Circle Internet Group (NYSE:CRCL) Insider Sells $156,977.40 in Stock

Circle Internet Group, Inc. (NYSE:CRCL) insider Hossein Razzaghi sold 1,830 shares of Circle Internet Group stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $85.78, for a total value of $156,977.40. Following the completion of the sale, the insider owned 641,318 shares of the company’s stock, valued at approximately $55,012,258.04. The trade was a 0.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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.

Hossein Razzaghi also recently made the following trade(s):

• On Wednesday, September 2nd, Hossein Razzaghi sold 7,458 shares of Circle Internet Group stock. The stock was sold at an average price of $87.87, for a total value of $655,334.46.
• On Tuesday, August 4th, Hossein Razzaghi sold 1,829 shares of Circle Internet Group stock. The stock was sold at an average price of $60.08, for a total transaction of $109,886.32.

Circle Internet Group Stock Performance

Shares of CRCL stock traded up $2.22 during trading hours on Monday, hitting $83.47. 9,456,727 shares of the company were exchanged, compared to its average volume of 14,767,264. The company has a 50 day simple moving average of $82.24 and a two-hundred day simple moving average of $88.71. The firm has a market cap of $21.19 billion, a P/E ratio of 57.17 and a beta of 0.73. Circle Internet Group, Inc. has a fifty-two week low of $49.90 and a fifty-two week high of $159.47.

Circle Internet Group (NYSE:CRCL) last released its earnings results on Wednesday, August 5th. The company reported $0.18 earnings per share (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 company had revenue of $701.32 million for the quarter. During the same quarter in the previous year, the firm earned ($4.48) EPS. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, sell-side analysts expect that Circle Internet Group, Inc. will post 1.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Circle Internet Group

Several large investors have recently added to or reduced their stakes in CRCL. Versant Capital Management Inc boosted its stake in Circle Internet Group by 170.0% during the 3rd quarter. Versant Capital Management Inc now owns 656 shares of the company’s stock valued at $54,000 after purchasing an additional 413 shares during the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Circle Internet Group by 15.2% in the second quarter. Integrated Wealth Concepts LLC now owns 4,067 shares of the company’s stock valued at $255,000 after purchasing an additional 538 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Circle Internet Group by 229.0% in the second quarter. IFP Advisors Inc now owns 3,204 shares of the company’s stock valued at $201,000 after purchasing an additional 2,230 shares in the last quarter. Allworth Financial LP boosted its position in shares of Circle Internet Group by 9.1% during the second 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 last quarter. Finally, Arizona State Retirement System purchased a new position in shares of Circle Internet Group during the second quarter valued at approximately $2,667,000.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Raymond James Financial assumed coverage on Circle Internet Group in a research note on Tuesday, July 21st. They set a “market perform” rating on the stock. Seaport Research Partners set a $100.00 price objective on Circle Internet Group in a research note on Monday, August 17th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $140.00 target price on shares of Circle Internet Group in a research report on Wednesday, July 29th. Susquehanna reiterated a “neutral” rating on shares of Circle Internet Group in a report on Tuesday, September 29th. Finally, Robert W. Baird cut their target price on Circle Internet Group from $138.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Circle Internet Group presently has an average rating of “Hold” and a consensus price target 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.