Traders Purchase High Volume of Circle Internet Group Call Options (NYSE:CRCL)

Circle Internet Group, Inc. (NYSE:CRCL) saw some unusual options trading activity on Friday. Investors purchased 150,979 call options on the stock. This is an increase of 27% compared to the typical daily volume of 118,946 call options.

Insider Buying and Selling

In other Circle Internet Group news, CAO Tamara L. Schulz sold 1,194 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $87.58, for a total value of $104,570.52. Following the completion of the sale, the chief accounting officer owned 93,053 shares of the company’s stock, valued at approximately $8,149,581.74. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Heath Tarbert sold 15,000 shares of the firm’s stock in a transaction on Monday, April 13th. The shares were sold at an average price of $95.04, for a total value of $1,425,600.00. Following the completion of the transaction, the president owned 561,168 shares of the company’s stock, valued at approximately $53,333,406.72. This represents a 2.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 545,874 shares of company stock valued at $52,991,625 in the last quarter. Corporate insiders own 10.85% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC purchased a new stake in Circle Internet Group in the 2nd quarter worth about $27,000. PNC Financial Services Group Inc. lifted its stake in Circle Internet Group by 14.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,164 shares of the company’s stock worth $154,000 after acquiring an additional 151 shares in the last quarter. Larson Financial Group LLC lifted its stake in Circle Internet Group by 3,800.0% in the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock worth $26,000 after acquiring an additional 190 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in Circle Internet Group in the 3rd quarter worth about $27,000. Finally, Harbour Investments Inc. lifted its stake in Circle Internet Group by 170.0% in the 4th quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock worth $30,000 after acquiring an additional 238 shares in the last quarter.

Circle Internet Group Stock Down 1.8%

NYSE CRCL traded down $1.92 during trading hours on Friday, hitting $105.54. The company had a trading volume of 14,451,220 shares, compared to its average volume of 15,354,080. Circle Internet Group has a fifty-two week low of $49.90 and a fifty-two week high of $298.99. The business has a fifty day simple moving average of $92.24 and a 200-day simple moving average of $94.20. The firm has a market cap of $26.05 billion and a P/E ratio of -56.74.

Circle Internet Group (NYSE:CRCL) last issued its earnings results on Wednesday, February 25th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.18. The company had revenue of $770.23 million during the quarter. The company’s revenue for the quarter was up 76.9% compared to the same quarter last year.

Analysts Set New Price Targets

CRCL has been the topic of several recent research reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $160.00 target price on shares of Circle Internet Group in a research report on Wednesday, March 25th. Wall Street Zen lowered Circle Internet Group from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. Robert W. Baird upped their target price on Circle Internet Group from $110.00 to $138.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. Mizuho upped their target price on Circle Internet Group from $100.00 to $120.00 and gave the company a “neutral” rating in a research report on Friday, March 13th. Finally, Morgan Stanley assumed coverage on Circle Internet Group in a research report on Monday, February 2nd. They issued an “equal weight” rating and a $66.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $126.41.

Circle Internet Group Company Profile

Circle Internet Group (NYSE: CRCL) is a financial technology company that builds infrastructure to enable businesses and developers to use and move money on public blockchains. Co-founded by Jeremy Allaire and Sean Neville, the company is best known as a principal issuer and steward of USDC, a dollar-pegged stablecoin developed through the CENTRE Consortium, which Circle co-founded with Coinbase. Jeremy Allaire serves as CEO and has been a visible leader in the company’s strategy and public engagement around digital currency and payments innovation.

Circle’s core products and services center on digital currency issuance and programmable payments.