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

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $204.70, but opened at $198.00. Circle Internet Group shares last traded at $199.28, with a volume of 2,793,617 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently commented on CRCL shares. Seaport Res Ptn upgraded shares of Circle Internet Group to a "strong-buy" rating in a research note on Friday, June 20th. Mizuho assumed coverage on shares of Circle Internet Group in a research note on Tuesday, July 8th. They set an "underperform" rating and a $85.00 price objective on the stock. Needham & Company LLC assumed coverage on shares of Circle Internet Group in a research note on Wednesday. They set a "buy" rating on the stock. Sanford C. Bernstein assumed coverage on shares of Circle Internet Group in a research note on Monday, June 30th. They set an "outperform" rating and a $230.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Circle Internet Group in a research note on Monday, June 30th. They set a "hold" rating and a $155.00 price objective on the stock. Three analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $182.09.

Circle Internet Group Price Performance

Insider Buying and Selling

In other news, CEO Jeremy Allaire sold 1,582,160 shares of Circle Internet Group stock in a transaction on Friday, June 6th. The shares were sold at an average price of $29.30, for a total value of $46,357,288.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Patrick Sean Neville sold 1,000,000 shares of Circle Internet Group stock in a transaction on Friday, June 6th. The shares were 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. Insiders have sold a total of 6,682,884 shares of company stock worth $195,808,501 over the last ninety days.

Institutional Trading of Circle Internet Group

Several hedge funds have recently bought and sold shares of CRCL. Brand Asset Management Group Inc. acquired a new stake in Circle Internet Group in the 2nd quarter valued at $272,000. Westbourne Investments Inc. bought a new stake in shares of Circle Internet Group during the 2nd quarter worth $204,000. Baader Bank Aktiengesellschaft bought a new stake in shares of Circle Internet Group during the 2nd quarter worth $1,083,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Circle Internet Group during the 2nd quarter worth $673,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Circle Internet Group during the 2nd quarter worth $18,397,000.

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.