Circle Internet Group (NYSE:CRCL) Stock Price Down 5.2% - Should You Sell?

Key Points

• Circle Internet Group's stock price fell by 5.2% on Friday, with a trading range between $167.30 and $174.05, amidst a significant decline in trading volume.
• Analysts have mixed opinions on Circle Internet Group, with four rating it a sell and five each rating it a buy and hold, leading to an average rating of "Hold" and a target price of $175.27.
• Insiders sold significant shares recently, with CFO Jeremy Fox-Geen selling 200,000 shares for $5.86 million and Director Patrick Sean Neville selling 1 million shares for $29.3 million, indicating reduced confidence in the stock.

Shares of Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) were down 5.2% during trading on Friday . The stock traded as low as $167.30 and last traded at $174.05. Approximately 6,571,079 shares changed hands during trading, a decline of 79% from the average daily volume of 30,799,910 shares. The stock had previously closed at $183.52.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Mizuho initiated coverage on shares of Circle Internet Group in a report on Tuesday, July 8th. They issued an "underperform" rating and a $85.00 price target on the stock. Barclays began coverage on Circle Internet Group in a report on Monday, June 30th. They set an "overweight" rating and a $215.00 price target on the stock. Oppenheimer started coverage on shares of Circle Internet Group in a research report on Monday, June 30th. They issued a "market perform" rating on the stock. Seaport Res Ptn raised Circle Internet Group to a "strong-buy" rating in a report on Friday, June 20th. Finally, Citigroup assumed coverage on shares of Circle Internet Group in a report on Monday, June 30th. They issued a "buy" rating and a $243.00 price target on the stock. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $175.27.

Circle Internet Group Price Performance

The stock has a market capitalization of $38.17 billion and a PE ratio of -13,553.03.

Insiders Place Their Bets

In other news, CFO Jeremy Fox-Geen sold 200,000 shares of the business'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 completion of the transaction, the chief financial officer directly owned 320,371 shares of the company's stock, valued at $9,386,870.30. The trade was a 38.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 transaction of $29,300,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,682,884 shares of company stock valued at $195,808,501.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRCL. Brand Asset Management Group Inc. bought a new stake in Circle Internet Group in the 2nd quarter valued at $272,000. Westbourne Investments Inc. bought a new stake in shares of Circle Internet Group in the second quarter worth $204,000. Baader Bank Aktiengesellschaft bought a new stake in shares of Circle Internet Group during the 2nd quarter valued at about $1,083,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Circle Internet Group during the 2nd quarter worth approximately $673,000. Finally, Exchange Traded Concepts LLC bought a new position in Circle Internet Group during the second quarter worth $18,397,000.

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.

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