Circle Internet Group (NYSE:CRCL) Trading Down 3.4% - Time to Sell?

Key Points

• Circle Internet Group's stock price fell by 3.4% to $130.24, with a trading volume decline of 17% compared to its average session.
• Brokerages have issued varied ratings on the stock, with Citigroup giving it a "buy" rating at a price target of $243.00, while the consensus rating stands at "Hold" with an average target of $170.91.
• Insider activities include CEO Jeremy Allaire selling 357,812 shares for approximately $45.47 million, contributing to a total of $105.42 million in insider sales over the last ninety days.

Shares of Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) dropped 3.4% on Wednesday . The company traded as low as $128.26 and last traded at $130.24. Approximately 18,589,942 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 22,403,336 shares. The stock had previously closed at $134.81.

Analysts Set New Price Targets

CRCL has been the topic of a number of research analyst reports. Robert W. Baird reduced their target price on Circle Internet Group from $210.00 to $185.00 and set a "neutral" rating on the stock in a report on Wednesday, August 13th. Baird R W raised Circle Internet Group to a "hold" rating in a research report on Friday, July 11th. Oppenheimer began coverage on Circle Internet Group in a research report on Friday, September 12th. They set a "market perform" rating for the company. JPMorgan Chase & Co. raised their target price on Circle Internet Group from $80.00 to $89.00 and gave the stock an "underweight" rating in a research report on Tuesday, August 19th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $247.00 target price on shares of Circle Internet Group in a research report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $170.91.

Circle Internet Group Stock Up 7.0%

The company has a 50-day moving average price of $157.62. The firm has a market capitalization of $32.18 billion and a PE ratio of -11,084.24.

Insider Transactions at Circle Internet Group

In other news, CFO Jeremy Fox-Geen sold 33,608 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $121.45, for a total value of $4,081,691.60. Following the completion of the sale, the chief financial officer directly owned 297,823 shares in the company, valued at $36,170,603.35. This trade represents a 10.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Nikhil Chandhok sold 50,000 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $127.08, for a total value of $6,354,000.00. Following the completion of the sale, the insider owned 530,803 shares of the company's stock, valued at approximately $67,454,445.24. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 831,014 shares of company stock worth $105,416,046.

Institutional Trading of Circle Internet Group

Several large investors have recently made changes to their positions in CRCL. EverSource Wealth Advisors LLC acquired a new position in Circle Internet Group during the 2nd quarter valued at about $27,000. North Star Investment Management Corp. acquired a new position in Circle Internet Group during the 2nd quarter valued at about $34,000. Hennessy Advisors Inc. acquired a new position in Circle Internet Group during the 2nd quarter valued at about $36,000. Allworth Financial LP acquired a new position in Circle Internet Group during the 2nd quarter valued at about $37,000. Finally, Chilton Capital Management LLC acquired a new position in Circle Internet Group during the 2nd quarter valued at about $40,000.

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.