Shares of Circle Internet Group, Inc. (NYSE:CRCL – Get Free Report) gapped down prior to trading on Tuesday following insider selling activity. The stock had previously closed at $87.72, but opened at $84.73. Circle Internet Group shares last traded at $87.7290, with a volume of 4,824,143 shares.
Specifically, CFO Jeremy Fox-Geen sold 45,000 shares of Circle Internet Group stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $90.00, for a total value of $4,050,000.00. Following the sale, the chief financial officer directly owned 323,837 shares of the company’s stock, valued at $29,145,330. The trade was a 12.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director M Michele Burns sold 3,332 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $85.13, for a total value of $283,653.16. Following the sale, the director owned 327,226 shares of the company’s stock, valued at $27,856,749.38. The trade was a 1.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Wall Street Analyst Weigh In
CRCL has been the topic of a number of research reports. The Goldman Sachs Group restated a “neutral” rating and issued a $81.00 price objective on shares of Circle Internet Group in a report on Tuesday. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $140.00 target price on shares of Circle Internet Group in a report on Wednesday, July 29th. Seaport Research Partners set a $100.00 target price on shares of Circle Internet Group in a research report on Monday, August 17th. KeyCorp initiated coverage on shares of Circle Internet Group in a research note on Tuesday, May 26th. They issued a “sector weight” rating on the stock. Finally, Wolfe Research restated an “underperform” rating and set a $65.00 price target on shares of Circle Internet Group in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Circle Internet Group presently has a consensus rating of “Hold” and a consensus target price of $99.35.
Circle Internet Group Trading Up 0.1%
The company has a fifty day simple moving average of $69.30 and a 200-day simple moving average of $86.70. The company has a market capitalization of $22.30 billion, a PE ratio of 60.16 and a beta of 0.23.
Circle Internet Group (NYSE:CRCL – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $701.32 million during the quarter. During the same period in the previous year, the business earned ($4.48) earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. On average, equities analysts predict that Circle Internet Group, Inc. will post 1.04 EPS for the current fiscal year.
Institutional Investors Weigh In On Circle Internet Group
Several hedge funds and other institutional investors have recently bought and sold shares of the company. General Catalyst Group Management LLC purchased a new stake in Circle Internet Group in the second quarter valued at $3,647,694,000. California State Teachers Retirement System increased its stake in Circle Internet Group by 222,662.5% during the second quarter. California State Teachers Retirement System now owns 13,871,418 shares of the company’s stock worth $868,767,000 after purchasing an additional 13,865,191 shares during the period. IDG Accel China Capital II Associates L.P. acquired a new stake in shares of Circle Internet Group during the fourth quarter worth about $554,792,000. Accel XI Associates L.L.C. acquired a new stake in Circle Internet Group during the 4th quarter worth approximately $513,844,000. Finally, Southpoint Capital Advisors LP boosted its holdings in Circle Internet Group by 175.0% in the first 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 period.
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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