Circle Internet Group (NYSE:CRCL) Shares Gap Up - Here's Why

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) shares 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 traded.

Analysts Set New Price Targets

Several brokerages recently commented on CRCL. Seaport Res Ptn upgraded shares of Circle Internet Group to a "strong-buy" rating in a report on Friday, June 20th. Compass Point initiated coverage on shares of Circle Internet Group in a research report on Tuesday. They set a "neutral" rating and a $205.00 price target on the stock. Finally, Wall Street Zen lowered shares of Circle Internet Group from a "hold" rating to a "sell" rating in a research report on Friday.

Circle Internet Group Stock Performance

The stock has a market capitalization of $40.20 billion and a PE ratio of -14,273.75.

Insiders Place Their Bets

In other news, insider Nikhil Chandhok sold 300,000 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 $8,790,000.00. Following the transaction, the insider now directly owns 605,580 shares of the company's stock, valued at $17,743,494. This represents a 33.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $1,465,000.00. Following the completion of the transaction, the director now directly owns 238,513 shares in the company, valued at $6,988,430.90. The trade was a 17.33% decrease in their ownership of the stock. 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.