Circle Internet Group, Inc. (NYSE:CRCL – Get Free Report) CEO Jeremy Allaire sold 56,205 shares of the business’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $68.48, for a total transaction of $3,848,918.40. Following the sale, the chief executive officer directly owned 221,355 shares of the company’s stock, valued at $15,158,390.40. This represents a 20.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Jeremy Allaire also recently made the following trade(s):
- On Thursday, November 5th, Jeremy Allaire sold 3,032 shares of Circle Internet Group stock. The stock was sold at an average price of $68.48, for a total value of $207,631.36.
- On Monday, October 5th, Jeremy Allaire sold 6,064 shares of Circle Internet Group stock. The shares were sold at an average price of $83.59, for a total transaction of $506,889.76.
- On Monday, October 5th, Jeremy Allaire sold 56,200 shares of Circle Internet Group stock. The shares were sold at an average price of $83.59, for a total transaction of $4,697,758.00.
- On Tuesday, September 8th, Jeremy Allaire sold 6,064 shares of Circle Internet Group stock. The stock was sold at an average price of $98.04, for a total value of $594,514.56.
- On Tuesday, September 8th, Jeremy Allaire sold 56,200 shares of Circle Internet Group stock. The stock was sold at an average price of $98.04, for a total value of $5,509,848.00.
Circle Internet Group Stock Performance
Shares of CRCL stock traded down $0.26 on Monday, hitting $67.62. The stock had a trading volume of 7,120,972 shares, compared to its average volume of 14,238,079. The stock’s 50 day moving average is $85.45 and its 200-day moving average is $85.64. The firm has a market capitalization of $17.17 billion, a price-to-earnings ratio of 40.74 and a beta of 0.84. Circle Internet Group, Inc. has a 52-week low of $49.90 and a 52-week high of $140.00.
Circle Internet Group (NYSE:CRCL – Get Free Report) last announced its earnings results on Wednesday, November 4th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.42. Circle Internet Group had a return on equity of 13.10% and a net margin of 15.27%. The business had revenue of $864.89 million for the quarter. During the same period in the previous year, the firm posted $0.64 earnings per share. The firm’s revenue was up 16.9% compared to the same quarter last year. Equities analysts expect that Circle Internet Group, Inc. will post 1.20 earnings per share for the current year.
Analyst Upgrades and Downgrades
CRCL has been the subject of a number of research reports. Wolfe Research lifted their price objective on shares of Circle Internet Group from $50.00 to $65.00 and gave the stock an “underperform” rating in a report on Tuesday, August 25th. Zacks Research upgraded Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 16th. Seaport Research Partners set a $100.00 price objective on shares of Circle Internet Group in a research note on Monday, August 17th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $140.00 price target on shares of Circle Internet Group in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. cut their price objective on Circle Internet Group from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $94.88.
Check Out Our Latest Report on CRCL
Hedge Funds Weigh In On Circle Internet Group
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Circle Internet Group by 24.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,970,939 shares of the company’s stock worth $326,292,000 after buying an additional 785,213 shares during the last quarter. Southpoint Capital Advisors LP raised its stake in Circle Internet Group by 175.0% during the 1st quarter. Southpoint Capital Advisors LP now owns 3,300,000 shares of the company’s stock valued at $314,853,000 after purchasing an additional 2,100,000 shares during the last quarter. Amova Asset Management Americas Inc. lifted its stake in shares of Circle Internet Group by 13.4% in the first quarter. Amova Asset Management Americas Inc. now owns 2,914,947 shares of the company’s stock valued at $278,173,000 after buying an additional 344,539 shares during the period. SBI Holdings USA Inc. acquired a new stake in shares of Circle Internet Group during the 2nd quarter worth approximately $101,084,820. Finally, Accel XI Associates L.L.C. acquired a new stake in Circle Internet Group during the second quarter worth $56,999,563.
Circle Internet Group Company Profile
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.
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