Circle Internet Group (NYSE:CRCL) Stock: Insider Nikhil Chandhok Sells 26,668 Shares

Circle Internet Group, Inc. (NYSE:CRCL) insider Nikhil Chandhok sold 26,668 shares of the business’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $66.09, for a total value of $1,762,488.12. Following the transaction, the insider directly owned 708,181 shares of the company’s stock, valued at approximately $46,803,682.29. This represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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 Thursday, October 8th, Nikhil Chandhok sold 26,668 shares of Circle Internet Group stock. The stock was sold at an average price of $79.59, for a total transaction of $2,122,506.12.
• On Tuesday, September 8th, Nikhil Chandhok sold 26,666 shares of Circle Internet Group stock. The shares were sold at an average price of $100.40, for a total transaction of $2,677,266.40.

Circle Internet Group Stock Up 3.4%

Shares of NYSE:CRCL opened at $67.20 on Thursday. Circle Internet Group, Inc. has a fifty-two week low of $49.90 and a fifty-two week high of $140.00. The firm’s 50 day moving average price is $83.99 and its 200 day moving average price is $85.56. The stock has a market cap of $17.06 billion, a price-to-earnings ratio of 40.48 and a beta of 0.84.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.42 by $0.42. Circle Internet Group had a net margin of 15.27% and a return on equity of 13.10%. The company had revenue of $864.89 million during the quarter. During the same quarter last year, the firm earned $0.64 EPS. The company’s revenue was up 16.9% on a year-over-year basis. On average, equities analysts anticipate that Circle Internet Group, Inc. will post 1.20 EPS for the current year.

Hedge Funds Weigh In On Circle Internet Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio purchased a new stake in shares of Circle Internet Group during the 2nd quarter worth approximately $5,539,000. Fifth Third Bancorp acquired a new position in shares of Circle Internet Group in the 1st quarter valued at $7,282,000. SBI Holdings USA Inc. acquired a new position in shares of Circle Internet Group in the 2nd quarter valued at $101,084,820. Handelsbanken Fonder AB purchased a new position in shares of Circle Internet Group in the 2nd quarter valued at $6,804,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Circle Internet Group in the 1st quarter valued at $21,761,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CRCL. Weiss Ratings upgraded shares of Circle Internet Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday. JPMorgan Chase & Co. lowered their target price on shares of Circle Internet Group from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, November 5th. Wells Fargo & Company dropped their target price on Circle Internet Group from $115.00 to $101.00 and set an “overweight” rating on the stock in a report on Thursday, November 5th. HC Wainwright dropped their target price on Circle Internet Group from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, November 5th. Finally, The Goldman Sachs Group restated an “underperform” rating on shares of Circle Internet Group in a research note on Wednesday, September 9th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, Circle Internet Group presently has an average rating of “Hold” and an average price target of $91.44.

Circle Internet Group Company Profile

Circle Internet Group develops digital financial infrastructure centered on stablecoins and blockchain-based payments. Its principal products include USDC, a U.S. dollar-pegged stablecoin, and EURC, a euro-pegged stablecoin. The company also provides services and software that help businesses use digital currencies for payments and financial applications. Circle Mint is a platform for eligible institutions to mint and redeem USDC and EURC. Circle also offers developer tools and infrastructure, including its Cross-Chain Transfer Protocol, which supports the movement of USDC across compatible blockchains.