Circle Internet Group (NYSE:CRCL) Trading Down 4.5% - Should You Sell?

Key Points

• Circle Internet Group's shares fell 4.5% to $137.60 during trading on Monday, with a significant decrease in average daily trading volume by 60%.
• Analysts have mixed opinions on the stock, with Canaccord Genuity maintaining a "buy" rating and a price target of $247, while Wall Street Zen downgraded it to a "sell".
• Insider transactions revealed a total of 831,014 shares sold in the last 90 days, indicating a potential lack of confidence among executives.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) traded down 4.5% during mid-day trading on Monday . The stock traded as low as $134.56 and last traded at $137.60. 8,928,111 shares were traded during mid-day trading, a decline of 60% from the average session volume of 22,059,875 shares. The stock had previously closed at $144.14.

Analysts Set New Price Targets

A number of analysts have weighed in on CRCL shares. Wall Street Zen cut Circle Internet Group from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. The Goldman Sachs Group assumed coverage on Circle Internet Group in a report on Tuesday, August 12th. They issued a "neutral" rating and a $83.00 price objective on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $250.00 price objective on shares of Circle Internet Group in a report on Monday, September 8th. Sanford C. Bernstein began coverage on Circle Internet Group in a research note on Monday, June 30th. They set an "outperform" rating and a $230.00 price target on the stock. Finally, Baird R W upgraded Circle Internet Group to a "hold" rating in a research report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $170.91.

Circle Internet Group Stock Down 3.6%

The business's 50-day moving average price is $154.21. The stock has a market capitalization of $30.43 billion and a P/E ratio of -10,480.48.

Insiders Place Their Bets

In other news, insider Nikhil Chandhok sold 50,000 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $127.08, for a total value of $6,354,000.00. Following the sale, the insider owned 530,803 shares in the company, valued at approximately $67,454,445.24. This represents a 8.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Patrick Sean Neville sold 260,374 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $127.08, for a total transaction of $33,088,327.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 831,014 shares of company stock worth $105,416,046.

Institutional Investors Weigh In On Circle Internet Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Baader Bank Aktiengesellschaft acquired a new stake in shares of Circle Internet Group in the second quarter valued at approximately $1,083,000. Exchange Traded Concepts LLC acquired a new stake in shares of Circle Internet Group in the second quarter valued at approximately $18,397,000. Masso Torrence Wealth Management Inc. acquired a new stake in shares of Circle Internet Group in the second quarter valued at approximately $245,000. Brand Asset Management Group Inc. acquired a new stake in shares of Circle Internet Group in the second quarter valued at approximately $272,000. Finally, Westbourne Investments Inc. bought a new position in shares of Circle Internet Group in the second quarter valued at approximately $204,000.

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.