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

Circle Internet Group, Inc. (NYSE:CRCL) President Heath Tarbert sold 39,240 shares of the firm’s stock in a transaction on 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 completion of the sale, the president directly owned 502,558 shares of the company’s stock, valued at $40,943,400.26. This trade represents a 7.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 shares were sold at an average price of $95.04, for a total transaction of $1,425,600.00.

Circle Internet Group Price Performance

Shares of CRCL traded down $4.79 during mid-day trading on Friday, reaching $77.85. The stock had a trading volume of 12,261,592 shares, compared to its average volume of 15,330,555. Circle Internet Group, Inc. has a 52-week low of $49.90 and a 52-week high of $298.99. The business’s fifty day moving average is $102.17 and its 200 day moving average is $89.93. The firm has a market cap of $19.35 billion and a price-to-earnings ratio of -24.33.

Circle Internet Group (NYSE:CRCL) last issued its earnings results on Monday, May 11th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.06). The firm had revenue of $694.13 million for the quarter. Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.The company’s quarterly revenue was up 20.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Circle Internet Group, Inc. will post 1.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CRCL has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Circle Internet Group in a research report on Monday, April 20th. KeyCorp started coverage on shares of Circle Internet Group in a research note on Tuesday, May 26th. They set a “sector weight” rating for the company. Mizuho dropped their price objective on shares of Circle Internet Group from $135.00 to $85.00 and set a “neutral” rating for the company in a report on Friday, June 5th. Wells Fargo & Company increased their price objective on shares of Circle Internet Group from $111.00 to $142.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $101.00 price target on shares of Circle Internet Group in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $134.18.

Institutional Investors Weigh In On Circle Internet Group

Hedge funds have recently made changes to their positions in the business. General Catalyst Group Management LLC purchased a new position in shares of Circle Internet Group during the second quarter worth about $3,647,694,000. Marshall Wace LLP raised its stake in Circle Internet Group by 23.8% during the 4th 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 Circle Internet Group during the 4th quarter worth approximately $554,792,000. Accel XI Associates L.L.C. purchased a new position in shares of Circle Internet Group in the 4th quarter valued at approximately $513,844,000. Finally, Vanguard Group Inc. grew its stake in shares of Circle Internet Group by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 5,653,110 shares of the company’s stock valued at $448,292,000 after purchasing 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.