Insider Selling: Circle Internet Group (NYSE:CRCL) CAO Sells 1,194 Shares of Stock

Circle Internet Group, Inc. (NYSE:CRCL) CAO Tamara Schulz sold 1,194 shares of Circle Internet Group stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $64.40, for a total transaction of $76,893.60. Following the completion of the sale, the chief accounting officer directly owned 85,871 shares of the company’s stock, valued at approximately $5,530,092.40. The trade was a 1.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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.

Circle Internet Group Trading Up 4.2%

Circle Internet Group stock traded up $2.61 during mid-day trading on Thursday, hitting $64.56. 17,677,699 shares of the company’s stock were exchanged, compared to its average volume of 15,297,530. Circle Internet Group, Inc. has a 1-year low of $49.90 and a 1-year high of $262.97. The stock has a 50 day moving average of $96.14 and a two-hundred day moving average of $89.36. The stock has a market cap of $16.05 billion and a P/E ratio of -20.17.

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

Analyst Upgrades and Downgrades

CRCL has been the topic of a number of recent analyst reports. KeyCorp initiated coverage on shares of Circle Internet Group in a research report on Tuesday, May 26th. They issued a “sector weight” rating on the stock. Wall Street Zen downgraded shares of Circle Internet Group from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. HC Wainwright upgraded shares of Circle Internet Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $85.00 to $150.00 in a report on Monday, May 18th. Zacks Research upgraded Circle Internet Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 17th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $101.00 target price on shares of Circle Internet Group in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $117.38.

Institutional Trading of Circle Internet Group

A number of hedge funds have recently modified their holdings of CRCL. Creative Planning acquired a new stake in shares of Circle Internet Group during the 2nd quarter worth approximately $295,000. Arrowstreet Capital Limited Partnership acquired a new stake in Circle Internet Group during the second quarter worth $1,474,000. Invesco Ltd. acquired a new stake in Circle Internet Group during the second quarter worth $47,640,000. EverSource Wealth Advisors LLC bought a new stake in Circle Internet Group in the 2nd quarter valued at $27,000. Finally, Baird Financial Group Inc. bought a new position in shares of Circle Internet Group during the 2nd quarter worth about $2,649,000.

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 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.