Insider Selling: Circle Internet Group (NYSE:CRCL) Insider Sells 7,458 Shares

Circle Internet Group, Inc. (NYSE:CRCL) insider Hossein Razzaghi sold 7,458 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $87.87, for a total transaction of $655,334.46. Following the sale, the insider directly owned 644,865 shares in the company, valued at $56,664,287.55. This trade represents a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.

Hossein Razzaghi also recently made the following trade(s):

• On Tuesday, August 4th, Hossein Razzaghi sold 1,829 shares of Circle Internet Group stock. The stock was sold at an average price of $60.08, for a total transaction of $109,886.32.
• On Thursday, July 2nd, Hossein Razzaghi sold 1,831 shares of Circle Internet Group stock. The stock was sold at an average price of $64.40, for a total value of $117,916.40.
• On Wednesday, June 10th, Hossein Razzaghi sold 34,623 shares of Circle Internet Group stock. The shares were sold at an average price of $78.85, for a total value of $2,730,023.55.

Circle Internet Group Stock Performance

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

Circle Internet Group (NYSE:CRCL) last issued its earnings results 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 net margin of 15.53% and a return on equity of 13.58%. The business had revenue of $701.32 million during the quarter. During the same quarter in the previous year, the business earned ($4.48) earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. Analysts predict that Circle Internet Group, Inc. will post 1.05 EPS for the current year.

Institutional Trading of Circle Internet Group

Several hedge funds and other institutional investors have recently modified their holdings of CRCL. Larson Financial Group LLC boosted its position in shares of Circle Internet Group by 3,800.0% during 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 period. EverSource Wealth Advisors LLC acquired a new stake in Circle Internet Group in the 2nd quarter valued at approximately $27,000. Harbour Investments Inc. raised its position in Circle Internet Group by 170.0% in the 4th quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock valued at $30,000 after buying an additional 238 shares during the last quarter. WPG Advisers LLC bought a new stake in Circle Internet Group in the 1st quarter valued at approximately $31,000. Finally, First Horizon Corp bought a new stake in Circle Internet Group in the 1st quarter valued at approximately $35,000.

Wall Street Analyst Weigh In

CRCL has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $101.00 target price on shares of Circle Internet Group in a research note on Tuesday, May 12th. Susquehanna upped their price target on Circle Internet Group from $69.00 to $92.00 and gave the company a “neutral” rating in a research note on Monday, August 24th. KeyCorp assumed coverage on shares of Circle Internet Group in a research report on Tuesday, May 26th. They issued a “sector weight” rating on the stock. Canaccord Genuity Group reduced their price target on shares of Circle Internet Group from $160.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Finally, Wolfe Research boosted their target price on Circle Internet Group from $50.00 to $65.00 and gave the company an “underperform” rating in a research note on Tuesday, August 25th. 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’s stock. Based on data from MarketBeat, Circle Internet Group presently has a consensus rating of “Hold” and an average price target of $99.35.

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.