Circle Internet Group (NYSE:CRCL) CEO Sells $3,774,392.00 in Stock

Circle Internet Group, Inc. (NYSE:CRCL) CEO Jeremy Allaire sold 56,200 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $67.16, for a total transaction of $3,774,392.00. Following the sale, the chief executive officer owned 454,379 shares of the company’s stock, valued at $30,516,093.64. This trade represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, July 6th, Jeremy Allaire sold 3,032 shares of Circle Internet Group stock. The stock was sold at an average price of $67.16, for a total value of $203,629.12.
• On Friday, June 5th, Jeremy Allaire sold 56,200 shares of Circle Internet Group stock. The shares were sold at an average price of $82.93, for a total value of $4,660,666.00.
• On Friday, June 5th, Jeremy Allaire sold 3,032 shares of Circle Internet Group stock. The stock was sold at an average price of $82.93, for a total value of $251,443.76.

Circle Internet Group Stock Down 1.5%

Shares of CRCL stock traded down $0.97 during trading hours on Wednesday, reaching $64.18. 8,458,015 shares of the company’s stock were exchanged, compared to its average volume of 15,173,798. Circle Internet Group, Inc. has a fifty-two week low of $49.90 and a fifty-two week high of $262.97. The stock has a market capitalization of $15.95 billion and a P/E ratio of -20.06. The business has a fifty day moving average price of $93.40 and a 200-day moving average price of $88.96.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.06). Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.The company had revenue of $694.13 million during the quarter. The business’s quarterly revenue was up 20.0% on a year-over-year basis. As a group, research analysts expect that Circle Internet Group, Inc. will post 1.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CRCL has been the topic of several research reports. Mizuho dropped their price objective on shares of Circle Internet Group from $135.00 to $85.00 and set a “neutral” rating on the stock in a report on Friday, June 5th. Compass Point raised Circle Internet Group from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $97.00 to $55.00 in a research report on Tuesday, June 30th. Zacks Research raised Circle Internet Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. Clear Str raised Circle Internet Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 16th. Finally, Morgan Stanley upped their target price on Circle Internet Group from $80.00 to $106.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $117.38.

Institutional Investors Weigh In On Circle Internet Group

Several large investors have recently modified their holdings of the stock. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Circle Internet Group in the 4th quarter worth approximately $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 valued at $26,000 after buying an additional 190 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in Circle Internet Group in the second quarter valued at $27,000. Bellevue Asset Management LLC bought a new stake in Circle Internet Group in the fourth quarter valued at $29,000. Finally, Harbour Investments Inc. raised its stake in Circle Internet Group by 170.0% during the fourth quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock worth $30,000 after acquiring an additional 238 shares in the last quarter.

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 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.