Insider Selling: Circle Internet Group (NYSE:CRCL) Insider Sells $117,916.40 in Stock

Circle Internet Group, Inc. (NYSE:CRCL) insider Hossein Razzaghi sold 1,831 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $64.40, for a total transaction of $117,916.40. Following the sale, the insider directly owned 662,856 shares in the company, valued at approximately $42,687,926.40. The trade was a 0.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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.

Hossein Razzaghi also recently made the following trade(s):

• On Wednesday, June 10th, Hossein Razzaghi sold 34,623 shares of Circle Internet Group stock. The shares were sold at an average price of $78.85, for a total transaction of $2,730,023.55.

Circle Internet Group Stock Performance

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

Circle Internet Group (NYSE:CRCL) last issued its 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). Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.The company had revenue of $694.13 million during the quarter. The business’s revenue was up 20.0% on a year-over-year basis. On average, analysts forecast that Circle Internet Group, Inc. will post 1.02 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CRCL shares. HC Wainwright raised Circle Internet Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $85.00 to $150.00 in a report on Monday, May 18th. Mizuho cut their price target on Circle Internet Group from $135.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday, June 5th. Needham & Company LLC upped their price target on shares of Circle Internet Group from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Zacks Research upgraded shares of Circle Internet Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 17th. Finally, KeyCorp started coverage on shares of Circle Internet Group in a report on Tuesday, May 26th. They issued a “sector weight” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $117.38.

Hedge Funds Weigh In On Circle Internet Group

Several institutional investors and hedge funds have recently bought and sold shares of CRCL. General Catalyst Group Management LLC bought a new stake in Circle Internet Group during the second quarter valued at about $3,647,694,000. Marshall Wace LLP raised its stake in shares of Circle Internet Group by 23.8% in the fourth quarter. Marshall Wace LLP now owns 9,978,729 shares of the company’s stock worth $791,313,000 after buying an additional 1,919,205 shares during the period. IDG Accel China Capital II Associates L.P. bought a new position in shares of Circle Internet Group in the fourth quarter worth about $554,792,000. Accel XI Associates L.L.C. purchased a new stake in Circle Internet Group in the 4th quarter worth approximately $513,844,000. Finally, Vanguard Group Inc. raised its position in shares of Circle Internet Group by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 5,653,110 shares of the company’s stock valued at $448,292,000 after purchasing an additional 74,414 shares during the period.

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.