Insider Selling: Circle Internet Group (NYSE:CRCL) Insider Sells $1,230,800.00 in Stock

Circle Internet Group, Inc. (NYSE:CRCL) insider Nikhil Chandhok sold 10,000 shares of Circle Internet Group stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $123.08, for a total transaction of $1,230,800.00. Following the sale, the insider owned 540,376 shares in the company, valued at approximately $66,509,478.08. This represents a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, February 26th, Nikhil Chandhok sold 20,000 shares of Circle Internet Group stock. The shares were sold at an average price of $90.00, for a total transaction of $1,800,000.00.

Circle Internet Group Stock Performance

CRCL stock opened at $93.59 on Friday. The company has a market capitalization of $23.10 billion and a P/E ratio of -50.32. The company has a fifty day moving average price of $84.37 and a 200-day moving average price of $97.67. Circle Internet Group, Inc. has a 52-week low of $49.90 and a 52-week high of $298.99.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.18. The business had revenue of $770.23 million during the quarter. The company’s revenue was up 76.9% on a year-over-year basis.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CRCL shares. Morgan Stanley started coverage on Circle Internet Group in a research note on Monday, February 2nd. They issued an “equal weight” rating and a $66.00 price target for the company. JPMorgan Chase & Co. cut their price objective on Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 10th. Zacks Research upgraded Circle Internet Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. Canaccord Genuity Group reissued a “buy” rating and set a $160.00 target price on shares of Circle Internet Group in a research report on Wednesday. Finally, Wells Fargo & Company lowered their price target on shares of Circle Internet Group from $128.00 to $111.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $126.29.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CRCL. Bartlett & CO. Wealth Management LLC bought a new stake in Circle Internet Group in the fourth quarter worth approximately $25,000. Larson Financial Group LLC lifted its stake 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 buying an additional 190 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Circle Internet Group during the 3rd quarter worth approximately $27,000. EverSource Wealth Advisors LLC bought a new position in shares of Circle Internet Group during the 2nd quarter worth approximately $27,000. Finally, Bellevue Asset Management LLC acquired a new stake in shares of Circle Internet Group during the 4th quarter worth approximately $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 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.