Circle Internet Group (NYSE:CRCL) Insider Sells $1,110,000.00 in Stock

Circle Internet Group, Inc. (NYSE:CRCL) insider Nikhil Chandhok sold 10,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $111.00, for a total transaction of $1,110,000.00. Following the completion of the sale, the insider owned 532,745 shares in the company, valued at $59,134,695. This represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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, April 21st, Nikhil Chandhok sold 10,000 shares of Circle Internet Group stock. The stock was sold at an average price of $104.00, for a total transaction of $1,040,000.00.
• On Monday, March 23rd, Nikhil Chandhok sold 10,000 shares of Circle Internet Group stock. The shares were sold at an average price of $123.08, for a total transaction of $1,230,800.00.
• On Thursday, February 26th, Nikhil Chandhok sold 20,000 shares of Circle Internet Group stock. The shares were sold at an average price of $90.00, for a total transaction of $1,800,000.00.

Circle Internet Group Price Performance

NYSE CRCL traded down $1.81 on Friday, hitting $113.07. The stock had a trading volume of 9,623,247 shares, compared to its average volume of 15,513,280. The business’s fifty day moving average price is $107.12 and its 200 day moving average price is $89.31. The stock has a market cap of $27.91 billion and a price-to-earnings ratio of -35.33. Circle Internet Group, Inc. has a 52-week low of $49.90 and a 52-week high of $298.99.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.06). The business had revenue of $694.13 million for the quarter. Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Circle Internet Group, Inc. will post 1.05 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. CloudAlpha Capital Management Limited Hong Kong boosted its holdings in shares of Circle Internet Group by 181.1% in the 3rd quarter. CloudAlpha Capital Management Limited Hong Kong now owns 283,964 shares of the company’s stock valued at $37,648,000 after acquiring an additional 182,954 shares during the last quarter. New York State Common Retirement Fund acquired a new stake in shares of Circle Internet Group in the third quarter worth $3,248,000. Vanguard Group Inc. raised its holdings in shares of Circle Internet Group by 61.6% during the third quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock worth $739,624,000 after purchasing an additional 2,126,072 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Circle Internet Group by 98.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,575,684 shares of the company’s stock valued at $204,252,000 after purchasing an additional 1,276,310 shares during the period. Finally, CenterBook Partners LP lifted its position in Circle Internet Group by 1,069.9% during the third quarter. CenterBook Partners LP now owns 66,357 shares of the company’s stock valued at $8,798,000 after purchasing an additional 60,685 shares during the period.

Analyst Ratings Changes

Several equities research analysts have weighed in on CRCL shares. JPMorgan Chase & Co. lowered their price target on Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, February 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Circle Internet Group in a research report on Monday, April 20th. HC Wainwright upgraded shares of Circle Internet Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $150.00 in a research note on Monday. Wells Fargo & Company boosted their target price on shares of Circle Internet Group from $111.00 to $142.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Finally, Freedom Capital upgraded shares of Circle Internet Group to a “hold” rating in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Circle Internet Group currently has a consensus rating of “Hold” and an average target price of $137.12.

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 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.