Circle Internet Group (NYSE:CRCL) Insider Sells $2,677,266.40 in Stock

Circle Internet Group, Inc. (NYSE:CRCL) insider Nikhil Chandhok sold 26,666 shares of the stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $100.40, for a total transaction of $2,677,266.40. Following the sale, the insider directly owned 722,480 shares in the company, valued at approximately $72,536,992. This represents a 3.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 Monday, August 10th, Nikhil Chandhok sold 26,666 shares of Circle Internet Group stock. The stock was sold at an average price of $67.15, for a total transaction of $1,790,621.90.
• On Wednesday, July 8th, Nikhil Chandhok sold 26,666 shares of Circle Internet Group stock. The stock was sold at an average price of $63.90, for a total transaction of $1,703,957.40.
• On Wednesday, June 24th, Nikhil Chandhok sold 489,737 shares of Circle Internet Group stock. The shares were sold at an average price of $72.37, for a total transaction of $35,442,266.69.

Circle Internet Group Trading Down 3.4%

Shares of CRCL traded down $3.29 during mid-day trading on Wednesday, hitting $92.89. 9,236,136 shares of the company traded hands, compared to its average volume of 14,845,469. The stock has a market capitalization of $23.58 billion, a price-to-earnings ratio of 63.62 and a beta of 0.59. The business has a 50-day moving average of $73.56 and a 200 day moving average of $89.51. Circle Internet Group, Inc. has a one year low of $49.90 and a one year high of $159.47.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.08). The firm 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%.The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the company posted ($4.48) earnings per share. As a group, analysts anticipate that Circle Internet Group, Inc. will post 1.05 earnings per share for the current year.

Institutional Trading of Circle Internet Group

A number of large investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC lifted its stake in Circle Internet Group by 15.2% in the second quarter. Integrated Wealth Concepts LLC now owns 4,067 shares of the company’s stock valued at $255,000 after buying an additional 538 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of Circle Internet Group by 229.0% in the second quarter. IFP Advisors Inc now owns 3,204 shares of the company’s stock valued at $201,000 after buying an additional 2,230 shares during the period. Allworth Financial LP increased its position in shares of Circle Internet Group by 9.1% during the second quarter. Allworth Financial LP now owns 1,267 shares of the company’s stock worth $79,000 after acquiring an additional 106 shares in the last quarter. Arizona State Retirement System bought a new stake in shares of Circle Internet Group during the second quarter worth $2,667,000. Finally, Nykredit A S acquired a new stake in shares of Circle Internet Group during the second quarter worth $1,773,000.

Analyst Ratings Changes

Several analysts have weighed in on the company. Susquehanna boosted their price objective on Circle Internet Group from $69.00 to $92.00 and gave the stock a “neutral” rating in a report on Monday, August 24th. Raymond James Financial started coverage on shares of Circle Internet Group in a research note on Tuesday, July 21st. They issued a “market perform” rating on the stock. William Blair reiterated an “outperform” rating on shares of Circle Internet Group in a research report on Wednesday, August 5th. Wolfe Research boosted their price target on shares of Circle Internet Group from $50.00 to $65.00 and gave the stock an “underperform” rating in a research note on Tuesday, August 25th. Finally, Keefe, Bruyette & Woods began coverage on shares of Circle Internet Group in a research report on Tuesday. They set a “market perform” rating and a $105.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $99.67.

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.