Circle Internet Group (NYSE:CRCL) Insider Sells 26,668 Shares of Company Stock

Circle Internet Group, Inc. (NYSE:CRCL) insider Nikhil Chandhok sold 26,668 shares of the business’s stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $79.59, for a total transaction of $2,122,506.12. Following the sale, the insider directly owned 715,331 shares of the company’s stock, valued at $56,933,194.29. This represents a 3.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, September 8th, Nikhil Chandhok sold 26,666 shares of Circle Internet Group stock. The stock was sold at an average price of $100.40, for a total value of $2,677,266.40.
• On Monday, August 10th, Nikhil Chandhok sold 26,666 shares of Circle Internet Group stock. The shares were sold at an average price of $67.15, for a total value of $1,790,621.90.

Circle Internet Group Price Performance

CRCL stock traded up $3.81 during trading on Friday, reaching $84.65. 12,972,728 shares of the stock traded hands, compared to its average volume of 14,664,941. The business’s 50 day moving average price is $83.72 and its 200-day moving average price is $87.37. Circle Internet Group, Inc. has a 52-week low of $49.90 and a 52-week high of $159.47. The firm has a market capitalization of $21.49 billion, a PE ratio of 57.98 and a beta of 0.73.

Circle Internet Group (NYSE:CRCL) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.08). The firm had revenue of $701.32 million during the quarter. Circle Internet Group had a return on equity of 13.58% and a net margin of 15.53%.Circle Internet Group’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the business posted ($4.48) EPS. On average, equities research analysts predict that Circle Internet Group, Inc. will post 1.08 earnings per share for the current year.

Hedge Funds Weigh In On Circle Internet Group

A number of hedge funds have recently bought and sold shares of the company. IDG Accel China Capital II Associates L.P. acquired a new position in Circle Internet Group in the fourth quarter worth $554,792,000. Southpoint Capital Advisors LP raised its holdings in shares of Circle Internet Group by 175.0% during the first quarter. Southpoint Capital Advisors LP now owns 3,300,000 shares of the company’s stock worth $314,853,000 after purchasing an additional 2,100,000 shares during the period. SBI Holdings USA Inc. bought a new position in shares of Circle Internet Group in the 2nd quarter worth about $101,084,820. IDG China Capital Fund GP III Associates Ltd. acquired a new position in shares of Circle Internet Group in the 4th quarter valued at about $103,701,000. Finally, Clear Street Group Inc. boosted its holdings in shares of Circle Internet Group by 154.1% in the 4th quarter. Clear Street Group Inc. now owns 1,605,509 shares of the company’s stock valued at $127,317,000 after buying an additional 973,552 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CRCL shares. Canaccord Genuity Group lowered their target price on Circle Internet Group from $160.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Raymond James Financial started coverage on shares of Circle Internet Group in a report on Tuesday, July 21st. They set a “market perform” rating for the company. Weiss Ratings cut shares of Circle Internet Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday. HC Wainwright lowered their target price on Circle Internet Group from $115.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, Robert W. Baird reduced their price target on Circle Internet Group from $138.00 to $100.00 and set an “outperform” rating for the company in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $97.82.

About Circle Internet Group

Circle Internet Group, Inc is a global financial technology company that develops infrastructure for digital currencies and blockchain-based payments. Its primary product is USD Coin (USDC), a dollar-denominated stablecoin designed to maintain a stable value and support digital transactions, payments and transfers across blockchain networks. Circle also issues EURC, a euro-denominated stablecoin.

The company provides institutional and developer-focused services through Circle Mint, which enables eligible businesses to create, redeem and manage USDC and access related payment and treasury tools.