Circle Internet Group (NYSE:CRCL) Insider Nikhil Chandhok Sells 26,668 Shares of Stock

Circle Internet Group, Inc. (NYSE:CRCL) insider Nikhil Chandhok sold 26,668 shares of the company’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $66.09, for a total transaction of $1,762,488.12. Following the completion of the sale, the insider directly owned 708,181 shares of the company’s stock, valued at $46,803,682.29. This trade represents a 3.63% decrease in their position. The sale was disclosed in a filing with the SEC, 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 Thursday, October 8th, Nikhil Chandhok sold 26,668 shares of Circle Internet Group stock. The stock was sold at an average price of $79.59, for a total transaction of $2,122,506.12.
• On Tuesday, September 8th, Nikhil Chandhok sold 26,666 shares of Circle Internet Group stock. The stock was sold at an average price of $100.40, for a total transaction of $2,677,266.40.

Circle Internet Group Stock Down 4.1%

Circle Internet Group stock opened at $64.81 on Wednesday. The company has a market capitalization of $16.45 billion, a PE ratio of 39.04 and a beta of 0.84. The firm has a fifty day simple moving average of $84.44 and a two-hundred day simple moving average of $85.58. Circle Internet Group, Inc. has a twelve month low of $49.90 and a twelve month high of $140.00.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.42. Circle Internet Group had a net margin of 15.27% and a return on equity of 13.10%. The business had revenue of $864.89 million during the quarter. During the same quarter in the previous year, the company earned $0.64 earnings per share. The business’s quarterly revenue was up 16.9% on a year-over-year basis. As a group, equities analysts expect that Circle Internet Group, Inc. will post 1.20 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Circle Internet Group

A number of institutional investors have recently bought and sold shares of CRCL. Public Employees Retirement System of Ohio bought a new position in shares of Circle Internet Group in the 2nd quarter worth approximately $5,539,000. Fifth Third Bancorp purchased a new position in shares of Circle Internet Group in the 1st quarter valued at approximately $7,282,000. SBI Holdings USA Inc. purchased a new position in shares of Circle Internet Group in the 2nd quarter valued at approximately $101,084,820. Handelsbanken Fonder AB purchased a new position in shares of Circle Internet Group in the 2nd quarter valued at approximately $6,804,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Circle Internet Group during the first quarter valued at approximately $21,761,000.

Analysts Set New Price Targets

CRCL has been the subject of several analyst reports. Sanford C. Bernstein restated an “outperform” rating and set a $140.00 target price on shares of Circle Internet Group in a report on Wednesday, July 29th. Weiss Ratings upgraded Circle Internet Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday. Piper Sandler raised Circle Internet Group to a “neutral” rating in a research note on Thursday, November 5th. TD Cowen lowered their price objective on Circle Internet Group from $92.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, November 5th. Finally, Raymond James Financial began coverage on Circle Internet Group in a research report on Tuesday, July 21st. They issued a “market perform” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $91.44.

About Circle Internet Group

Circle Internet Group develops digital financial infrastructure centered on stablecoins and blockchain-based payments. Its principal products include USDC, a U.S. dollar-pegged stablecoin, and EURC, a euro-pegged stablecoin. The company also provides services and software that help businesses use digital currencies for payments and financial applications. Circle Mint is a platform for eligible institutions to mint and redeem USDC and EURC. Circle also offers developer tools and infrastructure, including its Cross-Chain Transfer Protocol, which supports the movement of USDC across compatible blockchains.