Patrick Sean Neville Sells 50,000 Shares of Circle Internet Group (NYSE:CRCL) Stock

Circle Internet Group, Inc. (NYSE:CRCL) Director Patrick Neville sold 50,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $92.09, for a total transaction of $4,604,500.00. Following the completion of the sale, the director directly owned 2,018 shares of the company’s stock, valued at $185,837.62. The trade was a 96.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 3rd, Patrick Neville sold 50,000 shares of Circle Internet Group stock. The shares were sold at an average price of $59.55, for a total transaction of $2,977,500.00.
• On Wednesday, July 1st, Patrick Neville sold 50,000 shares of Circle Internet Group stock. The shares were sold at an average price of $62.65, for a total value of $3,132,500.00.
• On Tuesday, June 9th, Patrick Neville sold 50,000 shares of Circle Internet Group stock. The shares were sold at an average price of $81.30, for a total value of $4,065,000.00.
• On Monday, June 8th, Patrick Neville sold 1,034,396 shares of Circle Internet Group stock. The shares were sold at an average price of $82.87, for a total transaction of $85,720,396.52.

Circle Internet Group Price Performance

Shares of CRCL traded up $14.44 during trading hours on Thursday, hitting $103.08. 24,582,449 shares of the company were exchanged, compared to its average volume of 14,892,744. The firm has a fifty day simple moving average of $71.12 and a 200-day simple moving average of $88.39. The company has a market capitalization of $26.17 billion, a PE ratio of 70.60 and a beta of 0.56. Circle Internet Group, Inc. has a one year low of $49.90 and a one year high of $159.47.

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 the consensus estimate of $0.26 by ($0.08). The firm had revenue of $701.32 million during the quarter. Circle Internet Group had a net margin of 15.53% and a return on equity of 13.58%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($4.48) EPS. Sell-side analysts expect that Circle Internet Group, Inc. will post 1.05 EPS for the current year.

Institutional Investors Weigh In On Circle Internet Group

Several institutional investors and hedge funds have recently modified their holdings of CRCL. General Catalyst Group Management LLC acquired a new position in Circle Internet Group during the second quarter worth $3,647,694,000. California State Teachers Retirement System boosted its stake in shares of Circle Internet Group by 222,662.5% during the 2nd quarter. California State Teachers Retirement System now owns 13,871,418 shares of the company’s stock worth $868,767,000 after acquiring an additional 13,865,191 shares in the last quarter. IDG Accel China Capital II Associates L.P. acquired a new position in shares of Circle Internet Group during the 4th quarter valued at about $554,792,000. Accel XI Associates L.L.C. bought a new position in shares of Circle Internet Group in the 4th quarter valued at approximately $513,844,000. Finally, Southpoint Capital Advisors LP lifted its holdings in Circle Internet Group by 175.0% in the 1st quarter. Southpoint Capital Advisors LP now owns 3,300,000 shares of the company’s stock worth $314,853,000 after purchasing an additional 2,100,000 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CRCL shares. Needham & Company LLC dropped their price objective on shares of Circle Internet Group from $150.00 to $127.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Wall Street Zen downgraded shares of Circle Internet Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Seaport Research Partners set a $100.00 price objective on Circle Internet Group in a report on Monday, August 17th. William Blair reissued an “outperform” rating on shares of Circle Internet Group in a research report on Wednesday, August 5th. Finally, Raymond James Financial assumed coverage on Circle Internet Group in a research report on Tuesday, July 21st. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.