Circle Internet Group (NYSE:CRCL) CEO Sells $1,270,374.36 in Stock

Circle Internet Group, Inc. (NYSE:CRCL) CEO Jeremy Allaire sold 14,109 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $90.04, for a total value of $1,270,374.36. Following the transaction, the chief executive officer directly owned 56,408 shares in the company, valued at $5,078,976.32. This trade represents a 20.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Thursday, February 26th, Jeremy Allaire sold 1,516 shares of Circle Internet Group stock. The stock was sold at an average price of $90.04, for a total value of $136,500.64.
• On Monday, December 22nd, Jeremy Allaire sold 758 shares of Circle Internet Group stock. The stock was sold at an average price of $90.07, for a total transaction of $68,273.06.
• On Monday, December 22nd, Jeremy Allaire sold 7,055 shares of Circle Internet Group stock. The stock was sold at an average price of $90.07, for a total value of $635,443.85.
• On Friday, December 12th, Jeremy Allaire sold 758 shares of Circle Internet Group stock. The stock was sold at an average price of $90.05, for a total transaction of $68,257.90.
• On Friday, December 12th, Jeremy Allaire sold 7,055 shares of Circle Internet Group stock. The stock was sold at an average price of $90.05, for a total transaction of $635,302.75.

Circle Internet Group Trading Up 15.3%

CRCL stock traded up $12.75 during trading on Monday, hitting $96.19. The company had a trading volume of 32,585,178 shares, compared to its average volume of 13,431,398. Circle Internet Group, Inc. has a fifty-two week low of $49.90 and a fifty-two week high of $298.99. The firm has a market capitalization of $22.65 billion and a price-to-earnings ratio of -42.00. The business has a 50 day moving average of $72.17 and a 200 day moving average of $99.61.

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, topping the consensus estimate of $0.25 by $0.18. The business had revenue of $770.23 million during the quarter. The business’s revenue was up 76.9% on a year-over-year basis.

Institutional Investors Weigh In On Circle Internet Group

Several large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC bought a new position in Circle Internet Group during the second quarter valued at approximately $27,000. PNC Financial Services Group Inc. grew its position in Circle Internet Group by 14.9% in the third quarter. PNC Financial Services Group Inc. now owns 1,164 shares of the company’s stock worth $154,000 after acquiring an additional 151 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Circle Internet Group by 3,800.0% during the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock worth $26,000 after purchasing an additional 190 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Circle Internet Group during the 3rd quarter valued at $27,000. Finally, Allworth Financial LP bought a new position in shares of Circle Internet Group during the 2nd quarter valued at $37,000.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CRCL shares. Wolfe Research started coverage on Circle Internet Group in a research note on Tuesday, December 2nd. They issued an “underperform” rating and a $60.00 price target on the stock. Canaccord Genuity Group cut their price target on shares of Circle Internet Group from $247.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday. JPMorgan Chase & Co. reduced their target price on Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, February 10th. Robert W. Baird raised Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 14th. Finally, Mizuho set a $77.00 price target on Circle Internet Group and gave the company a “neutral” rating in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $122.12.

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 USD Coin (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.