Circle Internet Group (NYSE:CRCL) Shares Gap Down – Time to Sell?

Circle Internet Group, Inc. (NYSE:CRCL)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $207.46, but opened at $199.50. Circle Internet Group shares last traded at $206.59, with a volume of 6,934,487 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CRCL shares. Seaport Res Ptn raised Circle Internet Group to a “strong-buy” rating in a research report on Friday, June 20th. Oppenheimer started coverage on Circle Internet Group in a research note on Monday, June 30th. They set a “market perform” rating on the stock. Compass Point started coverage on Circle Internet Group in a research note on Tuesday, June 24th. They set a “neutral” rating and a $205.00 target price on the stock. JPMorgan Chase & Co. began coverage on Circle Internet Group in a research note on Monday, June 30th. They set an “underweight” rating and a $80.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on Circle Internet Group in a research report on Monday, June 30th. They set a “hold” rating and a $155.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $179.30.

Circle Internet Group Price Performance

The firm has a market cap of $45.57 billion and a PE ratio of -16,180.65.

Insider Buying and Selling

In other Circle Internet Group news, insider Nikhil Chandhok sold 300,000 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 $8,790,000.00. Following the completion of the sale, the insider directly owned 605,580 shares in the company, valued at approximately $17,743,494. The trade was a 33.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Catalyst Group Vi L.P General sold 3,550,724 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The shares were 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 owned 20,120,769 shares of the company’s stock, valued at $589,538,531.70. This trade represents a 15.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,682,884 shares of company stock worth $195,808,501 in the last ninety days.

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.