Circle Internet Group (NYSE:CRCL) Shares Gap Down After Insider Selling

Circle Internet Group, Inc. (NYSE:CRCL)’s stock price gapped down before the market opened on Tuesday after an insider sold shares in the company. The stock had previously closed at $72.74, but opened at $69.14. Circle Internet Group shares last traded at $68.4890, with a volume of 3,539,911 shares trading hands.

Specifically, Director Rajeev V. Date sold 127,247 shares of Circle Internet Group stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $72.29, for a total transaction of $9,198,685.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rajeev V. Date sold 20,000 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $72.22, for a total transaction of $1,444,400.00. Following the completion of the transaction, the director owned 152,328 shares in the company, valued at approximately $11,001,128.16. This trade represents a 11.61% decrease in their position. The SEC filing for this sale provides additional information. In other Circle Internet Group news, Director Rajeev V. Date sold 2,000 shares of Circle Internet Group stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $70.91, for a total transaction of $141,820.00. Following the completion of the sale, the director directly owned 15,000 shares in the company, valued at approximately $1,063,650. The trade was a 11.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Analyst Ratings Changes

Several research analysts recently issued reports on CRCL shares. Wall Street Zen raised shares of Circle Internet Group from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. JMP Securities began coverage on Circle Internet Group in a research note on Tuesday, September 30th. They set a “market perform” rating for the company. Citizens Jmp assumed coverage on Circle Internet Group in a report on Tuesday, September 30th. They issued a “market perform” rating for the company. Oppenheimer started coverage on Circle Internet Group in a research report on Friday, September 12th. They issued a “market perform” rating on the stock. Finally, Robert W. Baird cut their target price on shares of Circle Internet Group from $144.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, November 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Circle Internet Group currently has a consensus rating of “Hold” and an average target price of $150.33.

Circle Internet Group Stock Up 4.0%

The company has a 50 day moving average of $118.28.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CRCL. EverSource Wealth Advisors LLC acquired a new stake in Circle Internet Group in the 2nd quarter worth about $27,000. North Star Investment Management Corp. acquired a new position in Circle Internet Group in the 2nd quarter valued at $34,000. Larson Financial Group LLC lifted its holdings 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 valued at $26,000 after purchasing an additional 190 shares in the last quarter. Hennessy Advisors Inc. acquired a new stake in Circle Internet Group during the 2nd quarter worth $36,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Circle Internet Group during the third quarter worth $27,000.

Circle Internet Group Company Profile

Founded in 2013, Circle’s mission is to raise global economic prosperity through the frictionless exchange of value. We intend to connect the world more deeply by building a new global economic system on the foundation of the internet, and to facilitate the creation of a world where everyone, everywhere can share value as easily as we can today share information, content, and communications.