Circle Internet Group (NYSE:CRCL) Director Sells $283,653.16 in Stock

Circle Internet Group, Inc. (NYSE:CRCL) Director M Michele Burns sold 3,332 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $85.13, for a total transaction of $283,653.16. Following the completion of the sale, the director directly owned 327,226 shares in the company, valued at approximately $27,856,749.38. This represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Circle Internet Group Price Performance

NYSE CRCL traded up $4.54 during mid-day trading on Friday, reaching $88.20. 25,790,568 shares of the stock were exchanged, compared to its average volume of 14,813,553. Circle Internet Group, Inc. has a one year low of $49.90 and a one year high of $159.47. The stock has a 50 day simple moving average of $69.01 and a 200-day simple moving average of $86.27. The stock has a market cap of $22.39 billion, a P/E ratio of 60.41 and a beta of 0.23.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.08). Circle Internet Group had a net margin of 15.53% and a return on equity of 13.58%. The firm had revenue of $701.32 million for the quarter. During the same quarter in the prior year, the business earned ($4.48) earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. Sell-side analysts anticipate that Circle Internet Group, Inc. will post 1.04 EPS for the current fiscal year.

Institutional Trading of Circle Internet Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. General Catalyst Group Management LLC acquired a new position in Circle Internet Group during the 2nd quarter worth approximately $3,647,694,000. Marshall Wace LLP grew its stake in 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 period. IDG Accel China Capital II Associates L.P. acquired a new stake in Circle Internet Group in the fourth quarter valued at approximately $554,792,000. Accel XI Associates L.L.C. bought a new stake in shares of Circle Internet Group during the fourth quarter valued at approximately $513,844,000. Finally, Vanguard Group Inc. increased its holdings in shares of Circle Internet Group by 1.3% during 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 in the last quarter.

Analysts Set New Price Targets

Several research firms recently commented on CRCL. Morgan Stanley decreased their target price on Circle Internet Group from $38.00 to $37.00 and set an “underweight” rating for the company in a research note on Thursday, August 6th. The Goldman Sachs Group set a $71.00 price target on Circle Internet Group in a research note on Thursday, August 6th. Wells Fargo & Company increased their price target on Circle Internet Group from $111.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Mizuho set a $45.00 price objective on shares of Circle Internet Group and gave the stock a “neutral” rating in a research report on Friday, July 31st. Finally, Compass Point set a $62.00 price objective on shares of Circle Internet Group in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Circle Internet Group presently has a consensus rating of “Hold” and a consensus target price of $97.12.

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.