Key Points
- Circle Internet Group insider Nikhil Chandhok sold 10,000 shares on May 21 at an average price of $111, totaling about $1.11 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Chandhok still owned 532,745 shares valued at roughly $59.1 million, and the sale represented a 1.84% reduction in his position. He has also sold shares in several prior months.
- Circle reported Q1 earnings of $0.21 per share, missing estimates, while revenue rose 20% year over year to $694.13 million. Analysts currently have a consensus rating of Hold with an average price target of $137.12.
Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) insider Nikhil Chandhok sold 10,000 shares of the firm's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $111.00, for a total value of $1,110,000.00. Following the transaction, the insider owned 532,745 shares in the company, valued at approximately $59,134,695. This trade represents a 1.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Tuesday, April 21st, Nikhil Chandhok sold 10,000 shares of Circle Internet Group stock. The shares were sold at an average price of $104.00, for a total value of $1,040,000.00.
- 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 value 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 value of $1,800,000.00.
Circle Internet Group Stock Down 1.6%
NYSE CRCL opened at $113.07 on Friday. The company has a market cap of $27.91 billion and a price-to-earnings ratio of -35.33. Circle Internet Group, Inc. has a twelve month low of $49.90 and a twelve month high of $298.99. The business's fifty day moving average is $107.13 and its 200 day moving average is $89.47.
Circle Internet Group (NYSE:CRCL - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.06). The company had revenue of $694.13 million for the quarter. Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.The business's quarterly revenue was up 20.0% compared to the same quarter last year. On average, research analysts anticipate that Circle Internet Group, Inc. will post 1.05 earnings per share for the current fiscal year.
Institutional Trading of Circle Internet Group
A number of institutional investors have recently modified their holdings of the company. Bartlett & CO. Wealth Management LLC purchased a new stake in Circle Internet Group in the fourth quarter worth about $25,000. Larson Financial Group LLC increased its stake in shares of Circle Internet Group by 3,800.0% during the third 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 Circle Internet Group in the 3rd quarter worth approximately $27,000. EverSource Wealth Advisors LLC purchased a new position in Circle Internet Group in the 2nd quarter worth approximately $27,000. Finally, Bellevue Asset Management LLC purchased a new position in Circle Internet Group in the 4th quarter worth approximately $29,000.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $101.00 target price on shares of Circle Internet Group in a research report on Tuesday, May 12th. Robert W. Baird boosted their target price on Circle Internet Group from $110.00 to $138.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 17th. Compass Point reiterated a "sell" rating and issued a $77.00 price objective (down from $79.00) on shares of Circle Internet Group in a research note on Thursday, April 9th. Wall Street Zen downgraded Circle Internet Group from a "hold" rating to a "sell" rating in a research note on Saturday, April 11th. Finally, Needham & Company LLC increased their target price on Circle Internet Group from $130.00 to $150.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Circle Internet Group has an average rating of "Hold" and a consensus price target of $137.12.
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Circle Internet Group Company Profile
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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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