Circle Internet Group (NYSE:CRCL) Trading Down 5.2% - Here's Why

Key Points

• Circle Internet Group's stock price fell by **5.2%**, closing at **$125.12**, while trading volume was **85% lower** than average.
• Analysts have mixed views, with **one Strong Buy**, **five Buy**, **five Hold**, and **three Sell** ratings, and an average target price of **$170.91**.
• Insider trading activity included significant sales by a director and CFO, with **7.48 million shares** sold in the last 90 days, totaling **$297 million**.

Shares of Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) fell 5.2% on Tuesday . The stock traded as low as $124.71 and last traded at $125.12. 3,553,975 shares were traded during mid-day trading, a decline of 85% from the average session volume of 24,094,541 shares. The stock had previously closed at $131.98.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CRCL. Robert W. Baird dropped their target price on Circle Internet Group from $210.00 to $185.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 13th. Needham & Company LLC reaffirmed a "buy" rating and issued a $250.00 target price on shares of Circle Internet Group in a research report on Wednesday, August 20th. Barclays assumed coverage on Circle Internet Group in a research report on Monday, June 30th. They issued an "overweight" rating and a $215.00 target price on the stock. Canaccord Genuity Group reissued a "buy" rating and set a $247.00 price objective on shares of Circle Internet Group in a report on Monday, August 18th. Finally, Baird R W raised Circle Internet Group to a "hold" rating in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $170.91.

Circle Internet Group Stock Performance

The business's 50 day moving average is $168.43. The firm has a market cap of $26.26 billion and a PE ratio of -9,044.57.

Insider Activity

In other Circle Internet Group news, CFO Jeremy Fox-Geen sold 33,608 shares of the firm's stock in a transaction that occurred on 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 owned 297,823 shares in the company, valued at approximately $36,170,603.35. This trade represents a 10.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nikhil Chandhok sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was 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 $67,454,445.24. This represents a 8.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 831,014 shares of company stock worth $105,416,046 over the last 90 days.

Institutional Trading of Circle Internet Group

A number of hedge funds have recently modified their holdings of the company. Infini Capital Management Ltd bought a new stake in shares of Circle Internet Group in the 2nd quarter worth approximately $1,124,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Circle Internet Group in the 2nd quarter worth approximately $725,000. Claris Financial LLC bought a new stake in shares of Circle Internet Group in the 2nd quarter worth approximately $749,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Circle Internet Group in the 2nd quarter worth approximately $1,953,000. Finally, Marex Group plc acquired a new position in shares of Circle Internet Group in the 2nd quarter worth approximately $3,321,000.

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.