Circle Internet Group (NYSE:CRCL) Shares Down 4.5% - What's Next?

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.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CRCL shares. Canaccord Genuity Group reissued a "buy" rating and set a $247.00 price target on shares of Circle Internet Group in a research note on Thursday, September 11th. Wall Street Zen lowered Circle Internet Group from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. The Goldman Sachs Group started coverage on Circle Internet Group in a research note on Tuesday, August 12th. They set a "neutral" rating and a $83.00 price target on the stock. Mizuho set a $85.00 price target on Circle Internet Group in a research note on Tuesday, August 12th. Finally, Needham & Company LLC reissued a "buy" rating and set a $250.00 price target on shares of Circle Internet Group in a research note on Monday, September 8th. 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 given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $170.91.

Circle Internet Group Price Performance

The firm has a market cap of $31.57 billion and a price-to-earnings ratio of -10,874.03. The business has a fifty day moving average of $155.54.

Insiders Place Their Bets

In other news, insider Nikhil Chandhok sold 50,000 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 transaction of $6,354,000.00. Following the completion of the sale, the insider owned 530,803 shares in the company, valued at $67,454,445.24. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Rajeev V. Date sold 33,400 shares of the business's stock in a transaction that occurred 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. This represents a 11.84% decrease in their position. 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 90 days.

Institutional Investors Weigh In On Circle Internet Group

Several institutional investors have recently bought and sold shares of CRCL. General Catalyst Group Management LLC bought a new position in shares of Circle Internet Group during the 2nd quarter worth approximately $3,647,694,000. Marshall Wace LLP purchased a new position in shares of Circle Internet Group during the 2nd quarter valued at $1,547,214,000. ARK Investment Management LLC purchased a new position in shares of Circle Internet Group during the 2nd quarter valued at $530,165,000. Squarepoint Ops LLC bought a new stake in shares of Circle Internet Group during the 2nd quarter valued at $73,101,000. Finally, Nikko Asset Management Americas Inc. bought a new stake in shares of Circle Internet Group during the 2nd quarter valued at $72,486,000.

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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