Circle Internet Group (NYSE:CRCL) Director Sells 3,332 Shares of Stock

Circle Internet Group, Inc. (NYSE:CRCL) Director M Michele Burns sold 3,332 shares of Circle Internet Group stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $85.13, for a total transaction of $283,653.16. Following the completion of the transaction, the director directly owned 327,226 shares in the company, valued at $27,856,749.38. This trade represents a 1.01% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Circle Internet Group Trading Up 5.4%

NYSE CRCL traded up $4.54 on Friday, hitting $88.20. 25,790,568 shares of the company’s stock were exchanged, compared to its average volume of 14,813,553. The stock has a 50-day moving average of $69.01 and a 200-day moving average of $86.27. The stock has a market cap of $22.39 billion, a price-to-earnings ratio of 60.41 and a beta of 0.23. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $159.47.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.08). Circle Internet Group had a return on equity of 13.58% and a net margin of 15.53%.The business had revenue of $701.32 million for the quarter. During the same period in the prior year, the business earned ($4.48) earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, analysts predict that Circle Internet Group, Inc. will post 1.04 earnings per share for the current year.

Institutional Trading of Circle Internet Group

Institutional investors have recently modified their holdings of the business. General Catalyst Group Management LLC acquired a new position in Circle Internet Group during the 2nd quarter worth about $3,647,694,000. Marshall Wace LLP raised its position in shares of Circle Internet Group by 23.8% during the fourth quarter. Marshall Wace LLP now owns 9,978,729 shares of the company’s stock worth $791,313,000 after acquiring an additional 1,919,205 shares during the last quarter. IDG Accel China Capital II Associates L.P. bought a new position in shares of Circle Internet Group during the fourth quarter worth about $554,792,000. Accel XI Associates L.L.C. acquired a new position in shares of Circle Internet Group in the fourth quarter worth approximately $513,844,000. Finally, Vanguard Group Inc. boosted its holdings in Circle Internet Group by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 5,653,110 shares of the company’s stock valued at $448,292,000 after acquiring an additional 74,414 shares during the last quarter.

Analyst Ratings Changes

CRCL has been the subject of several research reports. Needham & Company LLC dropped their price objective on shares of Circle Internet Group from $150.00 to $127.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. HC Wainwright dropped their price target on Circle Internet Group from $115.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Wall Street Zen lowered Circle Internet Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Susquehanna began coverage on Circle Internet Group in a report on Wednesday, July 1st. They issued a “neutral” rating and a $69.00 target price for the company. Finally, TD Cowen increased their target price on Circle Internet Group from $82.00 to $87.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Circle Internet Group has a consensus rating of “Hold” and an average price target of $97.12.

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.