Circle Internet Group (NYSE:CRCL) Stock: Insider Jeremy Allaire Sells 56,205 Shares

Circle Internet Group, Inc. (NYSE:CRCL) CEO Jeremy Allaire sold 56,205 shares of the stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $68.48, for a total transaction of $3,848,918.40. Following the sale, the chief executive officer owned 221,355 shares of the company’s stock, valued at $15,158,390.40. This trade represents a 20.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, November 5th, Jeremy Allaire sold 3,032 shares of Circle Internet Group stock. The shares were sold at an average price of $68.48, for a total transaction of $207,631.36.
• On Monday, October 5th, Jeremy Allaire sold 6,064 shares of Circle Internet Group stock. The shares were sold at an average price of $83.59, for a total value of $506,889.76.
• On Monday, October 5th, Jeremy Allaire sold 56,200 shares of Circle Internet Group stock. The stock was sold at an average price of $83.59, for a total transaction of $4,697,758.00.
• On Tuesday, September 8th, Jeremy Allaire sold 6,064 shares of Circle Internet Group stock. The shares were sold at an average price of $98.04, for a total transaction of $594,514.56.
• On Tuesday, September 8th, Jeremy Allaire sold 56,200 shares of Circle Internet Group stock. The shares were sold at an average price of $98.04, for a total value of $5,509,848.00.

Circle Internet Group Stock Performance

NYSE:CRCL traded down $0.26 on Monday, hitting $67.62. 7,120,972 shares of the stock were exchanged, compared to its average volume of 14,238,079. The stock has a market capitalization of $17.17 billion, a price-to-earnings ratio of 40.74 and a beta of 0.84. The company’s 50-day moving average price is $85.45 and its 200 day moving average price is $85.64. 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 data on Wednesday, November 4th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.42. The business had revenue of $864.89 million for the quarter. Circle Internet Group had a net margin of 15.27% and a return on equity of 13.10%. The company’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share. As a group, equities research analysts predict that Circle Internet Group, Inc. will post 1.20 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CRCL shares. Wolfe Research lifted their price objective on Circle Internet Group from $50.00 to $65.00 and gave the company an “underperform” rating in a report on Tuesday, August 25th. Piper Sandler upgraded Circle Internet Group to a “neutral” rating in a report on Thursday. The Goldman Sachs Group restated an “underperform” rating on shares of Circle Internet Group in a report on Wednesday, September 9th. Citigroup assumed coverage on Circle Internet Group in a research note on Thursday. They issued a “buy” rating on the stock. Finally, Weiss Ratings cut shares of Circle Internet Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $94.88.

Hedge Funds Weigh In On Circle Internet Group

Several hedge funds have recently bought and sold shares of CRCL. Danske Bank A S grew its holdings in Circle Internet Group by 14.0% during the 3rd quarter. Danske Bank A S now owns 81,400 shares of the company’s stock worth $6,689,000 after acquiring an additional 10,000 shares during the last quarter. Moors & Cabot Inc. raised its stake in shares of Circle Internet Group by 6.6% during the third quarter. Moors & Cabot Inc. now owns 6,286 shares of the company’s stock valued at $517,000 after acquiring an additional 388 shares during the last quarter. Eurizon Capital SGR S.p.A. lifted its holdings in shares of Circle Internet Group by 53.3% during the third quarter. Eurizon Capital SGR S.p.A. now owns 2,847 shares of the company’s stock worth $234,000 after purchasing an additional 990 shares during the period. Maryland State Retirement & Pension System lifted its holdings in shares of Circle Internet Group by 14.2% during the third quarter. Maryland State Retirement & Pension System now owns 10,880 shares of the company’s stock worth $894,000 after purchasing an additional 1,351 shares during the period. Finally, Fulcrum Asset Management LLP bought a new stake in shares of Circle Internet Group in the third quarter worth $4,265,000.

About Circle Internet Group

Circle Internet Group develops digital financial infrastructure centered on stablecoins and blockchain-based payments. Its principal products include USDC, a U.S. dollar-pegged stablecoin, and EURC, a euro-pegged stablecoin. The company also provides services and software that help businesses use digital currencies for payments and financial applications.

Circle Mint is a platform for eligible institutions to mint and redeem USDC and EURC. Circle also offers developer tools and infrastructure, including its Cross-Chain Transfer Protocol, which supports the movement of USDC across compatible blockchains.