Insider Selling: Circle Internet Group (NYSE:CRCL) Insider Sells 10,000 Shares of Stock

Circle Internet Group, Inc. (NYSE:CRCL) insider Nikhil Chandhok sold 10,000 shares of the firm’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $104.00, for a total value of $1,040,000.00. Following the completion of the transaction, the insider owned 536,561 shares in the company, valued at $55,802,344. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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, March 23rd, Nikhil Chandhok sold 10,000 shares of Circle Internet Group stock. The stock was sold at an average price of $123.08, for a total value of $1,230,800.00.
• On Thursday, February 26th, Nikhil Chandhok sold 20,000 shares of Circle Internet Group stock. The stock was sold at an average price of $90.00, for a total value of $1,800,000.00.

Circle Internet Group Trading Down 4.2%

Shares of NYSE:CRCL traded down $4.33 during midday trading on Thursday, hitting $100.03. The company had a trading volume of 7,278,103 shares, compared to its average volume of 15,143,568. Circle Internet Group, Inc. has a 12 month low of $49.90 and a 12 month high of $298.99. The stock has a market cap of $24.69 billion and a price-to-earnings ratio of -53.78. The firm has a fifty day simple moving average of $95.79 and a 200 day simple moving average of $92.91.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.18. The company had revenue of $770.23 million during the quarter. The business’s revenue for the quarter was up 76.9% compared to the same quarter last year. Equities analysts forecast that Circle Internet Group, Inc. will post 0.84 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CRCL shares. Mizuho raised their price target on Circle Internet Group from $100.00 to $120.00 and gave the stock a “neutral” rating in a research report on Friday, March 13th. JPMorgan Chase & Co. reduced their target price on Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, February 10th. Clear Str upgraded Circle Internet Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 16th. Robert W. Baird lifted their target price on Circle Internet Group from $110.00 to $138.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Finally, Freedom Capital upgraded Circle Internet Group to a “hold” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $127.24.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Continuum Advisory LLC bought a new position in Circle Internet Group during the first quarter worth about $926,000. Janney Montgomery Scott LLC bought a new position in Circle Internet Group during the first quarter worth about $273,000. Sterling Capital Management LLC lifted its holdings in Circle Internet Group by 38.7% during the first quarter. Sterling Capital Management LLC now owns 3,345 shares of the company’s stock worth $319,000 after acquiring an additional 934 shares in the last quarter. Cambient Family Office LLC lifted its holdings in Circle Internet Group by 291.9% during the first quarter. Cambient Family Office LLC now owns 18,585 shares of the company’s stock worth $1,773,000 after acquiring an additional 13,843 shares in the last quarter. Finally, Signature Wealth Management Partners LLC bought a new position in Circle Internet Group during the first quarter worth about $257,000.

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.