Circle Internet Group (NYSE:CRCL) Stock Price Down 4.6% - Time to Sell?

Key Points

• Circle Internet Group shares fell about 4.6% mid-day to roughly $101 (low $99.38) on sharply reduced volume — ~2.74M shares versus a 15.19M average.
• Analysts are mixed: MarketBeat shows a consensus rating of Hold with a $126.41 average target, while recent notes range from a $90 target (JPMorgan) to $120 (Mizuho) and a downgrade to "sell" from Wall Street Zen.
• The company reported a strong quarter — EPS $0.43 vs. $0.25 expected and revenue $770.2M, up 76.9% YoY — even as insiders have sold roughly 545,874 shares (~$53M) over the past three months under Rule 10b5-1 plans.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) shares were down 4.6% during mid-day trading on Monday . The stock traded as low as $99.38 and last traded at $101.0010. Approximately 2,738,872 shares traded hands during trading, a decline of 82% from the average daily volume of 15,185,835 shares. The stock had previously closed at $105.91.

Analysts Set New Price Targets

CRCL has been the subject of a number of research reports. Mizuho lifted their price objective on Circle Internet Group from $100.00 to $120.00 and gave the stock a "neutral" rating in a research report on Friday, March 13th. JPMorgan Chase & Co. cut their target price on shares of Circle Internet Group from $100.00 to $90.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 10th. Zacks Research upgraded shares of Circle Internet Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, March 17th. Wells Fargo & Company dropped their price target on shares of Circle Internet Group from $128.00 to $111.00 and set an "overweight" rating for the company in a research note on Thursday, February 26th. Finally, Wall Street Zen lowered shares of Circle Internet Group from a "hold" rating to a "sell" rating in a report on Saturday, April 11th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $126.41.

Circle Internet Group Stock Down 3.9%

The stock has a market cap of $25.13 billion and a P/E ratio of -54.66. The stock has a fifty day simple moving average of $93.21 and a 200-day simple moving average of $93.48.

Circle Internet Group (NYSE:CRCL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.18. The company had revenue of $770.23 million during the quarter. Circle Internet Group's revenue was up 76.9% compared to the same quarter last year.

Insider Transactions at Circle Internet Group

In other news, Director Rajeev V. Date sold 1,273 shares of the business's stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $95.00, for a total value of $120,935.00. Following the completion of the transaction, the director owned 152,328 shares of the company's stock, valued at $14,471,160. The trade was a 0.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Heath Tarbert sold 15,000 shares of the business's stock in a transaction on Monday, April 13th. The shares were sold at an average price of $95.04, for a total transaction of $1,425,600.00. Following the completion of the transaction, the president directly owned 561,168 shares of the company's stock, valued at $53,333,406.72. This trade represents a 2.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 545,874 shares of company stock valued at $52,991,625. Corporate insiders own 10.85% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. General Catalyst Group Management LLC acquired a new stake in shares of Circle Internet Group during the second quarter worth about $3,647,694,000. Marshall Wace LLP grew its position in shares of Circle Internet Group by 23.8% in the 4th quarter. Marshall Wace LLP now owns 9,978,729 shares of the company's stock valued at $791,313,000 after purchasing an additional 1,919,205 shares during the period. IDG Accel China Capital II Associates L.P. bought a new stake in Circle Internet Group during the 4th quarter worth approximately $554,792,000. Accel XI Associates L.L.C. bought a new stake in Circle Internet Group during the 4th quarter worth approximately $513,844,000. Finally, Vanguard Group Inc. raised its holdings in Circle Internet Group by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 5,653,110 shares of the company's stock worth $448,292,000 after buying an additional 74,414 shares during the period.

Circle Internet Group Company Profile

Circle Internet Group NYSE: CRCL is a financial technology company that builds infrastructure to enable businesses and developers to use and move money on public blockchains. Co-founded by Jeremy Allaire and Sean Neville, the company is best known as a principal issuer and steward of USDC, a dollar-pegged stablecoin developed through the CENTRE Consortium, which Circle co-founded with Coinbase. Jeremy Allaire serves as CEO and has been a visible leader in the company’s strategy and public engagement around digital currency and payments innovation.

Circle’s core products and services center on digital currency issuance and programmable payments.

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