Hossein Razzaghi Sells 34,623 Shares of Circle Internet Group (NYSE:CRCL) Stock

Circle Internet Group, Inc. (NYSE:CRCL) insider Hossein Razzaghi sold 34,623 shares of Circle Internet Group stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $78.85, for a total value of $2,730,023.55. Following the sale, the insider owned 666,404 shares of the company’s stock, valued at approximately $52,545,955.40. This represents a 4.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Circle Internet Group Price Performance

NYSE:CRCL traded down $4.79 on Friday, reaching $77.85. The stock had a trading volume of 12,261,592 shares, compared to its average volume of 15,330,555. 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 cap of $19.35 billion and a price-to-earnings ratio of -24.33. The firm’s fifty day moving average is $102.17 and its two-hundred day moving average is $89.93.

Circle Internet Group (NYSE:CRCL) last released its earnings results on Monday, May 11th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.06). The firm had revenue of $694.13 million during the quarter. Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.Circle Internet Group’s revenue was up 20.0% compared to the same quarter last year. As a group, research analysts forecast that Circle Internet Group, Inc. will post 1.02 earnings per share for the current fiscal year.

Institutional Trading of Circle Internet Group

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Circle Internet Group in a research note on Monday, April 20th. Clear Str raised Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 16th. Compass Point reiterated a “sell” rating and issued a $77.00 target price (down from $79.00) on shares of Circle Internet Group in a report on Thursday, April 9th. Needham & Company LLC boosted 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. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $101.00 price target on shares of Circle Internet Group in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.