Circle Internet Group (NYSE:CRCL) Hits New 1-Year Low – Time to Sell?

Circle Internet Group, Inc. (NYSE:CRCL) shares reached a new 52-week low on Friday . The stock traded as low as $63.02 and last traded at $63.2290, with a volume of 7020168 shares trading hands. The stock had previously closed at $67.55.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Sanford C. Bernstein set a $190.00 price objective on Circle Internet Group in a research note on Tuesday, January 6th. William Blair reissued an “outperform” rating on shares of Circle Internet Group in a research report on Wednesday, November 12th. The Goldman Sachs Group increased their price target on Circle Internet Group from $79.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, January 5th. Redburn Partners set a $136.00 target price on Circle Internet Group in a research report on Friday, October 3rd. Finally, JPMorgan Chase & Co. upgraded shares of Circle Internet Group from an “underweight” rating to an “overweight” rating and boosted their price objective for the stock from $94.00 to $100.00 in a research note on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $136.47.

Circle Internet Group Price Performance

The stock has a market capitalization of $14.66 billion and a price-to-earnings ratio of -27.40. The stock has a 50 day moving average price of $79.56 and a 200-day moving average price of $118.73.

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

Insider Transactions at Circle Internet Group

In other Circle Internet Group news, CFO Jeremy Fox-Geen sold 23,830 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $90.00, for a total transaction of $2,144,700.00. Following the transaction, the chief financial officer directly owned 282,173 shares in the company, valued at $25,395,570. This represents a 7.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Tamara L. Schulz sold 4,438 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $85.19, for a total value of $378,073.22. Following the completion of the sale, the chief accounting officer owned 82,679 shares in the company, valued at $7,043,424.01. This represents a 5.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 722,089 shares of company stock worth $58,540,227 in the last three months.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bartlett & CO. Wealth Management LLC purchased a new stake in Circle Internet Group during the 4th quarter worth about $25,000. Larson Financial Group LLC raised its holdings in Circle Internet Group by 3,800.0% in the third quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after acquiring an additional 190 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in Circle Internet Group in the third quarter worth approximately $27,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Circle Internet Group in the 2nd quarter valued at approximately $27,000. Finally, Bellevue Asset Management LLC purchased a new position in Circle Internet Group in the fourth quarter valued at $29,000.

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 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.