Insider Selling: Circle Internet Group (NYSE:CRCL) CFO Sells $667,008.00 in Stock

Circle Internet Group, Inc. (NYSE:CRCL) CFO Jeremy Fox-Geen sold 7,200 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $92.64, for a total value of $667,008.00. Following the sale, the chief financial officer directly owned 363,726 shares in the company, valued at approximately $33,695,576.64. The trade was a 1.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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.

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

• On Monday, May 4th, Jeremy Fox-Geen sold 4,238 shares of Circle Internet Group stock. The shares were sold at an average price of $107.10, for a total value of $453,889.80.
• On Thursday, April 2nd, Jeremy Fox-Geen sold 4,238 shares of Circle Internet Group stock. The shares were sold at an average price of $90.00, for a total value of $381,420.00.
• On Wednesday, April 1st, Jeremy Fox-Geen sold 7,200 shares of Circle Internet Group stock. The shares were sold at an average price of $98.04, for a total value of $705,888.00.
• On Thursday, February 26th, Jeremy Fox-Geen sold 47,908 shares of Circle Internet Group stock. The shares were sold at an average price of $90.00, for a total value of $4,311,720.00.

Circle Internet Group Stock Down 6.9%

CRCL opened at $113.45 on Friday. The firm has a market cap of $28.00 billion and a P/E ratio of -61.00. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $298.99. The business’s fifty day simple moving average is $103.32 and its 200 day simple moving average is $90.26.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.18. The company had revenue of $770.23 million for the quarter. The company’s revenue for the quarter was up 76.9% on a year-over-year basis. As a group, equities analysts expect that Circle Internet Group, Inc. will post 0.84 EPS for the current fiscal year.

Institutional Trading of Circle Internet Group

Hedge funds have recently added to or reduced their stakes in the business. Bartlett & CO. Wealth Management LLC acquired a new stake in Circle Internet Group in the 4th quarter worth about $25,000. Larson Financial Group LLC boosted its stake in Circle Internet Group by 3,800.0% in the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock worth $26,000 after buying an additional 190 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in Circle Internet Group in the 3rd quarter worth about $27,000. EverSource Wealth Advisors LLC acquired a new stake in Circle Internet Group in the 2nd quarter worth about $27,000. Finally, Bellevue Asset Management LLC acquired a new stake in Circle Internet Group in the 4th quarter worth about $29,000.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $160.00 price objective on shares of Circle Internet Group in a research note on Wednesday, March 25th. Needham & Company LLC decreased their price objective on Circle Internet Group from $190.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Wall Street Zen lowered Circle Internet Group from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Mizuho raised their price target on Circle Internet Group from $100.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, March 13th. Finally, Zacks Research raised Circle Internet Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $129.06.

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.