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

Circle Internet Group, Inc. (NYSE:CRCL) insider Nikhil Chandhok sold 26,668 shares of the stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $79.59, for a total value 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. The trade was a 3.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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

Shares of NYSE:CRCL opened at $84.65 on Friday. Circle Internet Group, Inc. has a 1 year low of $49.90 and a 1 year high of $159.47. The company has a market capitalization of $21.49 billion, a PE ratio of 57.98 and a beta of 0.73. The business has a fifty day moving average price of $84.16 and a two-hundred day moving average price of $87.35.

Circle Internet Group (NYSE:CRCL) last released its earnings results on Wednesday, August 5th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.08). The business had revenue of $701.32 million for 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 firm earned ($4.48) EPS. Sell-side analysts anticipate that Circle Internet Group, Inc. will post 1.08 earnings per share for the current year.

Institutional Investors Weigh In On Circle Internet Group

Several institutional investors have recently made changes to their positions in CRCL. IDG Accel China Capital II Associates L.P. purchased a new position in Circle Internet Group during the fourth quarter worth about $554,792,000. Southpoint Capital Advisors LP raised its holdings in shares of Circle Internet Group by 175.0% in the 1st quarter. Southpoint Capital Advisors LP now owns 3,300,000 shares of the company’s stock valued at $314,853,000 after acquiring an additional 2,100,000 shares in the last quarter. SBI Holdings USA Inc. bought a new stake in shares of Circle Internet Group during the 2nd quarter valued at about $101,084,820. IDG China Capital Fund GP III Associates Ltd. bought a new stake in shares of Circle Internet Group during the 4th quarter valued at about $103,701,000. Finally, Clear Street Group Inc. grew its holdings in shares of Circle Internet Group by 154.1% during the fourth quarter. Clear Street Group Inc. now owns 1,605,509 shares of the company’s stock worth $127,317,000 after purchasing an additional 973,552 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have weighed in on CRCL. TD Cowen boosted their target price on shares of Circle Internet Group from $87.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, September 17th. Weiss Ratings downgraded Circle Internet Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday. Needham & Company LLC reduced their price objective on Circle Internet Group from $150.00 to $127.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Wolfe Research boosted their target price on Circle Internet Group from $50.00 to $65.00 and gave the company an “underperform” rating in a research note on Tuesday, August 25th. Finally, Canaccord Genuity Group cut their price target 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. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.