Circle Internet Group (NYSE:CRCL) CAO Tamara Schulz Sells 1,194 Shares of Company Stock

Circle Internet Group, Inc. (NYSE:CRCL) CAO Tamara Schulz sold 1,194 shares of the stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $85.78, for a total value of $102,421.32. Following the completion of the transaction, the chief accounting officer owned 94,248 shares of the company’s stock, valued at $8,084,593.44. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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.

Circle Internet Group Stock Performance

CRCL traded up $2.22 during trading on Monday, reaching $83.47. The company had a trading volume of 9,456,727 shares, compared to its average volume of 14,767,264. The firm’s 50-day simple moving average is $82.24 and its 200 day simple moving average is $88.71. The company has a market cap of $21.19 billion, a price-to-earnings ratio of 57.17 and a beta of 0.73. Circle Internet Group, Inc. has a 12-month low of $49.90 and a 12-month high of $159.47.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.08). Circle Internet Group had a net margin of 15.53% and a return on equity of 13.58%. The firm had revenue of $701.32 million for the quarter. During the same period in the previous year, the company earned ($4.48) earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts expect that Circle Internet Group, Inc. will post 1.08 EPS for the current year.

Institutional Investors Weigh In On Circle Internet Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRCL. Allworth Financial LP boosted its stake in shares of Circle Internet Group by 9.1% during the 2nd quarter. Allworth Financial LP now owns 1,267 shares of the company’s stock valued at $79,000 after buying an additional 106 shares during the period. GAMMA Investing LLC increased its stake in shares of Circle Internet Group by 28.6% in the second quarter. GAMMA Investing LLC now owns 715 shares of the company’s stock worth $45,000 after acquiring an additional 159 shares during the last quarter. Raiffeisen Bank International AG raised its holdings in shares of Circle Internet Group by 0.7% during the second quarter. Raiffeisen Bank International AG now owns 30,200 shares of the company’s stock worth $1,891,000 after acquiring an additional 200 shares in the last quarter. Harbour Investments Inc. boosted its position in Circle Internet Group by 170.0% during the fourth quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock valued at $30,000 after purchasing an additional 238 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in Circle Internet Group by 32.2% during the second quarter. Parkside Financial Bank & Trust now owns 981 shares of the company’s stock valued at $61,000 after purchasing an additional 239 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wall Street Zen raised shares of Circle Internet Group from a “strong sell” rating to a “sell” rating in a research note on Saturday. William Blair reaffirmed an “outperform” rating on shares of Circle Internet Group in a research report on Wednesday, August 5th. Seaport Research Partners set a $100.00 price target on Circle Internet Group in a report on Monday, August 17th. Sanford C. Bernstein reissued an “outperform” rating and set a $140.00 price target on shares of Circle Internet Group in a research report on Wednesday, July 29th. Finally, Wolfe Research increased their price objective on Circle Internet Group from $50.00 to $65.00 and gave the stock an “underperform” rating in a research note on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $97.82.

Circle Internet Group Company Profile

Circle Internet Group, Inc is a global financial technology company that develops infrastructure for digital currencies and blockchain-based payments. Its primary product is USD Coin (USDC), a dollar-denominated stablecoin designed to maintain a stable value and support digital transactions, payments and transfers across blockchain networks. Circle also issues EURC, a euro-denominated stablecoin.

The company provides institutional and developer-focused services through Circle Mint, which enables eligible businesses to create, redeem and manage USDC and access related payment and treasury tools.