Circle Internet Group (NYSE:CRCL) Trading Down 7% Following Insider Selling

Shares of Circle Internet Group, Inc. (NYSE:CRCL) dropped 7% on Friday after an insider sold shares in the company. The company traded as low as $108.10 and last traded at $109.26. Approximately 5,376,639 shares were traded during trading, a decline of 77% from the average daily volume of 23,383,209 shares. The stock had previously closed at $117.49.

Specifically, CFO Jeremy Fox-Geen sold 33,608 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $121.45, for a total transaction of $4,081,691.60. Following the completion of the transaction, the chief financial officer owned 297,823 shares in the company, valued at approximately $36,170,603.35. This represents a 10.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Compass Point cut Circle Internet Group from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $205.00 to $130.00 in a report on Monday, July 21st. Seaport Res Ptn upgraded Circle Internet Group to a “strong-buy” rating in a report on Friday, June 20th. Oppenheimer assumed coverage on Circle Internet Group in a report on Tuesday, August 12th. They set a “market perform” rating for the company. Barclays assumed coverage on Circle Internet Group in a report on Monday, June 30th. They set an “overweight” rating and a $215.00 target price for the company. Finally, Robert W. Baird lowered their target price on Circle Internet Group from $210.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $170.91.

Circle Internet Group Trading Down 2.6%

The firm has a 50 day simple moving average of $168.43. The company has a market capitalization of $26.26 billion and a PE ratio of -9,044.57.

Institutional Trading of Circle Internet Group

A number of hedge funds and other institutional investors have recently modified their holdings of CRCL. EverSource Wealth Advisors LLC bought a new stake in shares of Circle Internet Group during the second quarter worth $27,000. North Star Investment Management Corp. bought a new stake in shares of Circle Internet Group during the second quarter worth $34,000. Hennessy Advisors Inc. bought a new stake in shares of Circle Internet Group during the second quarter worth $36,000. Allworth Financial LP bought a new stake in shares of Circle Internet Group during the second quarter worth $37,000. Finally, Chilton Capital Management LLC acquired a new position in shares of Circle Internet Group during the second quarter worth $40,000.

Circle Internet Group Company Profile

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.