Circle Internet Group (NYSE:CRCL) Shares Down 2.5% - What's Next?

Key Points

• Circle Internet Group's shares fell by 2.5%, trading at $117.08 after hitting a low of $116.60, significantly below its previous close of $120.14.
• The company's average target price among analysts is $170.91, with ratings ranging from "Strong Buy" to "Sell," indicating mixed investor sentiment.
• Major shareholders have recently sold large stakes in Circle, with a total of 7.48 million shares sold over the past ninety days, highlighting potential concerns among insiders.

Shares of Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) were down 2.5% on Wednesday . The stock traded as low as $116.60 and last traded at $117.08. Approximately 3,634,711 shares traded hands during trading, a decline of 85% from the average daily volume of 23,864,559 shares. The stock had previously closed at $120.14.

Analyst Ratings Changes

CRCL has been the subject of a number of research reports. Sanford C. Bernstein initiated coverage on Circle Internet Group in a research report on Monday, June 30th. They set an "outperform" rating and a $230.00 price target for the company. Barclays initiated coverage on Circle Internet Group in a research report on Monday, June 30th. They set an "overweight" rating and a $215.00 price target for the company. Deutsche Bank Aktiengesellschaft lowered their price target on Circle Internet Group from $163.00 to $123.00 and set a "hold" rating for the company in a research report on Wednesday, August 20th. Needham & Company LLC reaffirmed a "buy" rating and set a $250.00 price target on shares of Circle Internet Group in a research report on Wednesday, August 20th. Finally, Wall Street Zen cut Circle Internet Group from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $170.91.

Circle Internet Group Trading Down 1.5%

The company has a market capitalization of $27.14 billion and a price-to-earnings ratio of -9,349.61. The firm's fifty day moving average price is $173.30.

Insider Buying and Selling

In other Circle Internet Group news, major shareholder Catalyst Group Vi L.P General sold 3,550,724 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $29.30, for a total transaction of $104,036,213.20. Following the completion of the sale, the insider directly owned 20,120,769 shares in the company, valued at approximately $589,538,531.70. The trade was a 15.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nikhil Chandhok sold 300,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $29.30, for a total value of $8,790,000.00. Following the sale, the insider owned 605,580 shares of the company's stock, valued at approximately $17,743,494. This trade represents a 33.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,480,290 shares of company stock worth $297,142,856 in the last ninety days.

Institutional Investors Weigh In On Circle Internet Group

Several large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC purchased a new stake in Circle Internet Group during the 2nd quarter worth approximately $27,000. North Star Investment Management Corp. acquired a new position in Circle Internet Group in the second quarter valued at approximately $34,000. Hennessy Advisors Inc. acquired a new position in Circle Internet Group in the second quarter valued at approximately $36,000. Allworth Financial LP acquired a new position in Circle Internet Group in the second quarter valued at approximately $37,000. Finally, Chilton Capital Management LLC acquired a new position in Circle Internet Group in the second quarter valued at approximately $40,000.

Circle Internet Group Company Profile

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.

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