Insider Selling: Circle Internet Group (NYSE:CRCL) Director Sells $2,084,023.48 in Stock

Circle Internet Group, Inc. (NYSE:CRCL) Director Rajeev Date sold 23,254 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $89.62, for a total transaction of $2,084,023.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Circle Internet Group Trading Up 15.3%

Shares of NYSE:CRCL traded up $12.75 during mid-day trading on Monday, reaching $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 one year low of $49.90 and a one year high of $298.99. The company’s 50-day moving average price is $72.17 and its 200-day moving average price is $99.61. The firm has a market cap of $22.65 billion and a price-to-earnings ratio of -42.00.

Circle Internet Group (NYSE:CRCL) last issued its earnings results on Wednesday, February 25th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.18. The firm had revenue of $770.23 million during the quarter. The business’s revenue for the quarter was up 76.9% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Several brokerages have commented on CRCL. William Blair restated an “outperform” rating on shares of Circle Internet Group in a research note on Wednesday. The Goldman Sachs Group raised their price objective on shares of Circle Internet Group from $79.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, January 5th. Wells Fargo & Company decreased their target price on shares of Circle Internet Group from $128.00 to $111.00 and set an “overweight” rating on the stock in a report on Thursday. HC Wainwright started coverage on shares of Circle Internet Group in a research note on Friday, December 19th. They issued a “neutral” rating and a $85.00 target price on the stock. Finally, Monness Crespi & Hardt began coverage on shares of Circle Internet Group in a research report on Monday, November 10th. They set a “buy” rating and a $150.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Circle Internet Group has a consensus rating of “Hold” and an average target price of $122.12.

Institutional Trading of Circle Internet Group

A number of hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC bought a new position in shares of Circle Internet Group during the second quarter valued at about $27,000. PNC Financial Services Group Inc. boosted its holdings in Circle Internet Group by 14.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,164 shares of the company’s stock valued at $154,000 after acquiring an additional 151 shares during the period. Larson Financial Group LLC grew its position in 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 acquiring an additional 190 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in Circle Internet Group in the 3rd quarter worth approximately $27,000. Finally, Allworth Financial LP bought a new stake in Circle Internet Group in the second quarter valued at approximately $37,000.

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 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.