Circle Internet Group (NYSE:CRCL) Stock Price Down 1.4% - Should You Sell?

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report)'s share price was down 1.4% on Tuesday . The stock traded as low as $196.00 and last traded at $204.50. Approximately 11,971,537 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 42,429,887 shares. The stock had previously closed at $207.46.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CRCL shares. Mizuho assumed coverage on shares of Circle Internet Group in a report on Tuesday. They issued an "underperform" rating and a $85.00 price target on the stock. Oppenheimer assumed coverage on Circle Internet Group in a research note on Monday, June 30th. They issued a "market perform" rating on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Circle Internet Group in a research note on Monday, June 30th. They issued a "hold" rating and a $155.00 target price on the stock. Seaport Res Ptn raised Circle Internet Group to a "strong-buy" rating in a research note on Friday, June 20th. Finally, Citigroup assumed coverage on Circle Internet Group in a research note on Monday, June 30th. They issued a "buy" rating and a $243.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $179.30.

Circle Internet Group Stock Up 0.6%

The company has a market cap of $44.94 billion and a PE ratio of -15,960.17.

Insider Activity

In other news, insider Nikhil Chandhok sold 300,000 shares of the firm'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 transaction, the insider directly owned 605,580 shares of the company's stock, valued at approximately $17,743,494. This trade represents a 33.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Patrick Sean Neville sold 1,000,000 shares of the firm'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 $29,300,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,682,884 shares of company stock valued at $195,808,501.

Institutional Trading of Circle Internet Group

A number of institutional investors have recently modified their holdings of CRCL. Brand Asset Management Group Inc. purchased a new stake in shares of Circle Internet Group during the second quarter worth about $272,000. Westbourne Investments Inc. purchased a new stake in shares of Circle Internet Group during the second quarter worth about $204,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Circle Internet Group during the second quarter worth about $1,083,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Circle Internet Group during the second quarter worth about $673,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Circle Internet Group during the second quarter worth about $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.