Key Points
- Circle insider Nikhil Chandhok sold 26,668 shares for approximately $2.12 million at an average price of $79.59 under a pre-arranged Rule 10b5-1 plan. He retained 715,331 shares worth about $56.9 million.
- Circle shares opened at $84.65, with a market capitalization of approximately $21.49 billion and a 52-week range of $49.90 to $159.47. The company recently reported $701.32 million in quarterly revenue but missed earnings estimates, posting $0.18 EPS versus the $0.26 consensus.
- Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $97.82; institutional investors, including SBI Holdings USA, have also established or increased positions in the stock.
Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) insider Nikhil Chandhok sold 26,668 shares of the business's stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $79.59, for a total transaction of $2,122,506.12. Following the completion of the sale, the insider owned 715,331 shares of the company's stock, valued at approximately $56,933,194.29. The trade was a 3.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Nikhil Chandhok also recently made the following trade(s):
- On Tuesday, September 8th, Nikhil Chandhok sold 26,666 shares of Circle Internet Group stock. The stock was sold at an average price of $100.40, for a total value of $2,677,266.40.
- On Monday, August 10th, Nikhil Chandhok sold 26,666 shares of Circle Internet Group stock. The shares were sold at an average price of $67.15, for a total value of $1,790,621.90.
Circle Internet Group Stock Performance
Shares of Circle Internet Group stock opened at $84.65 on Friday. Circle Internet Group, Inc. has a 52-week low of $49.90 and a 52-week high of $159.47. The stock has a market capitalization of $21.49 billion, a price-to-earnings ratio of 57.98 and a beta of 0.73. The company's 50 day moving average price is $84.16 and its 200-day moving average price is $87.35.
Circle Internet Group (NYSE:CRCL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.08). The firm had revenue of $701.32 million for the quarter. Circle Internet Group had a net margin of 15.53% and a return on equity of 13.58%. The firm's revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($4.48) EPS. As a group, equities research analysts forecast that Circle Internet Group, Inc. will post 1.08 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in CRCL. Rockefeller Capital Management L.P. increased its position in shares of Circle Internet Group by 17.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 255,222 shares of the company's stock valued at $20,239,000 after buying an additional 38,567 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Circle Internet Group in the second quarter worth about $5,539,000. Fifth Third Bancorp bought a new stake in Circle Internet Group during the 1st quarter valued at approximately $7,282,000. Alberta Investment Management Corp bought a new stake in Circle Internet Group during the 4th quarter valued at approximately $25,027,000. Finally, SBI Holdings USA Inc. purchased a new position in shares of Circle Internet Group during the 2nd quarter worth approximately $101,084,820.
Analyst Ratings Changes
CRCL has been the subject of several recent analyst reports. Morgan Stanley lowered their price objective on shares of Circle Internet Group from $38.00 to $37.00 and set an "underweight" rating for the company in a research note on Thursday, August 6th. HC Wainwright cut their target price on Circle Internet Group from $115.00 to $104.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Robert W. Baird reduced their price target on Circle Internet Group from $138.00 to $100.00 and set an "outperform" rating on the stock in a report on Monday, July 13th. Raymond James Financial initiated coverage on Circle Internet Group in a research report on Tuesday, July 21st. They set a "market perform" rating for the company. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and set a $140.00 price target on shares of Circle Internet Group in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Circle Internet Group has a consensus rating of "Hold" and an average price target of $97.82.
Get Our Latest Stock Analysis on Circle Internet Group
Circle Internet Group Company Profile
(
Get Free Report)
Circle Internet Group, Inc is a global financial technology company that develops infrastructure for digital currencies and blockchain-based payments. Its primary product is USD Coin (USDC), a dollar-denominated stablecoin designed to maintain a stable value and support digital transactions, payments and transfers across blockchain networks. Circle also issues EURC, a euro-denominated stablecoin.
The company provides institutional and developer-focused services through Circle Mint, which enables eligible businesses to create, redeem and manage USDC and access related payment and treasury tools.
Further Reading
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