Insider Selling: Circle Internet Group (NYSE:CRCL) Insider Sells 10,000 Shares of Stock

Circle Internet Group, Inc. (NYSE:CRCL) insider Nikhil Chandhok sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $111.00, for a total value of $1,110,000.00. Following the transaction, the insider owned 532,745 shares of the company’s stock, valued at $59,134,695. This trade represents a 1.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, April 21st, Nikhil Chandhok sold 10,000 shares of Circle Internet Group stock. The stock was sold at an average price of $104.00, for a total value of $1,040,000.00.
• On Monday, March 23rd, Nikhil Chandhok sold 10,000 shares of Circle Internet Group stock. The shares were sold at an average price of $123.08, for a total value of $1,230,800.00.
• On Thursday, February 26th, Nikhil Chandhok sold 20,000 shares of Circle Internet Group stock. The shares were sold at an average price of $90.00, for a total value of $1,800,000.00.

Circle Internet Group Stock Performance

CRCL stock traded down $1.81 during midday trading on Friday, reaching $113.07. The company’s stock had a trading volume of 9,623,247 shares, compared to its average volume of 15,513,280. Circle Internet Group, Inc. has a 1 year low of $49.90 and a 1 year high of $298.99. The firm has a market capitalization of $27.91 billion and a price-to-earnings ratio of -35.33. The stock has a fifty day simple moving average of $107.12 and a two-hundred day simple moving average of $89.31.

Circle Internet Group (NYSE:CRCL) last issued its earnings results on Monday, May 11th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.06). The company had revenue of $694.13 million for the quarter. Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, analysts forecast that Circle Internet Group, Inc. will post 1.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Circle Internet Group

Hedge funds have recently modified their holdings of the business. Creative Planning bought a new stake in Circle Internet Group during the 2nd quarter valued at $295,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Circle Internet Group in the 2nd quarter worth $1,474,000. Invesco Ltd. purchased a new stake in shares of Circle Internet Group during the 2nd quarter worth $47,640,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Circle Internet Group during the 2nd quarter worth $27,000. Finally, Baird Financial Group Inc. bought a new stake in Circle Internet Group during the second quarter valued at about $2,649,000.

Analyst Ratings Changes

CRCL has been the topic of a number of research analyst reports. Canaccord Genuity Group restated a “buy” rating and issued a $160.00 target price on shares of Circle Internet Group in a research note on Wednesday, March 25th. Weiss Ratings reiterated a “sell (d)” rating on shares of Circle Internet Group in a report on Monday, April 20th. Zacks Research raised Circle Internet Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 17th. JPMorgan Chase & Co. reduced their price objective on Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, February 10th. Finally, Compass Point reaffirmed a “sell” rating and set a $77.00 target price (down from $79.00) on shares of Circle Internet Group in a research report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $137.12.

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.