Circle Internet Group (NYSE:CRCL) Shares Down 4.3% - Time to Sell?

Key Points

• Circle Internet Group (NYSE:CRCL) shares dropped 4.3%, closing at $184.58 after trading as low as $183.91, with a volume decline of 87% compared to average trading volume.
• Analysts have mixed opinions on the stock, with four rated as sell, five hold, five buy, and one strong buy, giving a consensus rating of "Hold" and an average target price of $175.27.
• Recent insider sales include CEO Jeremy Allaire, who sold over 1.58 million shares worth $46.36 million, as insiders collectively sold nearly $196 million in stock over the last 90 days.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) shares traded down 4.3% on Monday . The company traded as low as $183.91 and last traded at $184.58. 4,428,187 shares changed hands during trading, a decline of 87% from the average session volume of 33,248,738 shares. The stock had previously closed at $192.86.

Wall Street Analyst Weigh In

CRCL has been the topic of a number of analyst reports. Canaccord Genuity Group initiated coverage on shares of Circle Internet Group in a research note on Monday, June 30th. They issued a "buy" rating and a $247.00 price objective on the stock. The Goldman Sachs Group began coverage on shares of Circle Internet Group in a report on Monday, June 30th. They set a "neutral" rating and a $83.00 price objective on the stock. Sanford C. Bernstein initiated coverage on shares of Circle Internet Group in a report on Monday, June 30th. They issued an "outperform" rating and a $230.00 target price for the company. Needham & Company LLC began coverage on shares of Circle Internet Group in a report on Wednesday, July 16th. They set a "buy" rating for the company. Finally, JPMorgan Chase & Co. began coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They set an "underweight" rating and a $80.00 target price for the company. Four analysts have rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $175.27.

Circle Internet Group Stock Performance

The stock has a market capitalization of $41.31 billion and a price-to-earnings ratio of -14,669.67.

Insider Transactions at Circle Internet Group

In other news, Director Rajeev V. Date sold 50,000 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $29.30, for a total value of $1,465,000.00. Following the completion of the transaction, the director owned 238,513 shares in the company, valued at $6,988,430.90. This trade represents a 17.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeremy Allaire sold 1,582,160 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $29.30, for a total transaction of $46,357,288.00. The disclosure for this sale can be found here. Insiders have sold 6,682,884 shares of company stock worth $195,808,501 over the last 90 days.

Institutional Investors Weigh In On Circle Internet Group

Several hedge funds have recently modified their holdings of CRCL. North Star Investment Management Corp. acquired a new stake in shares of Circle Internet Group during the 2nd quarter worth about $34,000. Hennessy Advisors Inc. acquired a new position in Circle Internet Group during the second quarter valued at approximately $36,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Circle Internet Group during the second quarter worth $79,000. CWM LLC acquired a new position in shares of Circle Internet Group during the second quarter worth $115,000. Finally, Westbourne Investments Inc. acquired a new position in shares of Circle Internet Group during the second quarter worth $204,000.

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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