Circle Internet Group (NYSE:CRCL) Shares Gap Down - Should You Sell?

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $207.46, but opened at $199.50. Circle Internet Group shares last traded at $206.59, with a volume of 6,934,487 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CRCL shares. JPMorgan Chase & Co. started coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They set an "underweight" rating and a $80.00 price objective on the stock. Mizuho started coverage on shares of Circle Internet Group in a research report on Tuesday. They set an "underperform" rating and a $85.00 price objective on the stock. Needham & Company LLC initiated coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They set a "buy" rating and a $250.00 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 on the stock. Finally, Seaport Res Ptn raised shares of Circle Internet Group to a "strong-buy" rating in a report on Friday, June 20th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Circle Internet Group presently has a consensus rating of "Hold" and an average target price of $179.30.

Circle Internet Group Trading Down 1.4%

Insider Transactions at Circle Internet Group

In other Circle Internet Group news, CFO Jeremy Fox-Geen sold 200,000 shares of Circle Internet Group stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $29.30, for a total transaction of $5,860,000.00. Following the completion of the transaction, the chief financial officer owned 320,371 shares in the company, valued at approximately $9,386,870.30. The trade was a 38.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Patrick Sean Neville sold 1,000,000 shares of Circle Internet Group stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $29.30, for a total transaction of $29,300,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,682,884 shares of company stock valued at $195,808,501.

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.