Circle Internet Group, Inc. (NYSE:CRCL – Get Free Report) insider Hossein Razzaghi sold 1,831 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $73.06, for a total transaction of $133,772.86. Following the completion of the transaction, the insider owned 637,770 shares in the company, valued at $46,595,476.20. This trade represents a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Hossein Razzaghi also recently made the following trade(s):
- On Friday, October 2nd, Hossein Razzaghi sold 1,830 shares of Circle Internet Group stock. The stock was sold at an average price of $85.78, for a total transaction of $156,977.40.
- On Wednesday, September 2nd, Hossein Razzaghi sold 7,458 shares of Circle Internet Group stock. The shares were sold at an average price of $87.87, for a total transaction of $655,334.46.
Circle Internet Group Stock Up 4.5%
NYSE CRCL opened at $75.33 on Wednesday. The firm has a 50-day moving average price of $86.71 and a two-hundred day moving average price of $85.71. Circle Internet Group, Inc. has a 12-month low of $49.90 and a 12-month high of $140.00. The company has a market capitalization of $19.13 billion, a P/E ratio of 49.37 and a beta of 0.84.
Circle Internet Group (NYSE:CRCL – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.08). Circle Internet Group had a return on equity of 13.58% and a net margin of 15.53%. The business had revenue of $701.32 million for the quarter. During the same quarter in the previous year, the company earned ($4.48) earnings per share. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities analysts expect that Circle Internet Group, Inc. will post 1.12 EPS for the current year.
Hedge Funds Weigh In On Circle Internet Group
Several hedge funds and other institutional investors have recently made changes to their positions in the company. WPG Advisers LLC acquired a new stake in shares of Circle Internet Group during the 1st quarter worth approximately $31,000. Pinnacle Wealth Planning Services Inc. increased its stake in Circle Internet Group by 952.8% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 379 shares of the company’s stock valued at $31,000 after acquiring an additional 343 shares during the last quarter. First Horizon Corp bought a new position in Circle Internet Group in the first quarter valued at approximately $35,000. Abound Financial LLC acquired a new position in Circle Internet Group during the first quarter valued at approximately $38,000. Finally, Global Assets Advisory LLC acquired a new position in Circle Internet Group during the first quarter valued at approximately $43,000.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the company. Weiss Ratings downgraded Circle Internet Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, October 8th. Seaport Research Partners set a $100.00 price objective on Circle Internet Group in a report on Monday, August 17th. Canaccord Genuity Group cut their target price on Circle Internet Group from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Compass Point set a $62.00 target price on Circle Internet Group in a research report on Wednesday, July 15th. Finally, Zacks Research raised Circle Internet Group from a “hold” rating to a “strong-buy” rating in a report on Friday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $97.94.
Check Out Our Latest Stock Analysis on Circle Internet Group
More Circle Internet Group News
Here are the key news stories impacting Circle Internet Group this week:
- Positive Sentiment: Rising USDC adoption and payment activity, along with an anticipated revenue contribution from ARC, are potential growth drivers heading into the quarterly results. Circle heads into Q3 earnings with ARC revenue boost and USDC headache
- Neutral Sentiment: The CFO, CAO and another insider reported small stock sales under pre-arranged Rule 10b5-1 plans to cover tax withholding on vested equity awards. Each retained a substantial holding, making the transactions less indicative of a change in confidence. CFO Form 4 filing
- Negative Sentiment: Analysts expect lower reserve yields and higher expenses to pressure profitability, despite growth in USDC and payments—an important risk for the upcoming earnings report. Circle Internet Gears Up to Report Q3 Earnings: What’s in Store?
- Negative Sentiment: A separate article raises whether CRCL’s valuation is high relative to its earnings, adding to concerns if results or forward guidance disappoint. Is Circle Internet Group (CRCL) Too Expensive for Its Earnings?
About Circle Internet Group
Circle Internet Group, Inc is a global financial technology company focused on digital currencies and blockchain-based payments. The company is best known for issuing USD Coin (USDC), a dollar-backed stablecoin designed to maintain a value of one U.S. dollar and support digital transactions, payments, trading and other financial applications. Circle also issues EURC, a euro-backed stablecoin.
Circle provides infrastructure and services for businesses, financial institutions and developers through products such as Circle Mint, which supports the creation, redemption and transfer of its stablecoins, as well as APIs and developer tools for integrating digital-asset payments and blockchain functionality.
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