Insider Selling: Circle Internet Group (NYSE:CRCL) Insider Sells 10,000 Shares of Stock

Circle Internet Group, Inc. (NYSE:CRCL) insider Nikhil Chandhok sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $90.00, for a total value of $900,000.00. Following the completion of the sale, the insider owned 474,974 shares of the company’s stock, valued at $42,747,660. This represents a 2.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Nikhil Chandhok also recently made the following trade(s):

• On Friday, December 12th, Nikhil Chandhok sold 10,000 shares of Circle Internet Group stock. The stock was sold at an average price of $90.00, for a total transaction of $900,000.00.
• On Monday, December 1st, Nikhil Chandhok sold 100,000 shares of Circle Internet Group stock. The stock was sold at an average price of $77.08, for a total transaction of $7,708,000.00.

Circle Internet Group Stock Performance

Shares of CRCL traded down $4.41 during trading hours on Tuesday, hitting $82.60. The stock had a trading volume of 9,334,052 shares, compared to its average volume of 18,173,600. Circle Internet Group, Inc. has a 52 week low of $64.00 and a 52 week high of $298.99. The company’s fifty day moving average price is $98.14.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.44. The company had revenue of $739.76 million for the quarter. The business’s quarterly revenue was up 65.9% on a year-over-year basis.

Hedge Funds Weigh In On Circle Internet Group

Several hedge funds and other institutional investors have recently made changes to their positions in CRCL. Larson Financial Group LLC increased its stake in shares of Circle Internet Group by 3,800.0% during 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 last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in Circle Internet Group during the third quarter worth about $27,000. EverSource Wealth Advisors LLC acquired a new position in Circle Internet Group during the second quarter worth approximately $27,000. Highline Wealth Partners LLC bought a new stake in Circle Internet Group in the third quarter valued at approximately $32,000. Finally, Montag A & Associates Inc. acquired a new stake in shares of Circle Internet Group in the third quarter valued at approximately $33,000.

Wall Street Analyst Weigh In

CRCL has been the topic of several analyst reports. William Blair reissued an “outperform” rating on shares of Circle Internet Group in a research note on Wednesday, November 12th. HC Wainwright assumed coverage on shares of Circle Internet Group in a research note on Friday. They set a “neutral” rating and a $85.00 price objective on the stock. JPMorgan Chase & Co. raised shares of Circle Internet Group from an “underweight” rating to an “overweight” rating and upped their target price for the company from $94.00 to $100.00 in a research note on Thursday, November 13th. JMP Securities started coverage on shares of Circle Internet Group in a report on Tuesday, September 30th. They issued a “market perform” rating for the company. Finally, Rothschild Redb upgraded Circle Internet Group to a “hold” rating in a report on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $141.18.

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 USD Coin (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.