Circle Internet Group (NYSE:CRCL) Stock Price Down 5.2% - Here's What Happened

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% during mid-day trading on Tuesday . The company traded as low as $124.71 and last traded at $125.12. 3,553,975 shares traded hands 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 recently commented on CRCL. JPMorgan Chase & Co. boosted their price objective on Circle Internet Group from $80.00 to $89.00 and gave the company an "underweight" rating in a research report on Tuesday, August 19th. Compass Point lowered Circle Internet Group from a "neutral" rating to a "sell" rating and reduced their target price for the stock from $205.00 to $130.00 in a research note on Monday, July 21st. Baird R W upgraded Circle Internet Group to a "hold" rating in a research note on Friday, July 11th. Citigroup initiated coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They issued a "buy" rating and a $243.00 price objective on the stock. Finally, Mizuho set a $85.00 price objective on shares of Circle Internet Group in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $170.91.

Circle Internet Group Stock Performance

The business's fifty day moving average is $175.40. The firm has a market capitalization of $27.81 billion and a P/E ratio of -9,578.79.

Insider Activity

In related news, Director Patrick Sean Neville sold 1,000,000 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $29.30, for a total value of $29,300,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeremy Fox-Geen sold 200,000 shares of the firm's stock in a transaction on 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 sale, the chief financial officer directly owned 320,371 shares of the company's stock, valued at approximately $9,386,870.30. This represents a 38.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,480,290 shares of company stock worth $297,142,856 over the last 90 days.

Hedge Funds Weigh In On Circle Internet Group

Institutional investors have recently modified their holdings of the stock. Infini Capital Management Ltd bought a new position in Circle Internet Group in the 2nd quarter worth approximately $1,124,000. China Universal Asset Management Co. Ltd. acquired a new stake in Circle Internet Group during the 2nd quarter worth $725,000. Claris Financial LLC acquired a new position in shares of Circle Internet Group during the 2nd quarter worth about $749,000. Newbridge Financial Services Group Inc. acquired a new position in Circle Internet Group during the second quarter valued at approximately $1,953,000. Finally, Marex Group plc acquired a new position in Circle Internet Group in the second quarter valued at about $3,321,000.

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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