Insider Selling: Circle Internet Group (NYSE:CRCL) Director Sells 1,666 Shares of Stock

Circle Internet Group, Inc. (NYSE:CRCL) Director M Michele Burns sold 1,666 shares of the firm’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $92.38, for a total value of $153,905.08. Following the sale, the director owned 341,872 shares in the company, valued at $31,582,135.36. The trade was a 0.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

M Michele Burns also recently made the following trade(s):

• On Thursday, March 12th, M Michele Burns sold 11,670 shares of Circle Internet Group stock. The shares were sold at an average price of $112.71, for a total value of $1,315,325.70.
• On Wednesday, March 4th, M Michele Burns sold 25,000 shares of Circle Internet Group stock. The shares were sold at an average price of $105.00, for a total value of $2,625,000.00.
• On Monday, March 2nd, M Michele Burns sold 80,000 shares of Circle Internet Group stock. The shares were sold at an average price of $94.88, for a total value of $7,590,400.00.
• On Thursday, February 26th, M Michele Burns sold 10,000 shares of Circle Internet Group stock. The shares were sold at an average price of $82.00, for a total value of $820,000.00.

Circle Internet Group Trading Up 0.1%

Shares of NYSE:CRCL traded up $0.05 on Wednesday, reaching $94.17. 10,474,343 shares of the company traded hands, compared to its average volume of 15,618,461. The business’s 50-day simple moving average is $87.06 and its 200 day simple moving average is $95.30. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $298.99. The stock has a market capitalization of $23.24 billion and a P/E ratio of -50.63.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.18. The company had revenue of $770.23 million for the quarter. The company’s revenue was up 76.9% compared to the same quarter last year.

Hedge Funds Weigh In On Circle Internet Group

A number of hedge funds have recently added to or reduced their stakes in the company. J. Derek Lewis & Associates Inc. purchased a new position in Circle Internet Group in the 4th quarter worth approximately $1,477,000. Rockefeller Capital Management L.P. raised its holdings in Circle Internet Group by 17.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 255,222 shares of the company’s stock worth $20,239,000 after acquiring an additional 38,567 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Circle Internet Group by 4,329.6% in the 4th quarter. Hsbc Holdings PLC now owns 168,104 shares of the company’s stock worth $13,433,000 after acquiring an additional 164,309 shares during the last quarter. Sit Investment Associates Inc. grew its position in Circle Internet Group by 93.6% in the 4th quarter. Sit Investment Associates Inc. now owns 9,100 shares of the company’s stock worth $722,000 after purchasing an additional 4,400 shares during the period. Finally, Virtu Financial LLC bought a new stake in Circle Internet Group in the 4th quarter worth approximately $2,159,000.

Wall Street Analysts Forecast Growth

CRCL has been the topic of several recent analyst reports. Robert W. Baird raised their target price on Circle Internet Group from $110.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Mizuho raised their target price on Circle Internet Group from $100.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, March 13th. The Goldman Sachs Group raised their target price on Circle Internet Group from $79.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, January 5th. Sanford C. Bernstein set a $190.00 price objective on Circle Internet Group in a research report on Tuesday, January 6th. Finally, Wells Fargo & Company cut their price objective on Circle Internet Group from $128.00 to $111.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Circle Internet Group has an average rating of “Hold” and an average price target of $126.29.

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.