Jeremy Fox-Geen Sells 8,120 Shares of Circle Internet Group (NYSE:CRCL) Stock

Circle Internet Group, Inc. (NYSE:CRCL) CFO Jeremy Fox-Geen sold 8,120 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $87.87, for a total transaction of $713,504.40. Following the transaction, the chief financial officer owned 308,291 shares in the company, valued at $27,089,530.17. This represents a 2.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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.

Jeremy Fox-Geen also recently made the following trade(s):

• On Tuesday, September 1st, Jeremy Fox-Geen sold 15,000 shares of Circle Internet Group stock. The shares were sold at an average price of $92.20, for a total value of $1,383,000.00.
• On Friday, August 21st, Jeremy Fox-Geen sold 45,000 shares of Circle Internet Group stock. The shares were sold at an average price of $90.00, for a total value of $4,050,000.00.
• On Thursday, August 13th, Jeremy Fox-Geen sold 8,476 shares of Circle Internet Group stock. The shares were sold at an average price of $75.00, for a total transaction of $635,700.00.
• On Friday, June 5th, Jeremy Fox-Geen sold 8,120 shares of Circle Internet Group stock. The shares were sold at an average price of $88.00, for a total value of $714,560.00.

Circle Internet Group Price Performance

Shares of NYSE CRCL traded up $14.44 during trading hours on Thursday, hitting $103.08. 24,582,449 shares of the company’s stock were exchanged, compared to its average volume of 14,892,744. The company’s 50-day moving average price is $71.12 and its 200-day moving average price is $88.39. Circle Internet Group, Inc. has a 1-year low of $49.90 and a 1-year high of $159.47. The stock has a market capitalization of $26.17 billion, a price-to-earnings ratio of 70.60 and a beta of 0.56.

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). The business had revenue of $701.32 million during the quarter. Circle Internet Group had a net margin of 15.53% and a return on equity of 13.58%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($4.48) earnings per share. On average, research analysts expect that Circle Internet Group, Inc. will post 1.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC lowered their price objective on shares of Circle Internet Group from $150.00 to $127.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. The Goldman Sachs Group reiterated a “neutral” rating and set a $81.00 target price on shares of Circle Internet Group in a research note on Tuesday, August 25th. Morgan Stanley reduced their price target on shares of Circle Internet Group from $38.00 to $37.00 and set an “underweight” rating for the company in a report on Thursday, August 6th. Canaccord Genuity Group dropped their price objective on shares of Circle Internet Group from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Finally, Seaport Research Partners set a $100.00 price objective on shares of Circle Internet Group in a research report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $99.35.

Institutional Trading of Circle Internet Group

Several institutional investors have recently modified their holdings of CRCL. Corient Private Wealth LP increased its position in shares of Circle Internet Group by 20.7% during the second quarter. Corient Private Wealth LP now owns 7,688 shares of the company’s stock valued at $482,000 after purchasing an additional 1,318 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Circle Internet Group in the second quarter worth $2,409,000. California State Teachers Retirement System boosted its stake in Circle Internet Group by 222,662.5% during the second quarter. California State Teachers Retirement System now owns 13,871,418 shares of the company’s stock worth $868,767,000 after buying an additional 13,865,191 shares in the last quarter. Raiffeisen Bank International AG boosted its stake in Circle Internet Group by 0.7% during the second quarter. Raiffeisen Bank International AG now owns 30,200 shares of the company’s stock worth $1,891,000 after buying an additional 200 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its holdings in Circle Internet Group by 18.3% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 20,289 shares of the company’s stock valued at $1,271,000 after buying an additional 3,140 shares during the period.

About Circle Internet Group

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.