Nikhil Chandhok Sells 26,666 Shares of Circle Internet Group (NYSE:CRCL) Stock

Circle Internet Group, Inc. (NYSE:CRCL) insider Nikhil Chandhok sold 26,666 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $100.40, for a total transaction of $2,677,266.40. Following the transaction, the insider directly owned 722,480 shares of the company’s stock, valued at $72,536,992. This represents a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 shares were 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 Price Performance

NYSE CRCL opened at $90.61 on Friday. Circle Internet Group, Inc. has a 1 year low of $49.90 and a 1 year high of $159.47. The company has a market capitalization of $23.00 billion, a PE ratio of 62.06 and a beta of 0.59. The company has a fifty day moving average of $74.69 and a 200 day moving average of $89.92.

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). The company had revenue of $701.32 million for the quarter. Circle Internet Group had a return on equity of 13.58% and a net margin of 15.53%.The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($4.48) earnings per share. Research analysts expect that Circle Internet Group, Inc. will post 1.05 earnings per share for the current year.

Wall Street Analyst Weigh In

CRCL has been the topic of a number of analyst reports. Robert W. Baird dropped their price objective on shares of Circle Internet Group from $138.00 to $100.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Wall Street Zen downgraded shares of Circle Internet Group from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Morgan Stanley dropped their price target on shares of Circle Internet Group from $38.00 to $37.00 and set an “underweight” rating on the stock in a research report on Thursday, August 6th. Susquehanna lifted their price objective on shares of Circle Internet Group from $69.00 to $92.00 and gave the company a “neutral” rating in a report on Monday, August 24th. Finally, Wolfe Research upped their price objective on shares of Circle Internet Group from $50.00 to $65.00 and gave the stock 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 given a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $99.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. General Catalyst Group Management LLC purchased a new stake in Circle Internet Group in the 2nd quarter worth $3,647,694,000. California State Teachers Retirement System increased its stake in shares of Circle Internet Group by 222,662.5% during the second quarter. California State Teachers Retirement System now owns 13,871,418 shares of the company’s stock worth $868,767,000 after purchasing an additional 13,865,191 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Circle Internet Group by 23.8% during the fourth quarter. Marshall Wace LLP now owns 9,978,729 shares of the company’s stock worth $791,313,000 after purchasing an additional 1,919,205 shares in the last quarter. IDG Accel China Capital II Associates L.P. acquired a new position in shares of Circle Internet Group during the 4th quarter worth about $554,792,000. Finally, Accel XI Associates L.L.C. acquired a new position in shares of Circle Internet Group during the 4th quarter worth about $513,844,000.

Circle Internet Group Company Profile

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.