Circle Internet Group (NYSE:CRCL) Insider Nikhil Chandhok Sells 10,000 Shares of Stock

Circle Internet Group, Inc. (NYSE:CRCL) insider Nikhil Chandhok sold 10,000 shares of Circle Internet Group stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $104.00, for a total transaction of $1,040,000.00. Following the completion of the sale, the insider directly owned 536,561 shares in the company, valued at $55,802,344. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a document filed 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 Monday, March 23rd, Nikhil Chandhok sold 10,000 shares of Circle Internet Group stock. The stock was sold at an average price of $123.08, for a total transaction of $1,230,800.00.
• On Thursday, February 26th, Nikhil Chandhok sold 20,000 shares of Circle Internet Group stock. The stock was sold at an average price of $90.00, for a total transaction of $1,800,000.00.

Circle Internet Group Trading Down 4.2%

NYSE:CRCL opened at $100.03 on Friday. The stock has a market capitalization of $24.69 billion and a PE ratio of -53.78. The firm’s 50 day moving average is $96.65 and its 200 day moving average is $92.96. Circle Internet Group, Inc. has a 12 month low of $49.90 and a 12 month high of $298.99.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.18. The company had revenue of $770.23 million during the quarter. The company’s revenue was up 76.9% on a year-over-year basis. Research analysts predict that Circle Internet Group, Inc. will post 0.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of Circle Internet Group from $79.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, January 5th. Clear Str upgraded shares of Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 16th. Wall Street Zen lowered shares of Circle Internet Group from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. JPMorgan Chase & Co. reduced their price objective on shares of Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, February 10th. Finally, Needham & Company LLC reduced their price objective on shares of Circle Internet Group from $190.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $127.24.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CRCL. Bartlett & CO. Wealth Management LLC purchased a new position in Circle Internet Group in the 4th quarter valued at approximately $25,000. Larson Financial Group LLC grew its position in shares of Circle Internet Group by 3,800.0% during the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after purchasing an additional 190 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Circle Internet Group during the 3rd quarter valued at $27,000. EverSource Wealth Advisors LLC purchased a new position in shares of Circle Internet Group during the 2nd quarter valued at $27,000. Finally, Bellevue Asset Management LLC purchased a new position in shares of Circle Internet Group during the 4th quarter valued at $29,000.

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 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.