Circle Internet Group (NYSE:CRCL) Trading Down 1.6% - Time to Sell?

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) dropped 1.6% on Wednesday . The stock traded as low as $201.50 and last traded at $201.53. Approximately 9,439,728 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 41,371,730 shares. The stock had previously closed at $204.81.

Analyst Upgrades and Downgrades

CRCL has been the subject of several recent research reports. Wall Street Zen cut Circle Internet Group from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Citigroup initiated coverage on Circle Internet Group in a research report on Monday, June 30th. They issued a "buy" rating and a $243.00 price target for the company. Sanford C. Bernstein initiated coverage on Circle Internet Group in a research report on Monday, June 30th. They issued an "outperform" rating and a $230.00 price target for the company. Barclays assumed coverage on Circle Internet Group in a research report on Monday, June 30th. They issued an "overweight" rating and a $215.00 price target for the company. Finally, Seaport Res Ptn upgraded Circle Internet Group to a "strong-buy" rating in a research report on Friday, June 20th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Circle Internet Group presently has an average rating of "Hold" and a consensus price target of $179.30.

Circle Internet Group Price Performance

The company has a market capitalization of $45.00 billion and a PE ratio of -15,979.14.

Insider Buying and Selling

In other news, CFO Jeremy Fox-Geen sold 200,000 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $29.30, for a total value of $5,860,000.00. Following the completion of the sale, the chief financial officer owned 320,371 shares of the company's stock, valued at approximately $9,386,870.30. The trade was a 38.43% decrease in their position. The transaction 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 the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $29.30, for a total value 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 in the last 90 days.

Institutional Trading of Circle Internet Group

Several hedge funds and other institutional investors have recently made changes to their positions in CRCL. Baader Bank Aktiengesellschaft purchased a new stake in shares of Circle Internet Group in the 2nd quarter worth approximately $1,083,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Circle Internet Group in the 2nd quarter worth approximately $673,000. Brand Asset Management Group Inc. purchased a new stake in shares of Circle Internet Group in the 2nd quarter worth approximately $272,000. Finally, Westbourne Investments Inc. bought a new stake in shares of Circle Internet Group in the 2nd quarter worth $204,000.

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.