Insider Selling: Circle Internet Group (NYSE:CRCL) President Sells 3,048 Shares of Stock

Circle Internet Group, Inc. (NYSE:CRCL) President Heath Tarbert sold 3,048 shares of the firm’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $90.02, for a total transaction of $274,380.96. Following the sale, the president owned 579,302 shares of the company’s stock, valued at approximately $52,148,766.04. This represents a 0.52% decrease in their position. The transaction 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 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 value of $117,130.00.

Circle Internet Group Stock Performance

Shares of NYSE CRCL traded down $4.41 during mid-day trading on Tuesday, reaching $82.60. The company had a trading volume of 9,334,052 shares, compared to its average volume of 18,173,600. The company has a 50-day moving average price of $98.14. Circle Internet Group, Inc. has a one year low of $64.00 and a one year high of $298.99.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.44. The business had revenue of $739.76 million during the quarter. The business’s revenue for the quarter was up 65.9% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. General Catalyst Group Management LLC bought a new stake in shares of Circle Internet Group during the 2nd quarter valued at $3,647,694,000. Marshall Wace LLP bought a new stake in shares of Circle Internet Group in the second quarter worth about $1,547,214,000. ARK Investment Management LLC purchased a new position in Circle Internet Group during the 2nd quarter valued at approximately $530,165,000. Vanguard Group Inc. raised its holdings in shares of Circle Internet Group by 61.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock worth $739,624,000 after acquiring an additional 2,126,072 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Circle Internet Group by 282.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,299,374 shares of the company’s stock valued at $172,271,000 after acquiring an additional 959,309 shares during the last quarter.

Wall Street Analysts Forecast Growth

CRCL has been the topic of a number of recent analyst reports. William Blair reiterated an “outperform” rating on shares of Circle Internet Group in a research note on Wednesday, November 12th. Wolfe Research started coverage on Circle Internet Group in a research report on Tuesday, December 2nd. They issued an “underperform” rating and a $60.00 price objective on the stock. Citizens Jmp began coverage on shares of Circle Internet Group in a research report on Tuesday, September 30th. They issued a “market perform” rating on the stock. Monness Crespi & Hardt initiated coverage on Circle Internet Group in a research note on Monday, November 10th. They set a “buy” rating and a $150.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Circle Internet Group in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $141.18.

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 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.