Circle Internet Group (NYSE:CRCL) Insider Sells $1,800,000.00 in Stock

Circle Internet Group, Inc. (NYSE:CRCL) insider Nikhil Chandhok sold 20,000 shares of Circle Internet Group stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $90.00, for a total value of $1,800,000.00. Following the completion of the transaction, the insider owned 425,295 shares of the company’s stock, valued at approximately $38,276,550. This represents a 4.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, December 22nd, Nikhil Chandhok sold 10,000 shares of Circle Internet Group stock. The shares were sold at an average price of $90.00, for a total transaction of $900,000.00.
• On Friday, December 12th, Nikhil Chandhok sold 10,000 shares of Circle Internet Group stock. The shares were sold at an average price of $90.00, for a total value of $900,000.00.

Circle Internet Group Stock Performance

CRCL stock traded up $12.75 during midday trading on Monday, reaching $96.19. The company’s stock had a trading volume of 32,585,178 shares, compared to its average volume of 13,431,398. The firm has a market capitalization of $22.65 billion and a price-to-earnings ratio of -42.00. Circle Internet Group, Inc. has a 1 year low of $49.90 and a 1 year high of $298.99. The stock has a fifty day simple moving average of $72.17 and a two-hundred day simple moving average of $99.61.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.25 by $0.18. The firm had revenue of $770.23 million for the quarter. The business’s revenue for the quarter was up 76.9% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Needham & Company LLC decreased their price target on Circle Internet Group from $190.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday. Mizuho set a $77.00 price target on shares of Circle Internet Group and gave the company a “neutral” rating in a report on Wednesday, January 28th. Zacks Research cut Circle Internet Group from a “hold” rating to a “strong sell” rating in a report on Monday, February 16th. William Blair reiterated an “outperform” rating on shares of Circle Internet Group in a research report on Wednesday. Finally, Canaccord Genuity Group lowered their price target on shares of Circle Internet Group from $247.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Circle Internet Group has an average rating of “Hold” and a consensus price target of $122.12.

Institutional Investors Weigh In On Circle Internet Group

Several large investors have recently added to or reduced their stakes in CRCL. General Catalyst Group Management LLC purchased a new position in Circle Internet Group in the 2nd quarter valued at approximately $3,647,694,000. Marshall Wace LLP raised its position in Circle Internet Group by 23.8% in the 4th quarter. Marshall Wace LLP now owns 9,978,729 shares of the company’s stock valued at $791,313,000 after purchasing an additional 1,919,205 shares in the last quarter. IDG Accel China Capital II Associates L.P. purchased a new position in shares of Circle Internet Group in the 4th quarter valued at about $554,792,000. Accel XI Associates L.L.C. acquired a new position in shares of Circle Internet Group during the fourth quarter worth about $513,844,000. Finally, Vanguard Group Inc. increased its stake in shares of Circle Internet Group by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 5,653,110 shares of the company’s stock worth $448,292,000 after buying an additional 74,414 shares during the period.

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.