Circle Internet Group (NYSE:CRCL) Insider Sells $2,730,023.55 in Stock

Circle Internet Group, Inc. (NYSE:CRCL) insider Hossein Razzaghi sold 34,623 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $78.85, for a total value of $2,730,023.55. Following the completion of the transaction, the insider directly owned 666,404 shares in the company, valued at $52,545,955.40. The trade was a 4.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Circle Internet Group Stock Performance

Shares of NYSE:CRCL opened at $77.85 on Monday. The stock has a market capitalization of $19.35 billion and a price-to-earnings ratio of -24.33. The stock’s 50-day simple moving average is $101.91 and its two-hundred day simple moving average is $89.97. Circle Internet Group, Inc. has a 52-week low of $49.90 and a 52-week high of $298.99.

Circle Internet Group (NYSE:CRCL) last announced its earnings results on Monday, May 11th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.06). The firm had revenue of $694.13 million during the quarter. Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.The business’s revenue was up 20.0% compared to the same quarter last year. As a group, equities analysts forecast that Circle Internet Group, Inc. will post 1.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CRCL. Wells Fargo & Company raised their target price on Circle Internet Group from $111.00 to $142.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Compass Point reissued a “sell” rating and issued a $77.00 target price (down from $79.00) on shares of Circle Internet Group in a research report on Thursday, April 9th. Zacks Research raised Circle Internet Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 17th. Freedom Capital raised Circle Internet Group to a “hold” rating in a report on Tuesday, April 21st. Finally, KeyCorp started coverage on Circle Internet Group in a report on Tuesday, May 26th. They set a “sector weight” rating for the company. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Circle Internet Group presently has a consensus rating of “Hold” and a consensus price target of $134.18.

Institutional Trading of Circle Internet Group

Hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC bought a new stake in Circle Internet Group during the second quarter valued at about $27,000. Larson Financial Group LLC grew its holdings in Circle Internet Group by 3,800.0% during the third quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after purchasing an additional 190 shares during the period. Montag A & Associates Inc. bought a new stake in Circle Internet Group during the third quarter valued at about $33,000. National Bank of Canada FI bought a new stake in Circle Internet Group during the third quarter valued at about $37,000. Finally, Pin Oak Investment Advisors Inc. bought a new position in shares of Circle Internet Group in the third quarter worth about $39,000.

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.