Circle Internet Group (NYSE:CRCL) Insider Hossein Razzaghi Sells 1,831 Shares of Stock

Circle Internet Group, Inc. (NYSE:CRCL) insider Hossein Razzaghi sold 1,831 shares of the stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $73.06, for a total value of $133,772.86. Following the completion of the sale, the insider directly owned 637,770 shares of the company’s stock, valued at approximately $46,595,476.20. This represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Hossein Razzaghi also recently made the following trade(s):

• On Friday, October 2nd, Hossein Razzaghi sold 1,830 shares of Circle Internet Group stock. The shares were sold at an average price of $85.78, for a total value of $156,977.40.
• On Wednesday, September 2nd, Hossein Razzaghi sold 7,458 shares of Circle Internet Group stock. The shares were sold at an average price of $87.87, for a total value of $655,334.46.

Circle Internet Group Stock Performance

Shares of NYSE CRCL traded up $3.25 during mid-day trading on Tuesday, reaching $75.33. The company had a trading volume of 8,591,297 shares, compared to its average volume of 14,278,316. The stock has a fifty day moving average of $86.96 and a two-hundred day moving average of $85.76. The company has a market capitalization of $19.13 billion, a price-to-earnings ratio of 51.60 and a beta of 0.73. Circle Internet Group, Inc. has a 12-month low of $49.90 and a 12-month high of $140.00.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.08). The company had revenue of $701.32 million for the quarter. Circle Internet Group had a net margin of 15.53% and a return on equity of 13.58%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($4.48) earnings per share. Sell-side analysts forecast that Circle Internet Group, Inc. will post 1.12 earnings per share for the current fiscal year.

Institutional Trading of Circle Internet Group

A number of institutional investors and hedge funds have recently made changes to their positions in CRCL. Public Employees Retirement System of Ohio acquired a new position in shares of Circle Internet Group during the 2nd quarter valued at about $5,539,000. Fifth Third Bancorp acquired a new stake in Circle Internet Group in the 1st quarter worth approximately $7,282,000. SBI Holdings USA Inc. acquired a new stake in Circle Internet Group in the 2nd quarter worth approximately $101,084,820. Sumitomo Mitsui Trust Group Inc. boosted its position in Circle Internet Group by 13.3% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,917,764 shares of the company’s stock worth $278,384,000 after purchasing an additional 342,080 shares during the period. Finally, Handelsbanken Fonder AB bought a new stake in Circle Internet Group during the second quarter worth approximately $6,804,000.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CRCL shares. Seaport Research Partners set a $100.00 price target on shares of Circle Internet Group in a research note on Monday, August 17th. Keefe, Bruyette & Woods initiated coverage on Circle Internet Group in a research note on Tuesday, September 8th. They set a “market perform” rating and a $105.00 price target for the company. HC Wainwright reduced their price target on Circle Internet Group from $115.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, August 6th. TD Cowen boosted their price target on Circle Internet Group from $87.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, September 17th. Finally, Wolfe Research increased their price objective on Circle Internet Group from $50.00 to $65.00 and gave the stock an “underperform” rating in a report on Tuesday, August 25th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $97.94.

Circle Internet Group Company Profile

Circle Internet Group, Inc is a global financial technology company focused on digital currencies and blockchain-based payments. The company is best known for issuing USD Coin (USDC), a dollar-backed stablecoin designed to maintain a value of one U.S. dollar and support digital transactions, payments, trading and other financial applications. Circle also issues EURC, a euro-backed stablecoin.

Circle provides infrastructure and services for businesses, financial institutions and developers through products such as Circle Mint, which supports the creation, redemption and transfer of its stablecoins, as well as APIs and developer tools for integrating digital-asset payments and blockchain functionality.