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

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

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CRCL. Baird R W upgraded shares of Circle Internet Group to a “hold” rating in a report on Friday, July 11th. Robert W. Baird cut their price target on shares of Circle Internet Group from $210.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, August 13th. Mizuho set a $85.00 price target on shares of Circle Internet Group in a report on Tuesday, August 12th. Citigroup began coverage on shares of Circle Internet Group in a report on Monday, June 30th. They set a “buy” rating and a $243.00 price target on the stock. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $247.00 price target on shares of Circle Internet Group in a report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $170.91.

Circle Internet Group Trading Down 2.6%

The stock has a market cap of $26.26 billion and a price-to-earnings ratio of -9,044.57. The stock’s fifty day simple moving average is $168.43.

Hedge Funds Weigh In On Circle Internet Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Infini Capital Management Ltd acquired a new position in Circle Internet Group in the second quarter valued at $1,124,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Circle Internet Group during the second quarter valued at about $725,000. Claris Financial LLC acquired a new position in shares of Circle Internet Group during the second quarter valued at about $749,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Circle Internet Group during the second quarter valued at about $1,953,000. Finally, Marex Group plc acquired a new position in shares of Circle Internet Group during the second quarter valued at about $3,321,000.

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.