Circle Internet Group (NYSE:CRCL) Insider Hossein Razzaghi Sells 1,831 Shares of Stock

Circle Internet Group, Inc. (NYSE:CRCL) insider Hossein Razzaghi sold 1,831 shares of the company’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $64.40, for a total value of $117,916.40. Following the completion of the sale, the insider directly owned 662,856 shares in the company, valued at approximately $42,687,926.40. The trade was a 0.28% decrease in their ownership of the stock. The sale was disclosed in a document filed 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. 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 Wednesday, June 10th, Hossein Razzaghi sold 34,623 shares of Circle Internet Group stock. The shares were sold at an average price of $78.85, for a total value of $2,730,023.55.

Circle Internet Group Stock Up 4.2%

Shares of CRCL stock traded up $2.61 during mid-day trading on Thursday, reaching $64.56. 17,677,699 shares of the company’s stock traded hands, compared to its average volume of 15,297,530. The company’s 50-day moving average price is $96.14 and its 200-day moving average price is $89.36. The company has a market cap of $16.05 billion and a P/E ratio of -20.17. Circle Internet Group, Inc. has a 12 month low of $49.90 and a 12 month high of $262.97.

Circle Internet Group (NYSE:CRCL) last issued its quarterly 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 business 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%.Circle Internet Group’s revenue for the quarter was up 20.0% compared to the same quarter last year. Equities analysts predict that Circle Internet Group, Inc. will post 1.02 earnings per share for the current year.

Hedge Funds Weigh In On Circle Internet Group

A number of hedge funds have recently added to or reduced their stakes in CRCL. General Catalyst Group Management LLC bought a new position in Circle Internet Group in the 2nd quarter valued at approximately $3,647,694,000. Marshall Wace LLP raised its stake in shares of Circle Internet Group by 23.8% in the fourth quarter. Marshall Wace LLP now owns 9,978,729 shares of the company’s stock worth $791,313,000 after purchasing an additional 1,919,205 shares during the last quarter. IDG Accel China Capital II Associates L.P. purchased a new position in shares of Circle Internet Group in the fourth quarter worth $554,792,000. Accel XI Associates L.L.C. bought a new position in shares of Circle Internet Group during the fourth quarter valued at $513,844,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Circle Internet Group by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 5,653,110 shares of the company’s stock valued at $448,292,000 after purchasing an additional 74,414 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CRCL shares. Robert W. Baird boosted their price target on Circle Internet Group from $110.00 to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 17th. The Goldman Sachs Group reduced their price objective on Circle Internet Group from $111.00 to $96.00 and set a “neutral” rating for the company in a research report on Thursday. KeyCorp assumed coverage on Circle Internet Group in a research note on Tuesday, May 26th. They set a “sector weight” rating for the company. Needham & Company LLC boosted their target price on Circle Internet Group from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Compass Point raised Circle Internet Group from a “sell” rating to a “neutral” rating and cut their target price for the stock from $97.00 to $55.00 in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $117.38.

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.