Circle Internet Group (NYSE:CRCL) CAO Tamara Schulz Sells 1,194 Shares of Company Stock

Circle Internet Group, Inc. (NYSE:CRCL) CAO Tamara Schulz sold 1,194 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $73.06, for a total value of $87,233.64. Following the completion of the transaction, the chief accounting officer directly owned 92,024 shares of the company’s stock, valued at approximately $6,723,273.44. This trade represents a 1.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.

Circle Internet Group Stock Up 4.5%

CRCL traded up $3.25 during midday trading on Tuesday, hitting $75.33. 8,591,297 shares of the company traded hands, compared to its average volume of 14,278,316. The firm has a market capitalization of $19.13 billion, a PE ratio of 51.60 and a beta of 0.73. The company’s 50-day moving average is $86.96 and its 200 day moving average is $85.76. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $140.00.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.08). Circle Internet Group had a return on equity of 13.58% and a net margin of 15.53%. The company had revenue of $701.32 million during the quarter. During the same period in the previous year, the company earned ($4.48) EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, sell-side analysts predict that Circle Internet Group, Inc. will post 1.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Circle Internet Group

Institutional investors and hedge funds have recently made changes to their positions in the business. WPG Advisers LLC bought a new stake in Circle Internet Group during the first quarter valued at approximately $31,000. Pinnacle Wealth Planning Services Inc. raised its position in Circle Internet Group by 952.8% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 379 shares of the company’s stock worth $31,000 after acquiring an additional 343 shares during the period. First Horizon Corp bought a new position in Circle Internet Group in the first quarter worth approximately $35,000. Abound Financial LLC purchased a new position in shares of Circle Internet Group during the 1st quarter worth $38,000. Finally, Global Assets Advisory LLC purchased a new position in shares of Circle Internet Group during the 1st quarter worth $43,000.

Analysts Set New Price Targets

CRCL has been the topic of several research reports. Seaport Research Partners set a $100.00 target price on shares of Circle Internet Group in a report on Monday, August 17th. Raymond James Financial assumed coverage on shares of Circle Internet Group in a research note on Tuesday, July 21st. They set a “market perform” rating for the company. Robert W. Baird lowered their price target 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. Wolfe Research raised their price target on Circle Internet Group from $50.00 to $65.00 and gave the stock an “underperform” rating in a research note on Tuesday, August 25th. Finally, Zacks Research raised Circle Internet Group from a “hold” rating to a “strong-buy” rating in a report on Friday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $97.94.

About Circle Internet Group

Circle Internet Group, Inc is a global financial technology company focused on digital currencies and blockchain-based payments. The company is best known for issuing USD Coin (USDC), a dollar-backed stablecoin designed to maintain a value of one U.S. dollar and support digital transactions, payments, trading and other financial applications. Circle also issues EURC, a euro-backed stablecoin.

Circle provides infrastructure and services for businesses, financial institutions and developers through products such as Circle Mint, which supports the creation, redemption and transfer of its stablecoins, as well as APIs and developer tools for integrating digital-asset payments and blockchain functionality.