Circle Internet Group (NYSE:CRCL) Insider Sells $1,790,621.90 in Stock

Circle Internet Group, Inc. (NYSE:CRCL) insider Nikhil Chandhok sold 26,666 shares of Circle Internet Group stock in a transaction on Monday, August 10th. The shares were sold at an average price of $67.15, for a total value of $1,790,621.90. Following the completion of the transaction, the insider owned 717,920 shares in the company, valued at $48,208,328. This represents a 3.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 Wednesday, July 8th, Nikhil Chandhok sold 26,666 shares of Circle Internet Group stock. The stock was sold at an average price of $63.90, for a total value of $1,703,957.40.
• On Wednesday, June 24th, Nikhil Chandhok sold 489,737 shares of Circle Internet Group stock. The stock was sold at an average price of $72.37, for a total value of $35,442,266.69.
• 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.

Circle Internet Group Stock Performance

Shares of Circle Internet Group stock opened at $71.79 on Friday. The company has a market capitalization of $18.23 billion, a PE ratio of 49.17 and a beta of 0.23. The company has a 50-day simple moving average of $69.34 and a two-hundred day simple moving average of $85.92. Circle Internet Group, Inc. has a one year low of $49.90 and a one year high of $159.47.

Circle Internet Group (NYSE:CRCL) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.08). Circle Internet Group had a net margin of 15.53% and a return on equity of 13.58%. The firm had revenue of $701.32 million for the quarter. During the same period last year, the firm posted ($4.48) earnings per share. The business’s revenue was up 6.6% on a year-over-year basis. On average, equities analysts predict that Circle Internet Group, Inc. will post 1.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Circle Internet Group

Several hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC acquired a new stake in Circle Internet Group during the 2nd quarter worth about $27,000. Larson Financial Group LLC increased its holdings in shares of Circle Internet Group by 3,800.0% in the third quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after purchasing an additional 190 shares during the period. National Bank of Canada FI acquired a new position in shares of Circle Internet Group in the third quarter valued at about $37,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of Circle Internet Group in the third quarter worth about $39,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new position in shares of Circle Internet Group in the fourth quarter worth about $25,000.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CRCL. Mizuho set a $45.00 target price on shares of Circle Internet Group and gave the company a “neutral” rating in a research note on Friday, July 31st. Morgan Stanley decreased their price target on Circle Internet Group from $38.00 to $37.00 and set an “underweight” rating for the company in a research note on Thursday, August 6th. HC Wainwright lowered their price target on Circle Internet Group from $115.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Needham & Company LLC dropped their price target on Circle Internet Group from $150.00 to $127.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Finally, Raymond James Financial started coverage on shares of Circle Internet Group in a research report on Tuesday, July 21st. They issued a “market perform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Circle Internet Group has a consensus rating of “Hold” and an average price target of $97.12.

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.