Circle Internet Group (NYSE:CRCL) Director Sells 30,000 Shares

Circle Internet Group, Inc. (NYSE:CRCL) Director Patrick Sean Neville sold 30,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $98.04, for a total value of $2,941,200.00. Following the sale, the director owned 30,000 shares in the company, valued at $2,941,200. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Patrick Sean Neville also recently made the following trade(s):

• On Wednesday, April 1st, Patrick Sean Neville sold 5,000 shares of Circle Internet Group stock. The shares were sold at an average price of $98.04, for a total value of $490,200.00.
• On Thursday, February 26th, Patrick Sean Neville sold 5,000 shares of Circle Internet Group stock. The stock was sold at an average price of $90.00, for a total value of $450,000.00.
• On Thursday, February 26th, Patrick Sean Neville sold 30,000 shares of Circle Internet Group stock. The shares were sold at an average price of $90.00, for a total value of $2,700,000.00.

Circle Internet Group Stock Performance

Shares of CRCL traded down $0.19 during midday trading on Friday, hitting $90.07. 12,626,518 shares of the stock traded hands, compared to its average volume of 19,827,344. The business’s 50 day moving average price is $85.77 and its two-hundred day moving average price is $96.81. The firm has a market capitalization of $22.23 billion and a PE ratio of -48.42. Circle Internet Group, Inc. has a 1-year low of $49.90 and a 1-year high of $298.99.

Circle Internet Group (NYSE:CRCL) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.18. The firm had revenue of $770.23 million during the quarter. The business’s revenue was up 76.9% on a year-over-year basis.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CRCL shares. Wells Fargo & Company dropped their price target on shares of Circle Internet Group from $128.00 to $111.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. Compass Point raised Circle Internet Group from a “sell” rating to a “neutral” rating and set a $75.00 price objective for the company in a report on Thursday, January 29th. Morgan Stanley initiated coverage on Circle Internet Group in a research report on Monday, February 2nd. They issued an “equal weight” rating and a $66.00 target price on the stock. Clear Str raised Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 16th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $126.29.

Institutional Investors Weigh In On Circle Internet Group

Several hedge funds have recently modified their holdings of the stock. General Catalyst Group Management LLC acquired a new position in shares of Circle Internet Group in the 2nd quarter valued at $3,647,694,000. Marshall Wace LLP acquired a new stake in Circle Internet Group during the 2nd quarter worth about $1,547,214,000. IDG Accel China Capital II Associates L.P. purchased a new stake in Circle Internet Group during the fourth quarter valued at about $554,792,000. Accel XI Associates L.L.C. acquired a new position in shares of Circle Internet Group in the fourth quarter worth about $513,844,000. Finally, Vanguard Group Inc. increased its position in shares of Circle Internet Group by 61.6% in the third quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock worth $739,624,000 after acquiring an additional 2,126,072 shares in the last quarter.

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.