Insider Selling: Circle Internet Group (NYSE:CRCL) Insider Sells $2,677,266.40 in Stock

Circle Internet Group, Inc. (NYSE:CRCL) insider Nikhil Chandhok sold 26,666 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $100.40, for a total transaction of $2,677,266.40. Following the completion of the sale, the insider directly owned 722,480 shares in the company, valued at $72,536,992. This represents a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 Monday, August 10th, Nikhil Chandhok sold 26,666 shares of Circle Internet Group stock. The stock was sold at an average price of $67.15, for a total transaction of $1,790,621.90.
• 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 transaction 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 transaction of $35,442,266.69.

Circle Internet Group Stock Performance

Shares of Circle Internet Group stock opened at $90.65 on Friday. The firm has a market cap of $23.01 billion, a PE ratio of 62.09 and a beta of 0.59. The firm’s 50-day simple moving average is $75.22 and its 200-day simple moving average is $89.92. Circle Internet Group, Inc. has a 1 year low of $49.90 and a 1 year high of $159.47.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.08). The firm had revenue of $701.32 million during the quarter. Circle Internet Group had a return on equity of 13.58% and a net margin of 15.53%.The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the business earned ($4.48) EPS. On average, equities analysts predict that Circle Internet Group, Inc. will post 1.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CRCL shares. TD Cowen lifted their target price on Circle Internet Group from $82.00 to $87.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. The Goldman Sachs Group reissued an “underperform” rating on shares of Circle Internet Group in a research report on Wednesday. Canaccord Genuity Group reduced their price objective on Circle Internet Group from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Wolfe Research lifted their price objective on shares of Circle Internet Group from $50.00 to $65.00 and gave the stock an “underperform” rating in a report on Tuesday, August 25th. Finally, Keefe, Bruyette & Woods started coverage on shares of Circle Internet Group in a research note on Tuesday. They set a “market perform” rating and a $105.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $99.67.

Hedge Funds Weigh In On Circle Internet Group

Several institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC lifted its holdings in shares of Circle Internet Group by 15.2% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 4,067 shares of the company’s stock worth $255,000 after purchasing an additional 538 shares during the last quarter. IFP Advisors Inc grew its stake in Circle Internet Group by 229.0% during the 2nd quarter. IFP Advisors Inc now owns 3,204 shares of the company’s stock worth $201,000 after buying an additional 2,230 shares during the last quarter. Allworth Financial LP increased its position in Circle Internet Group by 9.1% in the second quarter. Allworth Financial LP now owns 1,267 shares of the company’s stock worth $79,000 after buying an additional 106 shares during the period. Arizona State Retirement System acquired a new stake in Circle Internet Group in the second quarter worth $2,667,000. Finally, Nykredit A S bought a new stake in Circle Internet Group in the second quarter valued at $1,773,000.

About Circle Internet Group

Circle Internet Group, Inc is a global financial technology company focused on digital currency and blockchain infrastructure. The company is best known as the issuer of USD Coin (USDC), a dollar-denominated stablecoin designed to maintain a consistent value and facilitate digital payments, trading, and transfers on blockchain networks. Circle also issues EURC, a euro-denominated stablecoin.

Circle provides products and services for businesses, financial institutions, developers, and digital-asset platforms.