Circle Internet Group (NYSE:CRCL) Stock Price Down 7.1% - What's Next?

Key Points

• Circle Internet Group's stock price has dropped by **7.1%**, with shares trading from a low of $154.50 to a closing price of $156.21.
• Recent analyst ratings are mixed, with one firm upgrading the stock to "strong buy," while another downgraded it to "sell," resulting in an average rating of **"Hold."**
• In insider trading news, significant shares amounting to over **6.6 million** were sold by insiders during the last quarter, indicating a notable decrease in their positions.

Shares of Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) traded down 7.1% on Monday . The company traded as low as $154.50 and last traded at $156.21. 5,814,486 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 30,318,762 shares. The stock had previously closed at $168.10.

Wall Street Analyst Weigh In

A number of brokerages have commented on CRCL. Seaport Res Ptn upgraded Circle Internet Group to a "strong-buy" rating in a research report on Friday, June 20th. Wall Street Zen cut Circle Internet Group from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Barclays began coverage on Circle Internet Group in a research report on Monday, June 30th. They issued an "overweight" rating and a $215.00 price target for the company. Needham & Company LLC started coverage on Circle Internet Group in a research report on Wednesday, July 16th. They issued a "buy" rating for the company. Finally, Oppenheimer initiated coverage on Circle Internet Group in a research note on Monday, June 30th. They set a "market perform" rating for the company. Four analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $175.27.

Circle Internet Group Stock Down 3.9%

The company has a market capitalization of $35.96 billion and a price-to-earnings ratio of -12,768.29.

Insider Activity

In other Circle Internet Group news, insider Nikhil Chandhok sold 300,000 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $29.30, for a total transaction of $8,790,000.00. Following the sale, the insider owned 605,580 shares in the company, valued at approximately $17,743,494. The trade was a 33.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeremy Fox-Geen sold 200,000 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $29.30, for a total value of $5,860,000.00. Following the sale, the chief financial officer owned 320,371 shares in the company, valued at approximately $9,386,870.30. The trade was a 38.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,682,884 shares of company stock worth $195,808,501 over the last quarter.

Hedge Funds Weigh In On Circle Internet Group

Large investors have recently bought and sold shares of the business. North Star Investment Management Corp. acquired a new position in Circle Internet Group in the 2nd quarter worth about $34,000. Hennessy Advisors Inc. acquired a new stake in shares of Circle Internet Group in the second quarter valued at approximately $36,000. Chilton Capital Management LLC acquired a new stake in shares of Circle Internet Group in the second quarter valued at approximately $40,000. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Circle Internet Group in the second quarter valued at approximately $52,000. Finally, Compagnie Lombard Odier SCmA acquired a new stake in shares of Circle Internet Group in the second quarter valued at approximately $79,000.

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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