Circle Internet Group (NYSE:CRCL) Shares Gap Up - Time to Buy?

Shares of Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $198.62, but opened at $209.04. Circle Internet Group shares last traded at $216.79, with a volume of 10,100,044 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Compass Point assumed coverage on Circle Internet Group in a report on Tuesday, June 24th. They set a "neutral" rating and a $205.00 price target for the company. Wall Street Zen lowered Circle Internet Group from a "hold" rating to a "sell" rating in a research report on Friday. Finally, Seaport Res Ptn upgraded Circle Internet Group to a "strong-buy" rating in a research report on Friday, June 20th.

Circle Internet Group Price Performance

The stock has a market cap of $40.20 billion and a P/E ratio of -14,273.75.

Insider Activity

In related news, major shareholder Catalyst Group Vi L.P General sold 3,550,724 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $29.30, for a total transaction of $104,036,213.20. Following the sale, the insider now owns 20,120,769 shares of the company's stock, valued at approximately $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 can be accessed through this link. Also, insider Nikhil Chandhok sold 300,000 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $29.30, for a total value of $8,790,000.00. Following the sale, the insider now directly owns 605,580 shares in the company, valued at $17,743,494. The trade was a 33.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,682,884 shares of company stock valued at $195,808,501 in the last 90 days.

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.