Circle Internet Group (NYSE:CRCL) Shares Down 3.3% - Should You Sell?

Key Points

• Circle Internet Group's shares decreased by 3.3%, trading at $144.75 after peaking at $149.72, with trading volumes down by 85% compared to the average.
• Recent analyst ratings show a trend of downgrades, with Citigroup initiating coverage as "market perform," while Compass Point lowered its rating to "sell" and adjusted the price target to $130.
• Insider trading saw significant activity, with key executives selling large amounts of stock, indicating potential concerns regarding the company's outlook, as 831,014 shares were sold in the last quarter.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) fell 3.3% during trading on Friday . The company traded as low as $144.52 and last traded at $144.75. 3,040,399 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 20,640,525 shares. The stock had previously closed at $149.72.

Wall Street Analyst Weigh In

CRCL has been the subject of a number of recent analyst reports. Citigroup initiated coverage on Circle Internet Group in a research note on Tuesday. They issued a "market perform" rating for the company. Compass Point cut shares of Circle Internet Group from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $205.00 to $130.00 in a research report on Monday, July 21st. 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 report on Wednesday, August 20th. JMP Securities began coverage on Circle Internet Group in a research note on Tuesday. They set a "market perform" rating for the company. Finally, Mizuho set a $85.00 price objective on shares of Circle Internet Group in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Circle Internet Group has an average rating of "Hold" and an average price target of $165.54.

Circle Internet Group Stock Performance

The firm has a fifty day moving average price of $141.47. The company has a market capitalization of $33.45 billion and a price-to-earnings ratio of -11,522.92.

Insiders Place Their Bets

In related news, CAO Tamara L. Schulz sold 836 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $127.08, for a total value of $106,238.88. Following the completion of the sale, the chief accounting officer directly owned 93,609 shares in the company, valued at approximately $11,895,831.72. The trade was a 0.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Rajeev V. Date sold 33,400 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $127.08, for a total value of $4,244,472.00. Following the sale, the director owned 248,663 shares of the company's stock, valued at approximately $31,600,094.04. The trade was a 11.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 831,014 shares of company stock valued at $105,416,046 in the last quarter.

Hedge Funds Weigh In On Circle Internet Group

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

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.

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