Circle Internet Group (NYSE:CRCL) CFO Sells $635,700.00 in Stock

Circle Internet Group, Inc. (NYSE:CRCL) CFO Jeremy Fox-Geen sold 8,476 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $75.00, for a total transaction of $635,700.00. Following the completion of the transaction, the chief financial officer directly owned 323,837 shares in the company, valued at $24,287,775. This trade represents a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jeremy Fox-Geen also recently made the following trade(s):

• On Friday, June 5th, Jeremy Fox-Geen sold 8,120 shares of Circle Internet Group stock. The stock was sold at an average price of $88.00, for a total transaction of $714,560.00.

Circle Internet Group Price Performance

CRCL opened at $71.79 on Monday. Circle Internet Group, Inc. has a fifty-two week low of $49.90 and a fifty-two week high of $159.47. The firm has a market capitalization of $18.23 billion, a PE ratio of 49.17 and a beta of 0.22. The company’s 50-day moving average is $69.34 and its 200 day moving average is $86.03.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.08). The business had revenue of $701.32 million during the quarter. Circle Internet Group had a net margin of 15.53% and a return on equity of 13.58%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($4.48) earnings per share. As a group, analysts expect that Circle Internet Group, Inc. will post 1.04 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on CRCL. The Goldman Sachs Group set a $71.00 price target on Circle Internet Group in a report on Thursday, August 6th. Needham & Company LLC reduced their target price on shares of Circle Internet Group from $150.00 to $127.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Wall Street Zen downgraded shares of Circle Internet Group from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Compass Point set a $62.00 price target on shares of Circle Internet Group in a report on Wednesday, July 15th. Finally, Robert W. Baird reduced their price objective on shares of Circle Internet Group from $138.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $97.12.

Institutional Investors Weigh In On Circle Internet Group

A number of hedge funds have recently made changes to their positions in the business. General Catalyst Group Management LLC purchased a new stake in Circle Internet Group during the second quarter worth about $3,647,694,000. IDG Accel China Capital II Associates L.P. purchased a new position in Circle Internet Group in the fourth quarter valued at about $554,792,000. Accel XI Associates L.L.C. purchased a new position in Circle Internet Group in the fourth quarter valued at about $513,844,000. Southpoint Capital Advisors LP increased its stake in shares of Circle Internet Group by 175.0% during the 1st quarter. Southpoint Capital Advisors LP now owns 3,300,000 shares of the company’s stock worth $314,853,000 after purchasing an additional 2,100,000 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Circle Internet Group in the 4th quarter worth approximately $163,948,000.

About Circle Internet Group

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.