Circle Internet Group (NYSE:CRCL) President Heath Tarbert Sells 43,694 Shares

Circle Internet Group, Inc. (NYSE:CRCL) President Heath Tarbert sold 43,694 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $117.80, for a total transaction of $5,147,153.20. Following the transaction, the president owned 599,156 shares of the company’s stock, valued at approximately $70,580,576.80. The trade was a 6.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Heath Tarbert also recently made the following trade(s):

• On Monday, March 2nd, Heath Tarbert sold 122,007 shares of Circle Internet Group stock. The stock was sold at an average price of $94.23, for a total transaction of $11,496,719.61.
• On Thursday, February 26th, Heath Tarbert sold 10,753 shares of Circle Internet Group stock. The shares were sold at an average price of $90.14, for a total transaction of $969,275.42.
• On Monday, December 22nd, Heath Tarbert sold 3,048 shares of Circle Internet Group stock. The stock was sold at an average price of $90.02, for a total transaction of $274,380.96.
• On Friday, December 12th, Heath Tarbert sold 1,300 shares of Circle Internet Group stock. The stock was sold at an average price of $90.10, for a total transaction of $117,130.00.

Circle Internet Group Stock Down 4.7%

Shares of NYSE:CRCL opened at $112.58 on Thursday. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $298.99. The company has a 50-day moving average price of $76.09 and a 200 day moving average price of $98.09. The company has a market cap of $26.51 billion and a P/E ratio of -60.53.

Circle Internet Group (NYSE:CRCL) last released its earnings results 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 for the quarter. The business’s revenue was up 76.9% on a year-over-year basis.

Analyst Upgrades and Downgrades

CRCL has been the subject of several research analyst reports. Wolfe Research assumed coverage on Circle Internet Group in a research report on Tuesday, December 2nd. They issued an “underperform” rating and a $60.00 price objective for the company. Mizuho boosted their target price on shares of Circle Internet Group from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 3rd. Zacks Research cut shares of Circle Internet Group from a “hold” rating to a “strong sell” rating in a research note on Monday, February 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Circle Internet Group in a report on Wednesday, January 21st. Finally, Robert W. Baird upgraded shares of Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 14th. One equities 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 assigned a Sell rating to the company. According to MarketBeat.com, Circle Internet Group currently has an average rating of “Hold” and a consensus target price of $123.47.

Institutional Investors Weigh In On Circle Internet Group

Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. acquired a new stake in shares of Circle Internet Group in the second quarter worth approximately $65,261,000. Rakuten Securities Inc. acquired a new position in Circle Internet Group during the third quarter worth approximately $2,491,000. Telligent Fund LP acquired a new position in Circle Internet Group during the second quarter worth approximately $3,263,000. CloudAlpha Capital Management Limited Hong Kong raised its stake in Circle Internet Group by 181.1% during the third quarter. CloudAlpha Capital Management Limited Hong Kong now owns 283,964 shares of the company’s stock worth $37,648,000 after purchasing an additional 182,954 shares during the period. Finally, New York State Common Retirement Fund acquired a new position in shares of Circle Internet Group in the 3rd quarter valued at $3,248,000.

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.