Circle Internet Group (NYSE:CRCL) Stock: Insider Nikhil Chandhok Sells 26,668 Shares

Key Points

• Circle insider Nikhil Chandhok sold 26,668 shares for approximately $2.12 million under a pre-arranged Rule 10b5-1 plan, reducing his holdings by 3.59% to 715,331 shares.
• Circle shares rose 4.7% to $84.65, giving the company a market capitalization of about $21.49 billion. The stock remains well below its 52-week high of $159.47.
• Analysts maintain a broadly neutral outlook, with Circle receiving an average “Hold” rating and a consensus price target of $97.82; the company’s latest quarterly EPS of $0.18 missed estimates of $0.26 despite 6.6% year-over-year revenue growth.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) insider Nikhil Chandhok sold 26,668 shares of the company's stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $79.59, for a total value of $2,122,506.12. Following the completion of the sale, the insider directly owned 715,331 shares in the company, valued at $56,933,194.29. This trade represents a 3.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nikhil Chandhok also recently made the following trade(s):

• On Tuesday, September 8th, Nikhil Chandhok sold 26,666 shares of Circle Internet Group stock. The shares were sold at an average price of $100.40, for a total value of $2,677,266.40.
• On Monday, August 10th, Nikhil Chandhok sold 26,666 shares of Circle Internet Group stock. The stock was sold at an average price of $67.15, for a total value of $1,790,621.90.

Circle Internet Group Stock Up 4.7%

Shares of Circle Internet Group stock traded up $3.81 on Friday, hitting $84.65. The company's stock had a trading volume of 12,972,728 shares, compared to its average volume of 14,664,941. The company has a market capitalization of $21.49 billion, a P/E ratio of 57.98 and a beta of 0.73. Circle Internet Group, Inc. has a 52-week low of $49.90 and a 52-week high of $159.47. The firm has a fifty day moving average price of $83.72 and a 200-day moving average price of $87.37.

Circle Internet Group (NYSE:CRCL - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.08). The business had revenue of $701.32 million for the quarter. Circle Internet Group had a return on equity of 13.58% and a net margin of 15.53%.The company's revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($4.48) EPS. As a group, analysts expect that Circle Internet Group, Inc. will post 1.08 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. WPG Advisers LLC purchased a new position in shares of Circle Internet Group during the 1st quarter worth $31,000. First Horizon Corp purchased a new position in Circle Internet Group during the first quarter worth about $35,000. Abound Financial LLC acquired a new stake in Circle Internet Group in the 1st quarter worth about $38,000. Global Assets Advisory LLC purchased a new stake in Circle Internet Group in the 1st quarter valued at about $43,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Circle Internet Group by 28.6% during the 2nd quarter. GAMMA Investing LLC now owns 715 shares of the company's stock worth $45,000 after acquiring an additional 159 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods began coverage on Circle Internet Group in a report on Tuesday, September 8th. They set a "market perform" rating and a $105.00 target price on the stock. Wolfe Research upped their price objective on Circle Internet Group from $50.00 to $65.00 and gave the company an "underperform" rating in a research report on Tuesday, August 25th. Susquehanna reaffirmed a "neutral" rating on shares of Circle Internet Group in a research note on Tuesday, September 29th. Raymond James Financial initiated coverage on Circle Internet Group in a research report on Tuesday, July 21st. They set a "market perform" rating for the company. Finally, Wall Street Zen raised shares of Circle Internet Group from a "strong sell" rating to a "sell" rating in a research note on Saturday, October 3rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Circle Internet Group has an average rating of "Hold" and an average target price of $97.82.

About Circle Internet Group

Circle Internet Group, Inc is a global financial technology company that develops infrastructure for digital currencies and blockchain-based payments. Its primary product is USD Coin (USDC), a dollar-denominated stablecoin designed to maintain a stable value and support digital transactions, payments and transfers across blockchain networks. Circle also issues EURC, a euro-denominated stablecoin.

The company provides institutional and developer-focused services through Circle Mint, which enables eligible businesses to create, redeem and manage USDC and access related payment and treasury tools.

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