Insider Selling: Circle Internet Group (NYSE:CRCL) Director Sells $85,720,396.52 in Stock

Circle Internet Group, Inc. (NYSE:CRCL) Director Patrick Sean Neville sold 1,034,396 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $82.87, for a total value of $85,720,396.52. Following the transaction, the director owned 2,018 shares in the company, valued at $167,231.66. The trade was a 99.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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.

Patrick Sean Neville also recently made the following trade(s):

• On Tuesday, June 9th, Patrick Sean Neville sold 50,000 shares of Circle Internet Group stock. The stock was sold at an average price of $81.30, for a total value of $4,065,000.00.
• On Friday, May 1st, Patrick Sean Neville sold 5,000 shares of Circle Internet Group stock. The stock was sold at an average price of $92.64, for a total value of $463,200.00.
• On Friday, May 1st, Patrick Sean Neville sold 30,000 shares of Circle Internet Group stock. The stock was sold at an average price of $92.65, for a total value of $2,779,500.00.
• On Wednesday, April 1st, Patrick Sean Neville sold 5,000 shares of Circle Internet Group stock. The stock was sold at an average price of $98.04, for a total value of $490,200.00.
• On Wednesday, April 1st, Patrick Sean Neville sold 30,000 shares of Circle Internet Group stock. The stock was sold at an average price of $98.04, for a total value of $2,941,200.00.

Circle Internet Group Stock Up 5.0%

Shares of NYSE:CRCL opened at $82.88 on Friday. Circle Internet Group, Inc. has a twelve month low of $49.90 and a twelve month high of $298.99. The stock’s 50 day moving average is $102.17 and its 200-day moving average is $89.93. The firm has a market capitalization of $20.60 billion and a price-to-earnings ratio of -25.90.

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

Institutional Investors Weigh In On Circle Internet Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC increased its position in shares of Circle Internet Group by 27.4% during the 1st quarter. NewEdge Advisors LLC now owns 6,594 shares of the company’s stock valued at $629,000 after purchasing an additional 1,420 shares during the last quarter. Caerus Investment Advisors LLC purchased a new stake in shares of Circle Internet Group during the 1st quarter valued at $265,000. Lavelle Capital LP purchased a new stake in shares of Circle Internet Group during the 1st quarter valued at $1,908,000. CTC Alternative Strategies Ltd. purchased a new stake in shares of Circle Internet Group during the 1st quarter valued at $382,000. Finally, Essential Partners LLC increased its position in shares of Circle Internet Group by 1,728.6% during the 1st quarter. Essential Partners LLC now owns 768 shares of the company’s stock valued at $73,000 after purchasing an additional 726 shares during the last quarter.

Analyst Upgrades and Downgrades

CRCL has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $101.00 target price on shares of Circle Internet Group in a research report on Tuesday, May 12th. Needham & Company LLC upped their target price on Circle Internet Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. William Blair reaffirmed an “outperform” rating on shares of Circle Internet Group in a research report on Thursday. Zacks Research raised Circle Internet Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 17th. Finally, Mizuho lowered their price target on Circle Internet Group from $135.00 to $85.00 and set a “neutral” rating for the company in a research report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $134.18.

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.