Circle Internet Group (NYSE:CRCL) Sets New 1-Year Low – Should You Sell?

Circle Internet Group, Inc. (NYSE:CRCL) hit a new 52-week low during trading on Friday . The company traded as low as $63.02 and last traded at $63.2290, with a volume of 7020168 shares changing hands. The stock had previously closed at $67.55.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CRCL shares. Compass Point raised Circle Internet Group from a “sell” rating to a “neutral” rating and set a $75.00 price objective for the company in a report on Thursday. Mizuho set a $77.00 price target on shares of Circle Internet Group and gave the stock a “neutral” rating in a report on Wednesday. Needham & Company LLC lowered their price objective on Circle Internet Group from $250.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Circle Internet Group in a report on Wednesday, January 21st. Finally, Robert W. Baird upgraded Circle Internet Group from a “hold” rating to a “strong-buy” rating in a report on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $136.47.

Circle Internet Group Stock Down 5.4%

The company has a market cap of $15.04 billion and a PE ratio of -27.89. The business has a 50-day simple moving average of $79.41 and a 200-day simple moving average of $117.21.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.20 by $0.44. The business had revenue of $739.76 million during the quarter. The firm’s revenue for the quarter was up 65.9% on a year-over-year basis.

Insider Activity

In related news, CEO Jeremy Allaire sold 7,055 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $90.07, for a total value of $635,443.85. Following the sale, the chief executive officer owned 70,517 shares of the company’s stock, valued at $6,351,466.19. This trade represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nikhil Chandhok sold 10,000 shares of Circle Internet Group stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $90.00, for a total transaction of $900,000.00. Following the sale, the insider directly owned 474,974 shares of the company’s stock, valued at approximately $42,747,660. This trade represents a 2.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 722,089 shares of company stock valued at $58,540,227.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. GC Wealth Management RIA LLC acquired a new position in Circle Internet Group in the fourth quarter valued at $18,165,000. Simplicity Wealth LLC purchased a new stake in shares of Circle Internet Group in the fourth quarter valued at about $1,215,000. Wealthfront Advisers LLC purchased a new stake in Circle Internet Group in the 4th quarter valued at approximately $272,000. Comerica Bank boosted its stake in shares of Circle Internet Group by 8,291.6% in the fourth quarter. Comerica Bank now owns 72,252 shares of the company’s stock valued at $5,730,000 after buying an additional 71,391 shares in the last quarter. Finally, State of Michigan Retirement System purchased a new stake in shares of Circle Internet Group during the 4th quarter worth $565,000.

About Circle Internet Group

Circle Internet Group (NYSE: CRCL) is a financial technology company that builds infrastructure to enable businesses and developers to use and move money on public blockchains. Co-founded by Jeremy Allaire and Sean Neville, the company is best known as a principal issuer and steward of USD Coin (USDC), a dollar-pegged stablecoin developed through the CENTRE Consortium, which Circle co-founded with Coinbase. Jeremy Allaire serves as CEO and has been a visible leader in the company’s strategy and public engagement around digital currency and payments innovation.

Circle’s core products and services center on digital currency issuance and programmable payments.