Jeremy Allaire Sells 7,055 Shares of Circle Internet Group (NYSE:CRCL) Stock

Circle Internet Group, Inc. (NYSE:CRCL) CEO Jeremy Allaire sold 7,055 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $90.05, for a total value of $635,302.75. Following the sale, the chief executive officer owned 77,572 shares of the company’s stock, valued at $6,985,358.60. This trade represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Jeremy Allaire also recently made the following trade(s):

• On Friday, December 12th, Jeremy Allaire sold 758 shares of Circle Internet Group stock. The shares were sold at an average price of $90.05, for a total value of $68,257.90.

Circle Internet Group Stock Performance

Circle Internet Group stock traded up $7.04 during trading hours on Tuesday, reaching $82.50. The stock had a trading volume of 14,951,131 shares, compared to its average volume of 18,438,279. The stock has a 50 day moving average of $104.27. Circle Internet Group, Inc. has a 52 week low of $64.00 and a 52 week high of $298.99.

Circle Internet Group (NYSE:CRCL) last released its quarterly earnings results on Wednesday, November 12th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.44. The firm had revenue of $739.76 million during the quarter. The company’s revenue was up 65.9% compared to the same quarter last year.

Hedge Funds Weigh In On 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 stake in Circle Internet Group during the 2nd quarter worth about $3,647,694,000. Marshall Wace LLP acquired a new position in shares of Circle Internet Group in the second quarter valued at about $1,547,214,000. ARK Investment Management LLC acquired a new position in shares of Circle Internet Group in the second quarter valued at about $530,165,000. Vanguard Group Inc. raised its stake in shares of Circle Internet Group by 61.6% in the third quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock worth $739,624,000 after purchasing an additional 2,126,072 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Circle Internet Group by 282.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,299,374 shares of the company’s stock worth $172,271,000 after purchasing an additional 959,309 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Circle Internet Group in a report on Wednesday, October 8th. William Blair reissued an “outperform” rating on shares of Circle Internet Group in a research report on Wednesday, November 12th. The Goldman Sachs Group reduced their target price on Circle Internet Group from $92.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, November 21st. JPMorgan Chase & Co. raised Circle Internet Group from an “underweight” rating to an “overweight” rating and raised their price target for the stock from $94.00 to $100.00 in a report on Thursday, November 13th. Finally, Needham & Company LLC dropped their price target on Circle Internet Group from $250.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Circle Internet Group currently has a consensus rating of “Hold” and a consensus target price of $144.69.

About Circle Internet Group

Founded in 2013, Circle’s mission is to raise global economic prosperity through the frictionless exchange of value. We intend to connect the world more deeply by building a new global economic system on the foundation of the internet, and to facilitate the creation of a world where everyone, everywhere can share value as easily as we can today share information, content, and communications.