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

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $199.59, but opened at $231.50. Circle Internet Group shares last traded at $228.30, with a volume of 31,164,755 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CRCL shares. Seaport Res Ptn upgraded Circle Internet Group to a "strong-buy" rating in a research report on Friday. Wall Street Zen upgraded shares of Circle Internet Group to a "hold" rating in a report on Saturday, June 14th.

Circle Internet Group Stock Up 9.4%

The company has a market capitalization of $58.47 billion and a P/E ratio of -20,764.98.

Insiders Place Their Bets

In other Circle Internet Group news, CEO Jeremy Allaire sold 1,582,160 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 value of $46,357,288.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Catalyst Group Vi L.P General sold 3,550,724 shares of the business's stock in a transaction dated 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 owns 20,120,769 shares in the company, valued at approximately $589,538,531.70. This trade represents a 15.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,682,884 shares of company stock worth $195,808,501 over the last ninety days.

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.