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

Circle Internet Group, Inc. (NYSE:CRCL)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $75.96, but opened at $72.25. Circle Internet Group shares last traded at $69.6230, with a volume of 2,698,696 shares.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. William Blair reiterated an “outperform” rating on shares of Circle Internet Group in a report on Thursday, June 11th. Mizuho reduced their price target on shares of Circle Internet Group from $135.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, June 5th. Susquehanna initiated coverage on Circle Internet Group in a research report on Wednesday. They issued a “neutral” rating and a $69.00 target price for the company. Clear Str upgraded shares of Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 16th. Finally, Wells Fargo & Company raised their price objective on Circle Internet Group from $111.00 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $116.88.

Circle Internet Group Price Performance

The company has a fifty day moving average price of $96.14 and a 200 day moving average price of $89.36. The company has a market capitalization of $15.46 billion and a P/E ratio of -19.44.

Circle Internet Group (NYSE:CRCL) last posted 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 during the quarter. Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The company’s revenue was up 20.0% compared to the same quarter last year. On average, equities research analysts predict that Circle Internet Group, Inc. will post 1.02 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Rajeev V. Date sold 1,273 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $85.00, for a total value of $108,205.00. Following the completion of the sale, the director directly owned 154,346 shares of the company’s stock, valued at approximately $13,119,410. This represents a 0.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Heath Tarbert sold 39,240 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $81.47, for a total value of $3,196,882.80. Following the completion of the sale, the president owned 502,558 shares of the company’s stock, valued at $40,943,400.26. This trade represents a 7.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,848,089 shares of company stock worth $149,679,825 over the last ninety days. 10.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Circle Internet Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Bartlett & CO. Wealth Management LLC bought a new stake in shares of Circle Internet Group during the 4th quarter worth $25,000. Larson Financial Group LLC increased its position in Circle Internet Group by 3,800.0% in the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock worth $26,000 after purchasing an additional 190 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new position in Circle Internet Group in the second quarter worth approximately $27,000. Bellevue Asset Management LLC acquired a new position in shares of Circle Internet Group during the 4th quarter worth $29,000. Finally, Harbour Investments Inc. raised its holdings in Circle Internet Group by 170.0% during the fourth quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock valued at $30,000 after buying an additional 238 shares in the last quarter.

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 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.