Insider Selling: Circle Internet Group (NYSE:CRCL) President Sells 39,240 Shares of Stock

Circle Internet Group, Inc. (NYSE:CRCL) President Heath Tarbert sold 39,240 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $81.47, for a total value of $3,196,882.80. Following the transaction, the president directly owned 502,558 shares in the company, valued at approximately $40,943,400.26. The trade was a 7.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Heath Tarbert also recently made the following trade(s):

• On Monday, April 13th, Heath Tarbert sold 15,000 shares of Circle Internet Group stock. The stock was sold at an average price of $95.04, for a total value of $1,425,600.00.

Circle Internet Group Price Performance

Circle Internet Group stock traded down $4.79 during mid-day trading on Friday, reaching $77.85. 12,261,592 shares of the company traded hands, compared to its average volume of 15,330,555. The firm’s fifty day moving average is $102.17 and its two-hundred day moving average is $89.93. Circle Internet Group, Inc. has a fifty-two week low of $49.90 and a fifty-two week high of $298.99. The company has a market capitalization of $19.35 billion and a price-to-earnings ratio of -24.33.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings data 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 negative net margin of 2.76% and a positive return on equity of 2.89%. The firm had revenue of $694.13 million during the quarter. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, equities research analysts predict that Circle Internet Group, Inc. will post 1.02 earnings per share for the current year.

Hedge Funds Weigh In On Circle Internet Group

A number of hedge funds have recently made changes to their positions in CRCL. EverSource Wealth Advisors LLC purchased a new position in Circle Internet Group in the 2nd quarter valued at $27,000. Larson Financial Group LLC boosted its position in Circle Internet Group by 3,800.0% during the third quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock worth $26,000 after acquiring an additional 190 shares during the last quarter. Montag A & Associates Inc. purchased a new stake in Circle Internet Group during the 3rd quarter valued at about $33,000. National Bank of Canada FI purchased a new stake in Circle Internet Group during the 3rd quarter valued at about $37,000. Finally, Pin Oak Investment Advisors Inc. acquired a new stake in Circle Internet Group in the 3rd quarter valued at about $39,000.

Analysts Set New Price Targets

Several research firms have recently commented on CRCL. Wall Street Zen downgraded shares of Circle Internet Group from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Morgan Stanley boosted their target price on shares of Circle Internet Group from $80.00 to $106.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 19th. Compass Point reaffirmed a “sell” rating and issued a $77.00 price target (down from $79.00) on shares of Circle Internet Group in a report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $101.00 price target on shares of Circle Internet Group in a research report on Tuesday, May 12th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Circle Internet Group in a research note on Monday, April 20th. One 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $134.18.

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.