Insider Trading November 11, 2026 01:46 AM

Circle Internet Product Chief Offloads $1.76 Million in Shares Under Pre-Set Plan

Nikhil Chandhok's sale of 26,668 shares comes as the stock sits well below recent highs, though the transaction was executed under a 10b5-1 trading arrangement.

By Marcus Reed
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CRCL

Nikhil Chandhok, Chief Product & Technology Officer at Circle Internet Group (NASDAQ:CRCL), sold 26,668 Class A shares for $1,762,488 at $66.09 per share on November 9, 2026, under a pre-arranged 10b5-1 trading plan. Concurrently, he exercised options for 23,334 shares at $25.81, acquiring $602,250 worth of stock. Following these moves, Chandhok directly holds 708,181 Class A shares, including 456,948 held outright and 251,233 issuable upon vesting of restricted stock units, plus 284,181 derivative securities in the form of stock options. The transactions occur as Circle's stock trades at $64.98, down roughly 15% over the past week and 51% over the last six months, with a market capitalization of $16.67 billion. The company recently reported third-quarter 2026 adjusted earnings of $0.84 per share on revenue of $865 million, surpassing analysts' expectations of $0.23 per share, partly driven by a $182 million ARC token presale that contributed to a 17% increase in total revenue and reserve income from the previous year. Circle's CPN annualized payment volumes exceeded $58 billion by the end of October, up from $23 billion in July. Analyst actions include a Compass Point upgrade to Buy with a $99 price target, H.C. Wainwright trimming its target to $100 from $104 while maintaining a Buy rating, and Mizuho raising its target to $46 from $43 while keeping an Underperform rating.

Circle Internet Product Chief Offloads $1.76 Million in Shares Under Pre-Set Plan
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Key Points

  • Nikhil Chandhok sold 26,668 Class A shares for $1.76 million at $66.09 per share under a pre-arranged 10b5-1 trading plan, while separately exercising options for 23,334 shares at $25.81.
  • The sale occurs as Circle's stock trades at $64.98, down roughly 15% over the past week and 51% over the last six months, though the company remains profitable with a $16.67 billion market cap.
  • Circle recently reported third-quarter 2026 adjusted earnings of $0.84 per share on revenue of $865 million, beating expectations, with CPN annualized payment volumes exceeding $58 billion by the end of October.
  • Analyst ratings are split: Compass Point upgraded to Buy with a $99 target, H.C. Wainwright maintained Buy with a $100 target, and Mizuho kept Underperform with a $46 target.

Circle Internet Group, Inc. (NASDAQ:CRCL) disclosed that its Chief Product & Technology Officer, Nikhil Chandhok, disposed of 26,668 shares of Class A Common Stock on November 9, 2026, at a price of $66.09 per share. The sale totaled $1,762,488 and was carried out under a pre-arranged 10b5-1 trading plan.

The transaction unfolded against a challenging backdrop for the stock. Circle's shares were changing hands at $64.98 at the time of the disclosure, marking a decline of roughly 15% over the prior week and 51% over the past six months. Despite that pullback, the company maintains profitability and a market capitalization of $16.67 billion. An analysis of the stock at current levels suggests it appears undervalued.

In a related move, Chandhok exercised stock options to acquire 23,334 shares of Class A Common Stock at $25.81 per share, a transaction valued at $602,250. Those options formed part of an award under which a portion vested after one year, with the remainder vesting in monthly installments, subject to his continued service.

Following these transactions, Chandhok beneficially owns 708,181 shares of Class A Common Stock directly. That figure comprises 456,948 shares held outright and 251,233 shares issuable upon the vesting of restricted stock units. He also holds 284,181 derivative securities in the form of stock options.


Operational and Financial Momentum

The insider activity arrives after a quarter in which Circle Internet Group reported a significant earnings beat for the third quarter of 2026. The company posted adjusted earnings of $0.84 per share, well above analysts' expectations of $0.23, and generated revenue of $865 million. Growth was partly driven by a $182 million ARC token presale, which contributed to a 17% increase in total revenue and reserve income from the previous year.

Separately, Circle's CPN annualized payment volumes exceeded $58 billion by the end of October, a substantial rise from $23 billion in July.

Analyst Views Diverge

Analyst activity around Circle Internet has been mixed. Compass Point upgraded the stock to a Buy rating with a price target of $99, highlighting its potential as a key player in the crypto market. H.C. Wainwright adjusted its price target to $100 from $104 while maintaining a Buy rating, emphasizing the company's strong third-quarter performance. On the other hand, Mizuho raised its price target to $46 from $43 while keeping an Underperform rating, expressing concerns over the reliance on token sales rather than fundamental business improvements. These developments reflect the diverse perspectives among analysts regarding Circle Internet's future prospects.

The disclosed transactions and the surrounding analyst commentary offer a snapshot of the varying views on Circle's trajectory, set against a stock that has experienced notable volatility over recent months.

Risks

  • The stock's sharp decline - down 51% over six months - may reflect underlying concerns about the company's reliance on token sales, as highlighted by Mizuho's Underperform rating.
  • Insider selling, even under a pre-arranged plan, could be perceived negatively by investors, potentially adding pressure to a stock that has already seen significant weakness.
  • Analyst price targets vary widely, from $46 to $100, indicating uncertainty about the company's fundamental outlook and the sustainability of its recent earnings beat.

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