TLDR
- Circle Internet Group stock closed 10.9% higher on Friday, reaching $79.81 during trading
- The stablecoin manager’s recent earnings beat expectations with $0.64 EPS versus $0.20 expected
- USDC market cap dropped 3% from November 13-21 but has now recovered to previous levels
- Insiders sold approximately 551,455 shares worth $45.6 million last quarter
- ARK Investment Management purchased a new $530 million stake in the company
Circle Internet Group saw its stock price surge on Friday as crypto markets bounced back from a two-week decline. The company closed 10.9% higher at $79.81 after trading volumes hit over 8 million shares.
The stablecoin manager has been riding the volatility wave since going public on June 4, 2025. Its stock initially more than tripled in the first month. Six months later, shares are trading below the first day’s closing price.
Circle makes money by managing the USDC stablecoin rather than dealing with Bitcoin directly. The company earns interest on cash reserves that back USDC. When more USDC is in circulation, Circle’s revenue increases.
USDC’s market cap experienced a 3% drop between November 13 and November 21. Investors pulled money out during that period. The Thanksgiving break brought a reversal as those funds flowed back into the market.
The company’s recent earnings report showed strong performance. Circle posted $0.64 earnings per share, crushing the $0.20 consensus estimate. Revenue hit $739.76 million, up 65.9% year-over-year.
Mixed Signals from Wall Street
Analysts remain divided on Circle’s prospects. The consensus rating sits at Hold with a price target of $150.33. That represents substantial upside from current levels.
JPMorgan Chase upgraded the stock from underweight to overweight in mid-November. They raised their price target from $94 to $100. Wells Fargo cut their target from $160 to $128 while maintaining an overweight rating.
Needham & Company slashed their price objective from $250 to $190. Canaccord Genuity Group kept a buy rating with a $247 target. Two analysts rate it Strong Buy, eight say Buy, nine recommend Hold, and three have Sell ratings.
The 50-day moving average stands at $116.93, well above Friday’s closing price. This suggests the stock has room to climb back to recent levels.
Insider Activity Raises Questions
Company insiders sold over half a million shares last quarter. Director Danita K. Ostling sold 2,662 shares at $84.69 each on November 13. Director Rajeev V. Date dumped 127,247 shares at $72.29 on November 24.
Total insider sales reached $45.6 million. These transactions came even as institutional money flowed in. ARK Investment Management bought a massive new position worth $530 million in the second quarter.
Circle’s business model mirrors traditional banking in some ways. Banks earn interest on deposits just like Circle earns on USDC reserves. The key difference is the crypto connection that drives wild price swings.
When Bitcoin and other major cryptocurrencies trade heavily, USDC activity increases. People use stablecoins to move in and out of crypto positions. This creates direct links between crypto market health and Circle’s revenue.
The stock’s volatility reflects Wall Street’s struggle to value this new business model. Investors can’t decide if Circle is a bank, a tech company, or a pure crypto play. The answer is probably all three.
Trading volume on Friday came in 57% below the average session volume of 18.7 million shares. The shortened post-Thanksgiving trading session limited activity to just 150 minutes of full-service trading. USDC’s market cap has now returned to pre-November 13 levels as crypto market sentiment improved.
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