Circle Internet Group (NYSE:CRCL) Shares Down 5.6% – Time to Sell?

Shares of Circle Internet Group, Inc. (NYSE:CRCL) fell 5.6% on Tuesday . The company traded as low as $88.90 and last traded at $90.2170. Approximately 3,867,991 shares traded hands during trading, a decline of 74% from the average session volume of 14,804,185 shares. The stock had previously closed at $95.55.

Wall Street Analysts Forecast Growth

CRCL has been the subject of several research analyst reports. Mizuho set a $45.00 price objective on shares of Circle Internet Group and gave the company a “neutral” rating in a research report on Friday, July 31st. Seaport Research Partners set a $100.00 price target on shares of Circle Internet Group in a research note on Monday, August 17th. Compass Point set a $62.00 price objective on shares of Circle Internet Group in a research note on Wednesday, July 15th. Wall Street Zen lowered shares of Circle Internet Group from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Finally, Wolfe Research upped their target price on Circle Internet Group from $50.00 to $65.00 and gave the company an “underperform” rating in a research report on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, thirteen have assigned a Hold rating and three have given 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 $99.35.

Circle Internet Group Trading Down 6.7%

The firm has a market cap of $22.63 billion, a price-to-earnings ratio of 61.17 and a beta of 0.22. The company has a fifty day moving average price of $70.48 and a 200-day moving average price of $87.95.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.18 earnings per share 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 company had revenue of $701.32 million for the quarter. During the same period in the prior year, the company posted ($4.48) EPS. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, research analysts forecast that Circle Internet Group, Inc. will post 1.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Circle Internet Group

In other news, Director Danita K. Ostling sold 20,000 shares of Circle Internet Group stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $61.65, for a total transaction of $1,233,000.00. Following the completion of the transaction, the director directly owned 4,608 shares of the company’s stock, valued at $284,083.20. The trade was a 81.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeremy Fox-Geen sold 45,000 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $90.00, for a total transaction of $4,050,000.00. Following the completion of the transaction, the chief financial officer owned 323,837 shares of the company’s stock, valued at approximately $29,145,330. This represents a 12.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 2,100,971 shares of company stock worth $163,146,343. 10.85% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC acquired a new stake in shares of Circle Internet Group during the 2nd quarter valued at about $27,000. Larson Financial Group LLC raised its holdings in Circle Internet Group by 3,800.0% in the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock worth $26,000 after purchasing an additional 190 shares during the period. National Bank of Canada FI acquired a new position in Circle Internet Group in the 3rd quarter worth about $37,000. Pin Oak Investment Advisors Inc. purchased a new position in Circle Internet Group during the third quarter worth approximately $39,000. Finally, WPG Advisers LLC acquired a new stake in Circle Internet Group in the first quarter valued at approximately $31,000.

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.