Circle Internet Group, Inc. (NYSE:CRCL – Get Free Report) insider Hossein Razzaghi sold 1,829 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $60.08, for a total transaction of $109,886.32. Following the sale, the insider directly owned 659,310 shares of the company’s stock, valued at approximately $39,611,344.80. This represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 Thursday, July 2nd, Hossein Razzaghi sold 1,831 shares of Circle Internet Group stock. The stock was sold at an average price of $64.40, for a total transaction of $117,916.40.
- On Wednesday, June 10th, Hossein Razzaghi sold 34,623 shares of Circle Internet Group stock. The stock was sold at an average price of $78.85, for a total transaction of $2,730,023.55.
Circle Internet Group Stock Performance
Shares of NYSE CRCL traded up $3.16 during trading on Tuesday, hitting $63.51. The company had a trading volume of 12,616,656 shares, compared to its average volume of 14,865,669. The company has a market cap of $15.79 billion, a P/E ratio of -19.85 and a beta of 0.22. The business’s 50-day moving average is $74.97 and its 200 day moving average is $86.47. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $189.92.
Wall Street Analysts Forecast Growth
A number of research firms have commented on CRCL. Freedom Capital raised shares of Circle Internet Group to a “hold” rating in a research note on Tuesday, April 21st. Wells Fargo & Company boosted their price target on shares of Circle Internet Group from $111.00 to $142.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. The Goldman Sachs Group decreased their price objective on shares of Circle Internet Group from $111.00 to $96.00 and set a “neutral” rating for the company in a research note on Thursday, July 2nd. Morgan Stanley cut shares of Circle Internet Group from an “overweight” rating to an “equal weight” rating and set a $38.00 price objective on the stock. in a research report on Monday. Finally, Raymond James Financial initiated coverage on Circle Internet Group in a report on Tuesday, July 21st. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $104.18.
Check Out Our Latest Report on CRCL
Key Circle Internet Group News
Here are the key news stories impacting Circle Internet Group this week:
- Positive Sentiment: TD Cowen initiated coverage with a Buy rating and an $82 price target, implying roughly 29% upside from the referenced share price. The call adds a bullish view as Circle pursues long-term stablecoin growth. TD Cowen coverage reference
- Positive Sentiment: Circle secured a New York trust charter, a development that could strengthen its regulatory standing and support broader USDC adoption, institutional relationships and payments expansion. Circle secures New York trust charter
- Positive Sentiment: JPMorgan continues to see substantial long-term upside, reportedly maintaining a view that the stock could potentially double despite reducing earnings estimates. The bank believes investors may be underestimating Circle’s growth opportunity. JPMorgan Circle outlook
- Positive Sentiment: Mizuho upgraded Circle, providing another supportive analyst signal amid the broader debate over the company’s valuation and earnings outlook. Mizuho upgrade
- Neutral Sentiment: Analyst sentiment remains mixed, with Circle carrying an average Hold rating. This suggests bullish forecasts are being offset by concerns about valuation, margins and execution. Analyst average Hold rating
- Negative Sentiment: Second-quarter earnings are the immediate catalyst. Rapid USDC adoption must offset weaker reserve yields, higher costs and pressure on reported profit. JPMorgan also expects shrinking margins, increasing the risk of a disappointing earnings reaction. Circle second-quarter earnings preview
- Negative Sentiment: Morgan Stanley downgraded the stock, highlighting near-term valuation or profitability risks and contributing to recent volatility. Morgan Stanley downgrade
Hedge Funds Weigh In On Circle Internet Group
A number of hedge funds have recently modified their holdings of CRCL. Farther Finance Advisors LLC increased its position in Circle Internet Group by 12.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,221 shares of the company’s stock worth $140,000 after purchasing an additional 251 shares during the last quarter. Ballentine Partners LLC increased its holdings in Circle Internet Group by 60.2% in the second quarter. Ballentine Partners LLC now owns 100,905 shares of the company’s stock worth $6,320,000 after buying an additional 37,912 shares during the last quarter. Prospera Financial Services Inc lifted its stake in Circle Internet Group by 9.3% in the second quarter. Prospera Financial Services Inc now owns 8,589 shares of the company’s stock valued at $538,000 after acquiring an additional 730 shares during the last quarter. Independent Financial Group LLC bought a new stake in Circle Internet Group in the second quarter worth approximately $215,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Circle Internet Group by 5.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 46,436 shares of the company’s stock worth $3,071,000 after purchasing an additional 2,273 shares during the last quarter.
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.
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