Circle Internet Group (NYSE:CRCL) Shares Down 4.8% - What's Next?

Key Points

• Circle Internet Group's stock price has declined by 4.8% to $154.00, with trading volume down 85% from its average.
• Analysts have varying opinions on the stock, with ratings ranging from sell to strong buy, and a consensus price target of $175.27.
• Insiders have significantly reduced their shareholding, selling over 6.6 million shares worth approximately $196 million in recent months.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report)'s stock price traded down 4.8% during mid-day trading on Thursday . The stock traded as low as $153.87 and last traded at $154.00. 4,197,877 shares changed hands during trading, a decline of 85% from the average session volume of 28,819,363 shares. The stock had previously closed at $161.71.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CRCL shares. Citigroup assumed coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They set a "buy" rating and a $243.00 target price for the company. Sanford C. Bernstein began coverage on shares of Circle Internet Group in a research note on Monday, June 30th. They issued an "outperform" rating and a $230.00 target price for the company. The Goldman Sachs Group began coverage on shares of Circle Internet Group in a research note on Monday, June 30th. They issued a "neutral" rating and a $83.00 price target on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Circle Internet Group in a research note on Monday, June 30th. They set a "hold" rating and a $155.00 target price for the company. Finally, Canaccord Genuity Group initiated coverage on Circle Internet Group in a report on Monday, June 30th. They issued a "buy" rating and a $247.00 price objective for the company. Four analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Circle Internet Group currently has an average rating of "Hold" and a consensus price target of $175.27.

Circle Internet Group Trading Down 6.0%

The stock has a 50 day simple moving average of $188.16. The firm has a market cap of $33.83 billion and a price-to-earnings ratio of -12,015.17.

Insider Activity

In other Circle Internet Group news, major shareholder Catalyst Group Vi L.P General sold 3,550,724 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $29.30, for a total value of $104,036,213.20. Following the completion of the transaction, the insider owned 20,120,769 shares of the company's stock, valued at $589,538,531.70. This trade represents a 15.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Jeremy Fox-Geen sold 200,000 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 $5,860,000.00. Following the sale, the chief financial officer owned 320,371 shares of the company's stock, valued at approximately $9,386,870.30. The trade was a 38.43% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,682,884 shares of company stock worth $195,808,501.

Institutional Trading of Circle Internet Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. North Star Investment Management Corp. acquired a new stake in shares of Circle Internet Group in the 2nd quarter worth about $34,000. Hennessy Advisors Inc. bought a new position in shares of Circle Internet Group during the 2nd quarter valued at $36,000. Chilton Capital Management LLC acquired a new position in Circle Internet Group in the 2nd quarter valued at $40,000. Emerald Mutual Fund Advisers Trust acquired a new stake in Circle Internet Group in the 2nd quarter worth $52,000. Finally, Mark Sheptoff Financial Planning LLC bought a new position in Circle Internet Group during the second quarter worth about $63,000.

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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