Insider Selling: Circle Internet Group (NYSE:CRCL) CEO Sells 56,200 Shares of Stock

Circle Internet Group, Inc. (NYSE:CRCL) CEO Jeremy Allaire sold 56,200 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $98.04, for a total value of $5,509,848.00. Following the completion of the sale, the chief executive officer directly owned 333,760 shares in the company, valued at $32,721,830.40. This represents a 14.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 value of $594,514.56.
• On Wednesday, August 5th, Jeremy Allaire sold 6,064 shares of Circle Internet Group stock. The shares were sold at an average price of $62.03, for a total value of $376,149.92.
• On Wednesday, August 5th, Jeremy Allaire sold 56,200 shares of Circle Internet Group stock. The stock was sold at an average price of $62.03, for a total value of $3,486,086.00.
• On Monday, July 6th, Jeremy Allaire sold 56,200 shares of Circle Internet Group stock. The stock was sold at an average price of $67.16, for a total transaction of $3,774,392.00.
• On Monday, July 6th, Jeremy Allaire sold 3,032 shares of Circle Internet Group stock. The shares were sold at an average price of $67.16, for a total transaction of $203,629.12.

Circle Internet Group Stock Performance

NYSE CRCL traded down $2.38 on Thursday, reaching $90.61. The company’s stock had a trading volume of 8,255,308 shares, compared to its average volume of 14,808,106. Circle Internet Group, Inc. has a twelve month low of $49.90 and a twelve month high of $159.47. The firm’s 50 day moving average is $74.17 and its two-hundred day moving average is $89.72. The stock has a market cap of $23.00 billion, a PE ratio of 62.06 and a beta of 0.59.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $701.32 million during the quarter. During the same quarter in the prior year, the company earned ($4.48) earnings per share. Circle Internet Group’s revenue was up 6.6% on a year-over-year basis. Equities research analysts anticipate that Circle Internet Group, Inc. will post 1.05 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on CRCL. Susquehanna lifted their price target on shares of Circle Internet Group from $69.00 to $92.00 and gave the stock a “neutral” rating in a research report on Monday, August 24th. Needham & Company LLC cut their price objective on Circle Internet Group from $150.00 to $127.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Seaport Research Partners set a $100.00 target price on Circle Internet Group in a report on Monday, August 17th. Canaccord Genuity Group decreased their target price on 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, Mizuho set a $45.00 target price on Circle Internet Group and gave the stock a “neutral” rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $99.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC bought a new stake in Circle Internet Group in the second quarter worth $27,000. Larson Financial Group LLC lifted its position in shares of Circle Internet Group by 3,800.0% in the third quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock worth $26,000 after buying an additional 190 shares during the last quarter. National Bank of Canada FI acquired a new stake in shares of Circle Internet Group in the third quarter worth about $37,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of Circle Internet Group during the 3rd quarter worth about $39,000. Finally, WPG Advisers LLC acquired a new position in shares of Circle Internet Group during the 1st quarter valued at about $31,000.

About Circle Internet Group

Circle Internet Group, Inc is a global financial technology company focused on digital currency and blockchain infrastructure. The company is best known as the issuer of USD Coin (USDC), a dollar-denominated stablecoin designed to maintain a consistent value and facilitate digital payments, trading, and transfers on blockchain networks. Circle also issues EURC, a euro-denominated stablecoin.

Circle provides products and services for businesses, financial institutions, developers, and digital-asset platforms.