Insider Selling: Circle Internet Group (NYSE:CRCL) Director Sells 50,000 Shares of Stock

Circle Internet Group, Inc. (NYSE:CRCL) Director Patrick Sean Neville sold 50,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $81.30, for a total value of $4,065,000.00. Following the completion of the transaction, the director directly owned 2,018 shares of the company’s stock, valued at $164,063.40. The trade was a 96.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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, June 8th, Patrick Sean Neville sold 1,034,396 shares of Circle Internet Group stock. The stock was sold at an average price of $82.87, for a total value of $85,720,396.52.
• 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 CRCL stock traded up $3.95 on Thursday, reaching $82.88. The company’s stock had a trading volume of 8,756,234 shares, compared to its average volume of 15,358,425. Circle Internet Group, Inc. has a 12-month low of $49.90 and a 12-month high of $298.99. The company has a market capitalization of $20.60 billion and a P/E ratio of -25.90. The stock’s 50 day simple moving average is $102.42 and its 200-day simple moving average is $89.85.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.21 earnings per share (EPS) 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 business had revenue of $694.13 million during the quarter. The company’s quarterly revenue was up 20.0% on a year-over-year basis. Research analysts expect that Circle Internet Group, Inc. will post 1.02 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CRCL shares. Needham & Company LLC raised their price target on Circle Internet Group from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Wells Fargo & Company raised their price target on Circle Internet Group from $111.00 to $142.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Zacks Research upgraded Circle Internet Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 17th. KeyCorp started coverage on Circle Internet Group in a research report on Tuesday, May 26th. They set a “sector weight” rating on the stock. Finally, Clear Str upgraded Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $134.18.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bartlett & CO. Wealth Management LLC purchased a new position in shares of Circle Internet Group in the fourth quarter worth about $25,000. Larson Financial Group LLC increased its holdings in shares of Circle Internet Group by 3,800.0% in 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 purchased a new position in shares of Circle Internet Group in the second quarter worth about $27,000. Bellevue Asset Management LLC purchased a new position in shares of Circle Internet Group in the fourth quarter worth about $29,000. Finally, Harbour Investments Inc. increased its holdings in shares of Circle Internet Group by 170.0% in the fourth quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock worth $30,000 after buying an additional 238 shares during the period.

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.