Circle Internet Group (NYSE:CRCL) Shares Down 2% Following Insider Selling

Circle Internet Group, Inc. (NYSE:CRCL) shares dropped 2% during trading on Thursday following insider selling activity. The company traded as low as $115.86 and last traded at $116.04. Approximately 2,170,949 shares changed hands during trading, a decline of 91% from the average daily volume of 23,615,447 shares. The stock had previously closed at $118.46.

Specifically, CFO Jeremy Fox-Geen sold 33,608 shares of Circle Internet Group stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $121.45, for a total value of $4,081,691.60. Following the transaction, the chief financial officer owned 297,823 shares of the company’s stock, valued at $36,170,603.35. The trade was a 10.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Analysts Set New Price Targets

A number of research firms recently commented on CRCL. Seaport Res Ptn upgraded shares of Circle Internet Group to a “strong-buy” rating in a research note on Friday, June 20th. Mizuho set a $85.00 target price on shares of Circle Internet Group in a research note on Tuesday, August 12th. JPMorgan Chase & Co. lifted their target price on shares of Circle Internet Group from $80.00 to $89.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 19th. Sanford C. Bernstein began coverage on shares of Circle Internet Group in a research note on Monday, June 30th. They issued an “outperform” rating and a $230.00 target price for the company. Finally, Compass Point cut shares of 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 research note on Monday, July 21st. One 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 stock. Based on data from MarketBeat.com, Circle Internet Group currently has a consensus rating of “Hold” and a consensus target price of $170.91.

Circle Internet Group Price Performance

The company’s 50 day simple moving average is $168.43. The stock has a market cap of $26.26 billion and a PE ratio of -9,044.57.

Institutional Investors Weigh In On Circle Internet Group

Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC purchased a new stake in shares of Circle Internet Group during the second quarter worth $27,000. North Star Investment Management Corp. purchased a new stake in shares of Circle Internet Group during the second quarter worth $34,000. Hennessy Advisors Inc. purchased a new stake in shares of Circle Internet Group during the second quarter worth $36,000. Allworth Financial LP purchased a new stake in shares of Circle Internet Group during the second quarter worth $37,000. Finally, Chilton Capital Management LLC purchased a new stake in shares of Circle Internet Group during the second quarter worth $40,000.

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.