Circle Internet Group (NYSE:CRCL) President Sells $969,275.42 in Stock

Circle Internet Group, Inc. (NYSE:CRCL) President Heath Tarbert sold 10,753 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $90.14, for a total value of $969,275.42. Following the sale, the president directly owned 535,148 shares of the company’s stock, valued at approximately $48,238,240.72. This represents a 1.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 value of $274,380.96.
• On Friday, December 12th, Heath Tarbert sold 1,300 shares of Circle Internet Group stock. The shares were sold at an average price of $90.10, for a total transaction of $117,130.00.

Circle Internet Group Trading Up 15.3%

Shares of NYSE:CRCL traded up $12.75 during trading on Monday, hitting $96.19. 32,585,178 shares of the stock were exchanged, compared to its average volume of 13,431,398. The company has a market cap of $22.65 billion and a PE ratio of -42.00. The company has a fifty day moving average price of $72.17 and a two-hundred day moving average price of $99.61. Circle Internet Group, Inc. has a 12-month low of $49.90 and a 12-month high of $298.99.

Circle Internet Group (NYSE:CRCL) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.25 by $0.18. The business had revenue of $770.23 million during the quarter. The company’s revenue for the quarter was up 76.9% compared to the same quarter last year.

Hedge Funds Weigh In On Circle Internet Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. General Catalyst Group Management LLC acquired a new position in shares of Circle Internet Group during the second quarter valued at approximately $3,647,694,000. Marshall Wace LLP purchased a new position in shares of Circle Internet Group in the second quarter worth approximately $1,547,214,000. IDG Accel China Capital II Associates L.P. acquired a new stake in Circle Internet Group during the 4th quarter valued at $554,792,000. Accel XI Associates L.L.C. purchased a new stake in Circle Internet Group in the 4th quarter worth about $513,844,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Circle Internet Group by 61.6% during the third quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock worth $739,624,000 after purchasing an additional 2,126,072 shares during the period.

Analyst Ratings Changes

CRCL has been the subject of a number of research analyst reports. Mizuho set a $77.00 target price on shares of Circle Internet Group and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. Sanford C. Bernstein set a $190.00 price objective on shares of Circle Internet Group in a research report on Tuesday, January 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Circle Internet Group in a research note on Wednesday, January 21st. Wolfe Research initiated coverage on shares of Circle Internet Group in a research report on Tuesday, December 2nd. They set an “underperform” rating and a $60.00 price target for the company. Finally, William Blair reiterated an “outperform” rating on shares of Circle Internet Group in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $122.12.

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.