Key Points
- Nikhil Chandhok sold 10,000 shares of Circle (CRCL) on April 21 at an average price of $104 under a Rule 10b5-1 plan for $1.04M, reducing his stake to 536,561 shares (a 1.83% decrease); this follows prior sales of 30,000 shares earlier this year (totaling 40,000 shares sold).
- Circle reported a quarterly EPS of $0.43 (vs. $0.25 expected) and revenue up 76.9% to $770.23M, but analyst coverage is mixed with a consensus "Hold" and an average price target of $127.24.
Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) insider Nikhil Chandhok sold 10,000 shares of the business's stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $104.00, for a total transaction of $1,040,000.00. Following the transaction, the insider owned 536,561 shares of the company's stock, valued at $55,802,344. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 shares were 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 shares were sold at an average price of $90.00, for a total transaction of $1,800,000.00.
Circle Internet Group Price Performance
CRCL opened at $100.03 on Friday. The company has a fifty day moving average price of $96.65 and a 200-day moving average price of $92.96. The firm has a market capitalization of $24.69 billion and a P/E ratio of -53.78. Circle Internet Group, Inc. has a one year low of $49.90 and a one year high of $298.99.
Circle Internet Group (NYSE:CRCL - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.18. The firm had revenue of $770.23 million for the quarter. The firm's revenue for the quarter was up 76.9% compared to the same quarter last year. On average, analysts expect that Circle Internet Group, Inc. will post 0.84 earnings per share for the current year.
Analyst Ratings Changes
CRCL has been the subject of a number of recent analyst reports. Clear Str upgraded shares of Circle Internet Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 16th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $160.00 price objective on shares of Circle Internet Group in a report on Wednesday, March 25th. Morgan Stanley set a $80.00 price objective on shares of Circle Internet Group in a report on Monday. Freedom Capital raised shares of Circle Internet Group to a "hold" rating in a report on Tuesday. Finally, Needham & Company LLC dropped 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 report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $127.24.
Read Our Latest Stock Analysis on CRCL
Institutional Trading of Circle Internet Group
A number of hedge funds have recently made changes to their positions in the stock. General Catalyst Group Management LLC bought a new stake in shares of Circle Internet Group during the 2nd quarter worth $3,647,694,000. Marshall Wace LLP lifted its holdings in shares of Circle Internet Group by 23.8% during the 4th quarter. Marshall Wace LLP now owns 9,978,729 shares of the company's stock worth $791,313,000 after acquiring an additional 1,919,205 shares during the last quarter. IDG Accel China Capital II Associates L.P. bought a new stake in shares of Circle Internet Group during the 4th quarter worth $554,792,000. Accel XI Associates L.L.C. bought a new stake in Circle Internet Group in the fourth quarter worth $513,844,000. Finally, Vanguard Group Inc. lifted its stake in Circle Internet Group by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 5,653,110 shares of the company's stock worth $448,292,000 after purchasing an additional 74,414 shares during the last quarter.
About Circle Internet Group
(
Get Free Report)
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.
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