Circle Internet Group (NYSE:CRCL) Insider Sells $35,442,266.69 in Stock

Circle Internet Group, Inc. (NYSE:CRCL) insider Nikhil Chandhok sold 489,737 shares of Circle Internet Group stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $72.37, for a total transaction of $35,442,266.69. Following the sale, the insider directly owned 521,809 shares of the company’s stock, valued at $37,763,317.33. This represents a 48.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nikhil Chandhok also recently made the following trade(s):

• On Monday, June 8th, Nikhil Chandhok sold 26,666 shares of Circle Internet Group stock. The shares were sold at an average price of $83.75, for a total value of $2,233,277.50.
• On Thursday, May 21st, Nikhil Chandhok sold 10,000 shares of Circle Internet Group stock. The shares were sold at an average price of $111.00, for a total value of $1,110,000.00.
• On Tuesday, April 21st, Nikhil Chandhok sold 10,000 shares of Circle Internet Group stock. The stock was sold at an average price of $104.00, for a total value of $1,040,000.00.

Circle Internet Group Stock Down 0.0%

Shares of CRCL stock opened at $73.55 on Monday. The business has a 50-day moving average price of $98.51 and a two-hundred day moving average price of $89.82. Circle Internet Group, Inc. has a 12-month low of $49.90 and a 12-month high of $262.97. The firm has a market cap of $18.28 billion and a P/E ratio of -22.98.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.06). The firm had revenue of $694.13 million for the quarter. Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, research analysts expect that Circle Internet Group, Inc. will post 1.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CRCL has been the topic of a number of recent research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Circle Internet Group in a research report on Monday, April 20th. HC Wainwright upgraded shares of Circle Internet Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $150.00 in a report on Monday, May 18th. Morgan Stanley upped their price objective on shares of Circle Internet Group from $80.00 to $106.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 19th. Robert W. Baird raised their price objective on Circle Internet Group from $110.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday, March 17th. Finally, Wall Street Zen downgraded Circle Internet Group from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Circle Internet Group has a consensus rating of “Hold” and a consensus target price of $134.18.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. General Catalyst Group Management LLC purchased a new stake in Circle Internet Group during the 2nd quarter valued at $3,647,694,000. Marshall Wace LLP increased its position in shares of Circle Internet Group by 23.8% in the fourth quarter. Marshall Wace LLP now owns 9,978,729 shares of the company’s stock valued at $791,313,000 after acquiring an additional 1,919,205 shares during the period. IDG Accel China Capital II Associates L.P. purchased a new position in shares of Circle Internet Group in the fourth quarter valued at about $554,792,000. Accel XI Associates L.L.C. bought a new position in shares of Circle Internet Group during the fourth quarter valued at about $513,844,000. Finally, Vanguard Group Inc. raised its stake in shares of Circle Internet Group by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 5,653,110 shares of the company’s stock valued at $448,292,000 after acquiring an additional 74,414 shares during the last quarter.

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.