Circle Internet Group (NYSE:CRCL) Hits New 52-Week Low – Time to Sell?

Circle Internet Group, Inc. (NYSE:CRCL)’s share price reached a new 52-week low on Thursday . The stock traded as low as $51.52 and last traded at $54.90, with a volume of 14427096 shares. The stock had previously closed at $56.16.

Analyst Ratings Changes

Several analysts have recently issued reports on CRCL shares. Wells Fargo & Company reduced their price objective on Circle Internet Group from $160.00 to $128.00 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. Weiss Ratings restated a “sell (d)” rating on shares of Circle Internet Group in a report on Wednesday, January 21st. Robert W. Baird raised shares of Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 14th. Monness Crespi & Hardt assumed coverage on shares of Circle Internet Group in a report on Monday, November 10th. They set a “buy” rating and a $150.00 price target for the company. Finally, Wolfe Research began coverage on shares of Circle Internet Group in a research note on Tuesday, December 2nd. They set an “underperform” rating and a $60.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $132.35.

Circle Internet Group Stock Up 13.9%

The business’s fifty day moving average is $77.57 and its 200-day moving average is $112.03. The stock has a market capitalization of $13.47 billion and a PE ratio of -24.98.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings results on Wednesday, November 12th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.44. The company had revenue of $739.76 million during the quarter. The company’s revenue for the quarter was up 65.9% on a year-over-year basis.

Insider Activity

In other news, CEO Jeremy Allaire sold 7,055 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $90.07, for a total transaction of $635,443.85. Following the completion of the sale, the chief executive officer owned 70,517 shares in the company, valued at approximately $6,351,466.19. The trade was a 9.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nikhil Chandhok sold 10,000 shares of the stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $90.00, for a total transaction of $900,000.00. Following the sale, the insider directly owned 474,974 shares of the company’s stock, valued at approximately $42,747,660. This trade represents a 2.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 723,616 shares of company stock valued at $58,631,542 in the last 90 days.

Institutional Investors Weigh In On Circle Internet Group

Several institutional investors have recently bought and sold shares of CRCL. General Catalyst Group Management LLC purchased a new position in shares of Circle Internet Group in the 2nd quarter valued at $3,647,694,000. Marshall Wace LLP acquired a new position in shares of Circle Internet Group during the second quarter worth about $1,547,214,000. Accel XI Associates L.L.C. acquired a new stake in shares of Circle Internet Group in the fourth quarter valued at about $513,844,000. ARK Investment Management LLC purchased a new stake in shares of Circle Internet Group during the 2nd quarter valued at about $530,165,000. Finally, Vanguard Group Inc. lifted its position in Circle Internet Group by 61.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock worth $739,624,000 after acquiring an additional 2,126,072 shares in the last quarter.

About Circle Internet Group

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.