Nikhil Chandhok Sells 20,000 Shares of Circle Internet Group (NYSE:CRCL) Stock

Circle Internet Group, Inc. (NYSE:CRCL) insider Nikhil Chandhok sold 20,000 shares of Circle Internet Group 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 $1,800,000.00. Following the sale, the insider owned 425,295 shares of the company’s stock, valued at approximately $38,276,550. The trade was a 4.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Nikhil Chandhok also recently made the following trade(s):

• On Monday, December 22nd, Nikhil Chandhok sold 10,000 shares of Circle Internet Group stock. The stock was sold at an average price of $90.00, for a total value of $900,000.00.
• On Friday, December 12th, Nikhil Chandhok sold 10,000 shares of Circle Internet Group stock. The shares were sold at an average price of $90.00, for a total transaction of $900,000.00.

Circle Internet Group Price Performance

NYSE CRCL traded up $12.75 during trading on Monday, hitting $96.19. 32,585,178 shares of the company’s stock traded hands, compared to its average volume of 13,431,398. The firm has a market cap of $22.65 billion and a P/E ratio of -42.00. The stock has a fifty day moving average of $72.17 and a two-hundred day moving average of $99.61. Circle Internet Group, Inc. has a 12-month low of $49.90 and a 12-month high of $298.99.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.18. The firm had revenue of $770.23 million for the quarter. Circle Internet Group’s revenue was up 76.9% on a year-over-year basis.

Wall Street Analysts Forecast Growth

CRCL has been the topic of several analyst reports. Monness Crespi & Hardt started coverage on Circle Internet Group in a report on Monday, November 10th. They issued a “buy” rating and a $150.00 target price on the stock. Zacks Research lowered Circle Internet Group from a “hold” rating to a “strong sell” rating in a research report on Monday, February 16th. Weiss Ratings reissued a “sell (d)” rating on shares of Circle Internet Group in a research report on Wednesday, January 21st. Morgan Stanley started coverage on shares of Circle Internet Group in a report on Monday, February 2nd. They issued an “equal weight” rating and a $66.00 target price for the company. Finally, Sanford C. Bernstein set a $190.00 price target on shares of Circle Internet Group in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $122.12.

Institutional Trading of Circle Internet Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. General Catalyst Group Management LLC bought a new position in Circle Internet Group during the second quarter valued at approximately $3,647,694,000. Marshall Wace LLP purchased a new stake in shares of Circle Internet Group during the 2nd quarter worth approximately $1,547,214,000. IDG Accel China Capital II Associates L.P. bought a new position in shares of Circle Internet Group during the 4th quarter valued at approximately $554,792,000. Accel XI Associates L.L.C. bought a new stake in Circle Internet Group in the fourth quarter worth $513,844,000. Finally, Vanguard Group Inc. increased its position in Circle Internet Group by 61.6% in the third quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock worth $739,624,000 after purchasing an additional 2,126,072 shares during the last quarter.

Circle Internet Group Company Profile

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 USD Coin (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.