Circle Internet Group (NYSE:CRCL) CFO Jeremy Fox-Geen Sells 8,476 Shares of Stock

Circle Internet Group, Inc. (NYSE:CRCL) CFO Jeremy Fox-Geen sold 8,476 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $75.00, for a total transaction of $635,700.00. Following the transaction, the chief financial officer directly owned 323,837 shares in the company, valued at approximately $24,287,775. This trade represents a 2.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jeremy Fox-Geen also recently made the following trade(s):

• On Friday, June 5th, Jeremy Fox-Geen sold 8,120 shares of Circle Internet Group stock. The shares were sold at an average price of $88.00, for a total value of $714,560.00.

Circle Internet Group Stock Down 4.8%

NYSE:CRCL traded down $3.59 during midday trading on Friday, hitting $71.79. The stock had a trading volume of 8,507,492 shares, compared to its average volume of 14,710,550. The stock has a 50-day moving average of $69.51 and a 200 day moving average of $86.02. The company has a market capitalization of $17.84 billion, a price-to-earnings ratio of 49.17 and a beta of 0.23. Circle Internet Group, Inc. has a one year low of $49.90 and a one year high of $159.47.

Circle Internet Group (NYSE:CRCL) last issued its earnings results on Wednesday, August 5th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.08). Circle Internet Group had a net margin of 15.53% and a return on equity of 13.58%. The firm had revenue of $701.32 million for the quarter. During the same period in the previous year, the business posted ($4.48) earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Circle Internet Group, Inc. will post 1.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on CRCL shares. Raymond James Financial assumed coverage on shares of Circle Internet Group in a report on Tuesday, July 21st. They set a “market perform” rating on the stock. Mizuho set a $45.00 price objective on shares of Circle Internet Group and gave the stock a “neutral” rating in a research note on Friday, July 31st. Wells Fargo & Company upped their target price on Circle Internet Group from $111.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Morgan Stanley dropped their target price on Circle Internet Group from $38.00 to $37.00 and set an “underweight” rating on the stock in a research report on Thursday, August 6th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $140.00 price target on shares of Circle Internet Group in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $97.12.

Hedge Funds Weigh In On Circle Internet Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRCL. Accel XI Associates L.L.C. purchased a new stake in Circle Internet Group during the 2nd quarter valued at about $56,999,563,000. AI Squared Management Ltd purchased a new position in shares of Circle Internet Group in the second quarter worth about $463,000. Ninepoint Partners LP purchased a new position in shares of Circle Internet Group in the second quarter worth about $251,000. Bank of New York Mellon Corp acquired a new stake in shares of Circle Internet Group during the second quarter worth about $25,467,000. Finally, SBI Holdings USA Inc. acquired a new stake in shares of Circle Internet Group during the second quarter worth about $101,084,820,000.

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 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.