Circle Internet Group (NYSE:CRCL) President Heath Tarbert Sells 39,240 Shares of Stock

Circle Internet Group, Inc. (NYSE:CRCL) President Heath Tarbert sold 39,240 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $81.47, for a total value of $3,196,882.80. Following the transaction, the president owned 502,558 shares of the company’s stock, valued at approximately $40,943,400.26. This trade represents a 7.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Heath Tarbert also recently made the following trade(s):

• On Monday, April 13th, Heath Tarbert sold 15,000 shares of Circle Internet Group stock. The stock was sold at an average price of $95.04, for a total value of $1,425,600.00.

Circle Internet Group Trading Down 5.8%

CRCL stock opened at $77.85 on Friday. The stock has a 50-day moving average price of $101.91 and a two-hundred day moving average price of $89.84. The stock has a market cap of $19.35 billion and a PE ratio of -24.33. 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 earnings results on Monday, May 11th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $694.13 million for the quarter. Circle Internet Group’s revenue was up 20.0% on a year-over-year basis. On average, analysts forecast that Circle Internet Group, Inc. will post 1.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CRCL. Clear Str upgraded shares of Circle Internet Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 16th. Freedom Capital upgraded shares of Circle Internet Group to a “hold” rating in a report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $101.00 price objective on shares of Circle Internet Group in a report on Tuesday, May 12th. Wall Street Zen downgraded Circle Internet Group from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. Finally, Wells Fargo & Company lifted their target price on Circle Internet Group from $111.00 to $142.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $134.18.

Institutional Trading of Circle Internet Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. General Catalyst Group Management LLC acquired a new stake in shares of Circle Internet Group in the second quarter valued at about $3,647,694,000. Marshall Wace LLP increased its position in shares of Circle Internet Group by 23.8% in the fourth quarter. Marshall Wace LLP now owns 9,978,729 shares of the company’s stock valued at $791,313,000 after acquiring an additional 1,919,205 shares during the last quarter. IDG Accel China Capital II Associates L.P. acquired a new stake in shares of Circle Internet Group in the fourth quarter valued at about $554,792,000. Accel XI Associates L.L.C. acquired a new stake in shares of Circle Internet Group in the fourth quarter valued at about $513,844,000. Finally, Vanguard Group Inc. increased its position in shares of Circle Internet Group by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 5,653,110 shares of the company’s stock valued at $448,292,000 after acquiring an additional 74,414 shares during 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.