Circle Internet Group (NYSE:CRCL) Stock Price Down 6.4% - Here's What Happened

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) shares were down 6.4% during mid-day trading on Friday . The stock traded as low as $198.21 and last traded at $199.90. Approximately 15,123,827 shares were traded during trading, a decline of 68% from the average daily volume of 47,451,109 shares. The stock had previously closed at $213.63.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Compass Point started coverage on shares of Circle Internet Group in a report on Tuesday. They set a "neutral" rating and a $205.00 price target on the stock. Wall Street Zen upgraded shares of Circle Internet Group to a "hold" rating in a research report on Saturday, June 14th. Finally, Seaport Res Ptn raised shares of Circle Internet Group to a "strong-buy" rating in a research report on Friday, June 20th.

Circle Internet Group Price Performance

The firm has a market capitalization of $42.21 billion and a P/E ratio of -14,989.73.

Insiders Place Their Bets

In other news, Director Rajeev V. Date sold 50,000 shares of the company'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 $1,465,000.00. Following the completion of the sale, the director now directly owns 238,513 shares in the company, valued at $6,988,430.90. This represents a 17.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Nikhil Chandhok sold 300,000 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 $8,790,000.00. Following the completion of the transaction, the insider now directly owns 605,580 shares in the company, valued at approximately $17,743,494. This represents a 33.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,682,884 shares of company stock valued at $195,808,501.

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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