Circle Internet Group (NYSE:CRCL) Insider Sells $900,000.00 in Stock

Circle Internet Group, Inc. (NYSE:CRCL) insider Nikhil Chandhok sold 10,000 shares of the stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $90.00, for a total transaction of $900,000.00. Following the completion of the transaction, the insider owned 474,974 shares of the company’s stock, valued at $42,747,660. This represents a 2.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, December 12th, 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 Monday, December 1st, Nikhil Chandhok sold 100,000 shares of Circle Internet Group stock. The shares were sold at an average price of $77.08, for a total value of $7,708,000.00.

Circle Internet Group Stock Down 5.1%

Shares of Circle Internet Group stock traded down $4.41 during trading on Tuesday, hitting $82.60. The stock had a trading volume of 9,334,052 shares, compared to its average volume of 18,173,600. The firm’s fifty day simple moving average is $98.14. Circle Internet Group, Inc. has a fifty-two week low of $64.00 and a fifty-two week high of $298.99.

Circle Internet Group (NYSE:CRCL) last released its earnings results on Wednesday, November 12th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.44. The business had revenue of $739.76 million during the quarter. The business’s quarterly revenue was up 65.9% compared to the same quarter last year.

Hedge Funds Weigh In On Circle Internet Group

Several institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC raised its stake in shares of Circle Internet Group by 3,800.0% in the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after acquiring an additional 190 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in Circle Internet Group during the third quarter valued at about $27,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Circle Internet Group in the second quarter valued at about $27,000. Highline Wealth Partners LLC bought a new position in Circle Internet Group in the 3rd quarter worth approximately $32,000. Finally, Montag A & Associates Inc. acquired a new position in shares of Circle Internet Group during the third quarter worth approximately $33,000.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. William Blair reissued an “outperform” rating on shares of Circle Internet Group in a research report on Wednesday, November 12th. JPMorgan Chase & Co. raised Circle Internet Group from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $94.00 to $100.00 in a research report on Thursday, November 13th. Wall Street Zen lowered Circle Internet Group from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Oppenheimer assumed coverage on Circle Internet Group in a report on Friday, September 12th. They issued a “market perform” rating on the stock. Finally, Citigroup assumed coverage on shares of Circle Internet Group in a research report on Tuesday, September 30th. They set a “market perform” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Circle Internet Group has a consensus rating of “Hold” and a consensus price target of $141.18.

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.