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 stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $66.09, for a total value of $1,762,488.12. Following the transaction, the insider owned 708,181 shares of the company’s stock, valued at $46,803,682.29. This represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 shares were 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 traded down $2.75 during mid-day trading on Tuesday, reaching $64.81. 8,616,585 shares of the company’s stock traded hands, compared to its average volume of 14,212,983. The company has a market cap of $16.45 billion, a price-to-earnings ratio of 39.04 and a beta of 0.84. The stock has a 50 day moving average of $85.06 and a two-hundred day moving average of $85.61. Circle Internet Group, Inc. has a 12-month low of $49.90 and a 12-month high of $140.00.

Circle Internet Group (NYSE:CRCL) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.84 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 13.52%. The business had revenue of $864.89 million during the quarter. During the same quarter last year, the business earned $0.64 EPS. Circle Internet Group’s revenue for the quarter was up 16.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Circle Internet Group, Inc. will post 1.20 earnings per share for the current year.

Institutional Trading of Circle Internet Group

Institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC boosted its position in shares of Circle Internet Group by 11.4% during the third quarter. Global Retirement Partners LLC now owns 2,401 shares of the company’s stock valued at $197,000 after buying an additional 245 shares during the period. Cibc World Market Inc. lifted its stake in shares of Circle Internet Group by 12.8% during the 3rd quarter. Cibc World Market Inc. now owns 7,358 shares of the company’s stock worth $605,000 after acquiring an additional 837 shares during the last quarter. Banco Santander S.A. lifted its stake in shares of Circle Internet Group by 9.6% during the 3rd quarter. Banco Santander S.A. now owns 26,079 shares of the company’s stock worth $2,143,000 after acquiring an additional 2,285 shares during the last quarter. Western Wealth Management LLC bought a new stake in shares of Circle Internet Group during the 3rd quarter worth approximately $350,000. Finally, Intech Investment Management LLC boosted its holdings in Circle Internet Group by 75.9% during the 3rd quarter. Intech Investment Management LLC now owns 59,170 shares of the company’s stock valued at $4,862,000 after acquiring an additional 25,523 shares during the period.

Wall Street Analyst Weigh In

Several research firms recently commented on CRCL. Mizuho set a $46.00 price target on Circle Internet Group in a research report on Thursday, November 5th. UBS Group cut Circle Internet Group to an “underweight” rating in a report on Thursday, November 5th. Keefe, Bruyette & Woods cut their target price on Circle Internet Group from $105.00 to $90.00 and set a “market perform” rating on the stock in a research report on Thursday, November 5th. Barclays lowered Circle Internet Group to a “positive” rating in a report on Thursday, November 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded Circle Internet Group from a “hold” rating to a “buy” rating in a research report on Thursday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.