a market cap of $45.46 billion and a price-to-earnings ratio of -16,143.51.
Insiders Place Their Bets
In other news, insider Nikhil Chandhok sold 300,000 shares of the firm’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $29.30, for a total value of $8,790,000.00. Following the sale, the insider directly owned 605,580 shares of the company’s stock, valued at approximately $17,743,494. This trade represents a 33.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Catalyst Group Vi L.P General sold 3,550,724 shares of Circle Internet Group stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $29.30, for a total value of $104,036,213.20. Following the completion of the transaction, the insider owned 20,120,769 shares in the company, valued at $589,538,531.70. The trade was a 15.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,682,884 shares of company stock worth $195,808,501 in the last ninety days.
Institutional Trading of Circle Internet Group
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC acquired a new position in shares of Circle Internet Group during the second quarter worth approximately $18,397,000. Baader Bank Aktiengesellschaft bought a new position in Circle Internet Group during the second quarter worth $1,083,000. Wealth Enhancement Advisory Services LLC acquired a new position in Circle Internet Group during the 2nd quarter valued at $673,000. Brand Asset Management Group Inc. bought a new stake in Circle Internet Group in the 2nd quarter valued at $272,000. Finally, Masso Torrence Wealth Management Inc. acquired a new stake in Circle Internet Group in the 2nd quarter worth $245,000.
Circle Internet Group Company Profile
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.
Recommended Stories
Before you consider Circle Internet Group, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Circle Internet Group wasn’t on the list.
While Circle Internet Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Source: https://finance.yahoo.com/video/circle-stock-gets-hit-another-164757828.html