Circle Internet Group (NYSE:CRCL) Shares Down 7% - What's Next?

Shares of Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) fell 7% during mid-day trading on Wednesday . The company traded as low as $202.60 and last traded at $207.01. 25,403,376 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 48,062,094 shares. The stock had previously closed at $222.65.

Analyst Ratings Changes

Several research firms have recently commented on CRCL. Wall Street Zen upgraded shares of Circle Internet Group to a "hold" rating in a research report on Saturday, June 14th. Compass Point started coverage on shares of Circle Internet Group in a research note on Tuesday. They set a "neutral" rating and a $205.00 target price for the company. Finally, Seaport Res Ptn raised Circle Internet Group to a "strong-buy" rating in a report on Friday, June 20th.

Circle Internet Group Stock Down 7.4%

The firm has a market cap of $45.89 billion and a price-to-earnings ratio of -16,295.24.

Insider Buying and Selling at Circle Internet Group

In other Circle Internet Group news, major shareholder Catalyst Group Vi L.P General sold 3,550,724 shares of the business'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 sale, the insider now directly owns 20,120,769 shares of the company's stock, valued at $589,538,531.70. The trade was a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction, the director now directly owns 238,513 shares in the company, valued at approximately $6,988,430.90. This represents a 17.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,682,884 shares of company stock valued at $195,808,501 in the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.