Circle Internet Group (NYSE:CRCL) CFO Sells $4,050,000.00 in Stock

Circle Internet Group, Inc. (NYSE:CRCL) CFO Jeremy Fox-Geen sold 45,000 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $90.00, for a total value of $4,050,000.00. Following the sale, the chief financial officer owned 323,837 shares in the company, valued at approximately $29,145,330. This represents a 12.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, August 13th, Jeremy Fox-Geen sold 8,476 shares of Circle Internet Group stock. The stock was sold at an average price of $75.00, for a total transaction of $635,700.00.
• On Friday, June 5th, Jeremy Fox-Geen sold 8,120 shares of Circle Internet Group stock. The stock was sold at an average price of $88.00, for a total transaction of $714,560.00.

Circle Internet Group Stock Down 2.3%

Shares of NYSE CRCL opened at $89.91 on Thursday. The stock’s 50-day simple moving average is $69.74 and its two-hundred day simple moving average is $87.24. The firm has a market capitalization of $22.83 billion, a P/E ratio of 61.58 and a beta of 0.23. Circle Internet Group, Inc. has a twelve month low of $49.90 and a twelve month high of $159.47.

Circle Internet Group (NYSE:CRCL) last announced 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). The company had revenue of $701.32 million during the quarter. Circle Internet Group had a net margin of 15.53% and a return on equity of 13.58%. Circle Internet Group’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($4.48) earnings per share. As a group, research analysts anticipate that Circle Internet Group, Inc. will post 1.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. General Catalyst Group Management LLC purchased a new position in Circle Internet Group in the 2nd quarter worth approximately $3,647,694,000. California State Teachers Retirement System boosted its stake in shares of Circle Internet Group by 222,662.5% during the second quarter. California State Teachers Retirement System now owns 13,871,418 shares of the company’s stock valued at $868,767,000 after purchasing an additional 13,865,191 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 approximately $554,792,000. Accel XI Associates L.L.C. bought a new position in shares of Circle Internet Group in the fourth quarter worth approximately $513,844,000. Finally, Southpoint Capital Advisors LP increased its stake in shares of Circle Internet Group by 175.0% in the first quarter. Southpoint Capital Advisors LP now owns 3,300,000 shares of the company’s stock worth $314,853,000 after buying an additional 2,100,000 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CRCL shares. Raymond James Financial began coverage on Circle Internet Group in a research note on Tuesday, July 21st. They set a “market perform” rating for the company. Susquehanna increased their price objective on Circle Internet Group from $69.00 to $92.00 and gave the company a “neutral” rating in a research report on Monday. Compass Point set a $62.00 price objective on Circle Internet Group in a report on Wednesday, July 15th. William Blair restated an “outperform” rating on shares of Circle Internet Group in a research report on Wednesday, August 5th. Finally, Mizuho set a $45.00 target price on Circle Internet Group and gave the stock a “neutral” rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $99.35.

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.