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

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report)'s stock price traded down 1.6% on Wednesday . The company traded as low as $201.50 and last traded at $201.53. 9,439,728 shares changed hands during trading, a decline of 77% from the average session volume of 41,371,730 shares. The stock had previously closed at $204.81.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Needham & Company LLC assumed coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They set a "buy" rating and a $250.00 target price for the company. Mizuho started coverage on shares of Circle Internet Group in a research report on Tuesday. They set an "underperform" rating and a $85.00 target price for the company. Canaccord Genuity Group initiated coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They set a "buy" rating and a $247.00 price objective for the company. Wall Street Zen lowered shares of Circle Internet Group from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Finally, Compass Point initiated coverage on shares of Circle Internet Group in a report on Tuesday, June 24th. They issued a "neutral" rating and a $205.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $179.30.

Circle Internet Group Trading Down 1.4%

The stock has a market cap of $44.93 billion and a P/E ratio of -15,954.64.

Insider Buying and Selling at Circle Internet Group

In related news, insider Nikhil Chandhok sold 300,000 shares of Circle Internet Group 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 $8,790,000.00. Following the completion of the sale, the insider directly owned 605,580 shares in the company, valued at $17,743,494. This trade represents a 33.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeremy Allaire sold 1,582,160 shares of Circle Internet Group stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $29.30, for a total transaction of $46,357,288.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,682,884 shares of company stock worth $195,808,501.

Institutional Trading of Circle Internet Group

An institutional investor recently bought a new position in Circle Internet Group stock. Westbourne Investments Inc. acquired a new stake in shares of Circle Internet Group, Inc. (NYSE:CRCL - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,124 shares of the company's stock, valued at approximately $204,000.

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.

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