Circle Internet Group (NYSE:CRCL) Stock Price Down 9.3% – Time to Sell?

Circle Internet Group, Inc. (NYSE:CRCL) shares fell 9.3% on Monday . The stock traded as low as $74.73 and last traded at $75.7070. 14,870,801 shares changed hands during trading, a decline of 19% from the average session volume of 18,463,523 shares. The stock had previously closed at $83.47.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Oppenheimer started coverage on shares of Circle Internet Group in a report on Friday, September 12th. They issued a “market perform” rating for the company. Wells Fargo & Company reduced their target price on Circle Internet Group from $160.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, November 13th. Wall Street Zen downgraded Circle Internet Group from a “hold” rating to a “sell” rating in a report on Saturday. Mizuho dropped their price objective on Circle Internet Group from $84.00 to $70.00 and set an “underperform” rating on the stock in a research report on Friday, November 14th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Circle Internet Group from $147.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, November 13th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Circle Internet Group presently has an average rating of “Hold” and an average price target of $144.69.

Circle Internet Group Price Performance

The firm has a fifty day simple moving average of $105.72.

Circle Internet Group (NYSE:CRCL) last announced its earnings results on Wednesday, November 12th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.44. The firm had revenue of $739.76 million during the quarter. The business’s revenue was up 65.9% compared to the same quarter last year.

Insider Buying and Selling at Circle Internet Group

In other Circle Internet Group news, Director Patrick Sean Neville sold 33,569 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $85.05, for a total value of $2,855,043.45. Following the transaction, the director directly owned 33,568 shares in the company, valued at approximately $2,854,958.40. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nikhil Chandhok sold 100,000 shares of Circle Internet Group stock in a transaction on Monday, December 1st. The stock was sold at an average price of $77.08, for a total transaction of $7,708,000.00. Following the transaction, the insider owned 493,639 shares in the company, valued at $38,049,694.12. This represents a 16.85% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 618,847 shares of company stock worth $49,268,665.

Hedge Funds Weigh In On Circle Internet Group

A number of institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC purchased a new position in Circle Internet Group during the second quarter valued at $27,000. PNC Financial Services Group Inc. raised its stake in shares of Circle Internet Group by 14.9% in the third quarter. PNC Financial Services Group Inc. now owns 1,164 shares of the company’s stock worth $154,000 after buying an additional 151 shares during the period. North Star Investment Management Corp. purchased a new position in shares of Circle Internet Group during the 2nd quarter valued at about $34,000. Larson Financial Group LLC lifted its position in shares of Circle Internet Group by 3,800.0% during the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after buying an additional 190 shares in the last quarter. Finally, Hennessy Advisors Inc. bought a new position in shares of Circle Internet Group during the 2nd quarter valued at approximately $36,000.

About Circle Internet Group

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.