Key Points
- Circle insider Nikhil Chandhok sold 26,668 shares at an average $66.09, totaling about $1.76 million. The sale was made under a pre-arranged Rule 10b5-1 plan; he retained 708,181 shares afterward.
- Circle reported quarterly EPS of $0.84, beating the $0.42 consensus, while revenue rose 16.9% year over year to $864.89 million.
- Analysts’ average price target is $91.44, but the consensus rating is “Hold”; shares opened at $64.81, well below their 50- and 200-day moving averages.
Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) insider Nikhil Chandhok sold 26,668 shares of the business's stock in a transaction on Monday, November 9th. The shares were sold at an average price of $66.09, for a total transaction of $1,762,488.12. Following the sale, the insider owned 708,181 shares in the company, valued at approximately $46,803,682.29. This trade represents a 3.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 Thursday, October 8th, Nikhil Chandhok sold 26,668 shares of Circle Internet Group stock. The stock was sold at an average price of $79.59, for a total transaction of $2,122,506.12.
- 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 transaction of $2,677,266.40.
Circle Internet Group Price Performance
Shares of NYSE CRCL opened at $64.81 on Wednesday. Circle Internet Group, Inc. has a 1 year low of $49.90 and a 1 year high of $140.00. The stock has a market cap of $16.45 billion, a P/E ratio of 39.04 and a beta of 0.84. The firm has a 50-day moving average of $84.44 and a 200 day moving average of $85.58.
Circle Internet Group (NYSE:CRCL - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.42 by $0.42. The business had revenue of $864.89 million for the quarter. Circle Internet Group had a net margin of 15.27% and a return on equity of 13.10%. The company's revenue was up 16.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. Research analysts expect that Circle Internet Group, Inc. will post 1.20 earnings per share for the current fiscal year.
Institutional Trading of Circle Internet Group
Several institutional investors have recently bought and sold shares of CRCL. Private Advisor Group LLC increased its stake in Circle Internet Group by 29.9% during the 3rd quarter. Private Advisor Group LLC now owns 15,925 shares of the company's stock valued at $1,309,000 after purchasing an additional 3,661 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new position in Circle Internet Group in the third quarter worth about $667,000. Global Retirement Partners LLC lifted its stake in shares of Circle Internet Group by 11.4% in the third quarter. Global Retirement Partners LLC now owns 2,401 shares of the company's stock worth $197,000 after buying an additional 245 shares in the last quarter. Cibc World Market Inc. lifted its stake in shares of Circle Internet Group by 12.8% in the third quarter. Cibc World Market Inc. now owns 7,358 shares of the company's stock worth $605,000 after buying an additional 837 shares in the last quarter. Finally, Banco Santander S.A. lifted its stake in shares of Circle Internet Group by 9.6% in the third quarter. Banco Santander S.A. now owns 26,079 shares of the company's stock worth $2,143,000 after buying an additional 2,285 shares in the last quarter.
Analysts Set New Price Targets
CRCL has been the subject of several recent research reports. Wells Fargo & Company lowered their target price on shares of Circle Internet Group from $115.00 to $101.00 and set an "overweight" rating for the company in a report on Thursday, November 5th. Barclays downgraded Circle Internet Group to a "positive" rating in a research note on Thursday, November 5th. Citigroup began coverage on Circle Internet Group in a research report on Thursday, November 5th. They set a "buy" rating for the company. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $140.00 price objective on shares of Circle Internet Group in a research report on Wednesday, July 29th. Finally, William Blair reiterated an "outperform" rating on shares of Circle Internet Group in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $91.44.
Read Our Latest Stock Report on Circle Internet Group
About Circle Internet Group
(
Get Free Report)
Circle Internet Group develops digital financial infrastructure centered on stablecoins and blockchain-based payments. Its principal products include USDC, a U.S. dollar-pegged stablecoin, and EURC, a euro-pegged stablecoin. The company also provides services and software that help businesses use digital currencies for payments and financial applications. Circle Mint is a platform for eligible institutions to mint and redeem USDC and EURC. Circle also offers developer tools and infrastructure, including its Cross-Chain Transfer Protocol, which supports the movement of USDC across compatible blockchains.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
