Circle Internet Group (NYSE:CRCL) Trading Down 11.7% - Time to Sell?

Key Points

• The share price of Circle Internet Group (NYSE:CRCL) dropped by 11.7% to $132.80, with a trading volume decline of 6% from its average.
• Analysts have issued varied ratings on the stock, with a consensus rating of "Hold" and target prices ranging from $83.00 to $230.00.
• Circle's recent earnings report showed a significant loss of ($4.48) EPS, missing estimates despite a 53% revenue increase year-over-year.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report)'s share price was down 11.7% on Friday . The company traded as low as $133.00 and last traded at $132.80. Approximately 19,212,985 shares traded hands during trading, a decline of 6% from the average daily volume of 20,378,111 shares. The stock had previously closed at $150.48.

Analyst Ratings Changes

Several research firms have issued reports on CRCL. Baird R W upgraded shares of Circle Internet Group to a "hold" rating in a research report on Friday, July 11th. JMP Securities initiated coverage on shares of Circle Internet Group in a research note on Tuesday, September 30th. They issued a "market perform" rating on the stock. Redburn Partners set a $136.00 target price on shares of Circle Internet Group in a research note on Friday, October 3rd. Sanford C. Bernstein initiated coverage on shares of Circle Internet Group in a research note on Monday, June 30th. They issued an "outperform" rating and a $230.00 target price on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Circle Internet Group in a research note on Tuesday, August 12th. They issued a "neutral" rating and a $83.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $165.54.

Circle Internet Group Price Performance

The firm has a 50-day moving average of $137.64. The company has a market cap of $30.71 billion and a P/E ratio of -10,576.73.

Circle Internet Group (NYSE:CRCL - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($4.48) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($4.82). The firm had revenue of $658.08 million for the quarter, compared to the consensus estimate of $645.35 million. The company's revenue for the quarter was up 53.0% compared to the same quarter last year.

Insider Activity at Circle Internet Group

In other news, insider Nikhil Chandhok sold 50,000 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $127.08, for a total transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Tamara L. Schulz sold 836 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $127.08, for a total transaction of $106,238.88. Following the sale, the chief accounting officer directly owned 93,609 shares of the company's stock, valued at $11,895,831.72. This represents a 0.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 831,014 shares of company stock valued at $105,416,046 over the last three months.

Hedge Funds Weigh In On Circle Internet Group

Several large investors have recently modified their holdings of the stock. Toth Financial Advisory Corp bought a new position in Circle Internet Group during the third quarter worth about $93,000. Oak Thistle LLC bought a new position in Circle Internet Group during the third quarter worth about $1,535,000. Infini Capital Management Ltd bought a new position in Circle Internet Group during the second quarter worth about $1,124,000. China Universal Asset Management Co. Ltd. bought a new position in Circle Internet Group during the second quarter worth about $725,000. Finally, Claris Financial LLC bought a new position in Circle Internet Group in the 2nd quarter valued at about $749,000.

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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