Circle Internet Group (NYSE:CRCL) Trading Down 4.6% After Insider Selling

Circle Internet Group, Inc. (NYSE:CRCL)’s share price was down 4.6% during trading on Wednesday following insider selling activity. The stock traded as low as $79.08 and last traded at $79.2060. Approximately 10,689,034 shares changed hands during trading, a decline of 42% from the average daily volume of 18,381,449 shares. The stock had previously closed at $83.00.

Specifically, Director Patrick Sean Neville sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $90.00, for a total value of $450,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patrick Sean Neville sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $90.00, for a total value of $2,700,000.00. The SEC filing for this sale provides additional information. In other news, insider Nikhil Chandhok sold 10,000 shares of Circle Internet Group stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $90.00, for a total value of $900,000.00. Following the transaction, the insider owned 474,974 shares of the company’s stock, valued at $42,747,660. This trade represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CRCL shares. Needham & Company LLC decreased their price objective on shares of Circle Internet Group from $250.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Circle Internet Group from $147.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, November 13th. Baird R W upgraded shares of Circle Internet Group from a “hold” rating to a “strong-buy” rating in a report on Friday, November 14th. Oppenheimer began coverage on Circle Internet Group in a research report on Friday, September 12th. They issued a “market perform” rating on the stock. Finally, JMP Securities began coverage on Circle Internet Group in a research note on Tuesday, September 30th. They issued a “market perform” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $144.69.

Circle Internet Group Stock Performance

The company’s 50 day moving average price is $100.13.

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, beating the consensus estimate of $0.20 by $0.44. The firm had revenue of $739.76 million for the quarter. The business’s revenue for the quarter was up 65.9% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CRCL. Brand Asset Management Group Inc. bought a new position in Circle Internet Group in the second quarter worth $272,000. Westbourne Investments Inc. bought a new stake in Circle Internet Group in the 2nd quarter valued at $204,000. Baader Bank Aktiengesellschaft acquired a new position in shares of Circle Internet Group in the 2nd quarter valued at $1,083,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Circle Internet Group during the 2nd quarter worth about $673,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of Circle Internet Group during the 2nd quarter worth about $18,397,000.

About Circle Internet Group

Founded in 2013, Circle’s mission is to raise global economic prosperity through the frictionless exchange of value. We intend to connect the world more deeply by building a new global economic system on the foundation of the internet, and to facilitate the creation of a world where everyone, everywhere can share value as easily as we can today share information, content, and communications.