Circle Internet Group (NYSE:CRCL) CEO Jeremy Allaire Sells 7,055 Shares of Stock

Circle Internet Group, Inc. (NYSE:CRCL) CEO Jeremy Allaire sold 7,055 shares of Circle Internet Group stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $90.07, for a total transaction of $635,443.85. Following the transaction, the chief executive officer directly owned 70,517 shares of the company’s stock, valued at $6,351,466.19. This represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Jeremy Allaire also recently made the following trade(s):

• On Monday, December 22nd, Jeremy Allaire sold 758 shares of Circle Internet Group stock. The shares were sold at an average price of $90.07, for a total value of $68,273.06.
• On Friday, December 12th, Jeremy Allaire sold 758 shares of Circle Internet Group stock. The stock was sold at an average price of $90.05, for a total transaction of $68,257.90.
• On Friday, December 12th, Jeremy Allaire sold 7,055 shares of Circle Internet Group stock. The stock was sold at an average price of $90.05, for a total transaction of $635,302.75.

Circle Internet Group Trading Down 5.1%

Shares of CRCL stock traded down $4.41 during trading hours on Tuesday, reaching $82.60. 9,334,052 shares of the company were exchanged, compared to its average volume of 18,173,600. Circle Internet Group, Inc. has a fifty-two week low of $64.00 and a fifty-two week high of $298.99. The business has a fifty day moving average price of $98.14.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.44. The company had revenue of $739.76 million during the quarter. Circle Internet Group’s revenue was up 65.9% on a year-over-year basis.

Institutional Trading of Circle Internet Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Brand Asset Management Group Inc. acquired a new position in Circle Internet Group during the second quarter worth $272,000. Westbourne Investments Inc. bought a new stake in Circle Internet Group during the 2nd quarter worth about $204,000. Baader Bank Aktiengesellschaft acquired a new position in shares of Circle Internet Group during the 2nd quarter worth about $1,083,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Circle Internet Group in the 2nd quarter valued at about $673,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Circle Internet Group in the second quarter valued at about $18,397,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Needham & Company LLC reduced their target price on Circle Internet Group from $250.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Monness Crespi & Hardt assumed coverage on shares of Circle Internet Group in a report on Monday, November 10th. They set a “buy” rating and a $150.00 price objective for the company. Wolfe Research initiated coverage on shares of Circle Internet Group in a report on Tuesday, December 2nd. They issued an “underperform” rating and a $60.00 target price on the stock. HC Wainwright assumed coverage on shares of Circle Internet Group in a research report on Friday. They set a “neutral” rating and a $85.00 price target on the stock. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $247.00 price objective on shares of Circle Internet Group in a research report on Thursday, September 11th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $141.18.

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 USD Coin (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.