Insiders Trades
Circus SE Stock: price and insider trades · Germany
1 insider bought €11k of shares over the last 90 days, the latest filed 20 Jul 2026.
Circus SE: what insiders have been doing
This page follows insider dealings at Circus SE as filed with BaFin, a company from the Technology sector based in Munich, Germany. The group dates from 2021. 2 insiders have disclosed 12 filings since 18 October 2025.
No insider sold shares on the market over the period. Instead, the filings list 11 purchases totalling €137k, made by 2 insiders. Open-market purchases are the filings investors watch most closely, because the insider pays for the shares out of pocket. The largest single trade was a purchase of €20k by Nikolas Bullwinkel Beteiligungs UG (haftungsbeschränkt), published on 30 January 2026. On the buying side, the filings list 1 senior executive among the declarants.
In all, 4 purchases were made within 30 days of a purchase by another insider of the company. Such overlaps are known as a cluster signal: distinct people reaching the same decision at about the same time. The clock since the last published purchase (20 July 2026) now reads 89 days. Publication is fast: at least half of the trades appear on BaFin on the same day. The regulation allows three business days to notify a trade (MAR article 19).
Across the 287 companies tracked on its exchange, the median is 5 filings; at 12 filings, this issuer sits above that mark. Looking back to 2025, when coverage begins, insiders filed 12 purchases and no sales.
Elsewhere in the same sector, our signals recently picked up insider purchases at Core Scientific, Inc./tx and Gitlab Inc. Source: insider filings from BaFin. Past trades are no guide to future returns.
Key facts
Headquarters: Munich, Germany · Founded: 2021
Source: Wikidata (CC0).
Insider Decl.
13
Thresholds
n/a
Buy Volume
€146,759
12 ops. · all time
Sell Volume
n/a
n/a
Who traded when
BuySaleNikolas Bullwinkel Beteiligungs UG (haftungsbeschränkt)9 buys
Dr. Jan-Christian Heins5 buys
Since the insiders bought
- -18.0%Entry €1.97 · Close 16 Oct 2026 €1.61
- +1.3%Entry €6.20 · Close at T+90 €6.28
Entry is the close on the day after publication, the first price a reader could act on. Prices in the listing currency. Past moves are not a forecast.
Fundamental score
Ranked 24,102 of 24,148 companies
3.2
score / 100
Value3
Quality3
FCF yld-71%
Earn yld-58%
EV/EBITDA·
ROE-117%
Gross mgn3.3%
Net mgn·
Debt/EBITDA·
Pillars2/3
Transparent value + quality ranking, distinct from the insider signal.
Financial data
as of FY 2025FY ended December 2025 · cache
€1.59
Analyst consensus
3 analysts1.67/5
€2.20Target €4.53(+185%)€8.40
Income statement
Revenue€1.6M
Gross profit€52k3% margin
EBITDA-€18.8M-1204% margin
Net income-€21.8M-1395.4% margin
Valuation
PER (forward)-4.1x
P/Book1.2x
Beta1.40
Balance sheet & cash
Market cap€37.8M
Total debt€9.3M
Free Cash Flow-€27.0M
Debt / Equity27%
Profitability & ownership
ROE-117.4%
ROA-40.0%
% insiders59.0%
% institutions4.3%
Last declaration on 20 July 2026
Declarations13 total
5,003.651 shares@ €2.150.024% mcap26.3% of flowShareXetraISIN DE000A2YN355BAFIN:40035793-824a9e6b6f40
Canonical exit: 15 Oct 2026 (T+90)
1,899 shares@ €6.600.020% mcap2.1% of flowShareXetraISIN DE000A2YN355BAFIN:40035793-4aeeec191bb1
Canonical exit: 15 Jun 2026 (T+90)
1,875 shares@ €6.460.019% mcap2.0% of flowShareXetraISIN DE000A2YN355BAFIN:40035793-2d42035be6a1
Canonical exit: 14 Jun 2026 (T+90)
2,411 shares@ €6.360.024% mcap2.5% of flowShareXetraISIN DE000A2YN355BAFIN:40035793-82cddc45e894
Canonical exit: 11 Jun 2026 (T+90)
1,388 shares@ €7.2624.6% of flowShareXetraISIN DE000A2YN355BAFIN:40035793-c70382d422d2
Canonical exit: 26 May 2026 (T+90)
1,555 shares@ €9.242.4% of flowShareXetraISIN DE000A2YN355BAFIN:40035793-d3661a97541b
Canonical exit: 6 May 2026 (T+90)
1,227 shares@ €9.281.9% of flowShareXetraISIN DE000A2YN355BAFIN:40035793-ffa3c294b47f
Canonical exit: 4 May 2026 (T+90)
1,138 shares@ €8.781.6% of flowShareXetraISIN DE000A2YN355BAFIN:40035793-2afd46a90957
Canonical exit: 3 May 2026 (T+90)
1,069 shares@ €9.381.7% of flowShareXetraISIN DE000A2YN355BAFIN:40035793-37ab3d1bd7a2
Canonical exit: 30 Apr 2026 (T+90)
2,023 shares@ €9.903.3% of flowShareISIN DE000A2YN355BAFIN:40035793-ab91b6a3bb56
Canonical exit: 29 Apr 2026 (T+90)
806 shares@ €12.5024.6% of flowShareTradegateISIN DE000A2YN355BAFIN:40035793-2c39cf3fc3f8
Canonical exit: 9 Mar 2026 (T+90)
40,982.213 shares@ €12.2082.5% of flowShareISIN DE000A2YN355BAFIN:40035793-8d99bcf9601b
709 shares@ €14.2024.6% of flowShareXETRAISIN DE000A2YN355BAFIN:40035793
Canonical exit: 28 Sept 2025 (T+90)
13 of 13 declarations
About Circus SE
Circus SE is a German technology company listed on Xetra/Frankfurt (DAX/MDAX/SDAX) under ticker CA1.DE, and incorporated in Germany. The group sits at the intersection of artificial intelligence, autonomous robotics, and food-service automation. Founded in 2021 by entrepreneur Nikolas Bullwinkel, Circus initially built its software layer, CircusOS, before evolving into an integrated robotics model for autonomous meal production and delivery. In June 2025, the company relocated its global headquarters to Munich, strengthening its presence in one of Germany’s leading technology hubs. ([circus-group.com](https://www.circus-group.com/about-us?utm_source=openai))
Circus’ flagship product is the CA-1, which the company describes as an autonomous food-production robot powered by proprietary software and embodied AI. Its core market is food service, with a focus on high-throughput environments such as corporate catering, hospitality, and other complex operational settings where consistency, labor efficiency, and food safety matter. The company has also developed the CA-M, an autonomous meal-supply system designed for defense and field operations, expanding the addressable market beyond civilian kitchens. This broader product strategy gives Circus a differentiated positioning at the convergence of robotics, logistics, and mission-critical automation. ([circus-group.com](https://www.circus-group.com/articles/circus-introduces-ai-robot-for-defense-operations?utm_source=openai))
Read moreShow less
From a competitive standpoint, Circus seeks to stand out by offering an end-to-end platform that combines robotics hardware, orchestration software, service, and industrialized manufacturing. The company has highlighted a production partnership with Celestica, a global electronics manufacturing partner, to support scale-up and supply-chain execution. Management also points to early deployments with high-profile customers, including Meta in Munich and REWE, as evidence that the platform is moving from development into real-world commercialization. These references matter for investors, although the company is still in a scale-up phase and execution risk remains material. ([circus-group.com](https://www.circus-group.com/articles/circus-se-publishes-2024-annual-report-marking-the-completion-of-the-r-d-phase?utm_source=openai))
Recent milestones include the completion of CA-1 industrialization and readiness for high-volume production in March 2025, the launch of CA-M in April 2025, the headquarters move to Munich in June 2025, the first CA-1 deployment at Meta in September 2025, and a capital increase completed at the end of 2025. In April 2026, Circus also announced the acquisition of Kitchen Robotics (K-Robotics), framing the transaction as a reinforcement of its IP base and a step toward U.S. market entry. For investors, Circus SE is a high-growth, innovation-led equity story with meaningful upside potential, but also significant operational and financing risk. ([circus-group.com](https://www.circus-group.com/articles/circus-se-achieves-readiness-for-high-volume-production-of-ca-1-robot-unlocking-deliveries-from-mid-2025?utm_source=openai))
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