Circle Internet Group (NYSE:CRCL) Shares Down 5.8% – Here’s What Happened

by · The Markets Daily

Shares of Circle Internet Group, Inc. (NYSE:CRCL – Get Free Report) dropped 5.8% on Friday . The stock traded as low as $82.03 and last traded at $83.3980. Approximately 13,733,353 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 18,481,117 shares. The stock had previously closed at $88.57.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRCL. Mizuho reduced their price target on Circle Internet Group from $84.00 to $70.00 and set an “underperform” rating for the company in a report on Friday, November 14th. JPMorgan Chase & Co. raised shares of Circle Internet Group from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $94.00 to $100.00 in a research report on Thursday, November 13th. Canaccord Genuity Group reiterated a “buy” rating and issued a $247.00 target price on shares of Circle Internet Group in a research note on Thursday, September 11th. Oppenheimer assumed coverage on shares of Circle Internet Group in a research note on Friday, September 12th. They set a “market perform” rating on the stock. Finally, Baird R W raised shares of Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $144.69.

View Our Latest Research Report on CRCL

Circle Internet Group Stock Down 5.8%

The company’s 50-day moving average price is $106.97.

Circle Internet Group (NYSE:CRCL – Get Free Report) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.44. The business had revenue of $739.76 million for the quarter. The firm’s revenue was up 65.9% on a year-over-year basis.

Insiders Place Their Bets

In other Circle Internet Group news, CAO Tamara L. Schulz sold 1,000 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $78.02, for a total value of $78,020.00. Following the completion of the sale, the chief accounting officer directly owned 89,317 shares of the company’s stock, valued at $6,968,512.34. This represents a 1.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Danita K. Ostling sold 2,662 shares of the stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $84.69, for a total transaction of $225,444.78. Following the completion of the sale, the director directly owned 26,290 shares of the company’s stock, valued at approximately $2,226,500.10. This trade represents a 9.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 618,847 shares of company stock valued at $49,268,665 over the last ninety days.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CRCL. Larson Financial Group LLC lifted its stake in shares of Circle Internet Group by 3,800.0% in the third quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after buying an additional 190 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new position in Circle Internet Group during the third quarter valued at about $27,000. EverSource Wealth Advisors LLC acquired a new position in Circle Internet Group in the 2nd quarter valued at approximately $27,000. Highline Wealth Partners LLC bought a new stake in shares of Circle Internet Group in the 3rd quarter worth approximately $32,000. Finally, Montag A & Associates Inc. acquired a new stake in shares of Circle Internet Group during the 3rd quarter worth approximately $33,000.

Circle Internet Group Company Profile

(Get Free Report)

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.

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