Circle Internet Group (NYSE:CRCL) CAO Sells $102,421.32 in Stock

Circle Internet Group, Inc. (NYSE:CRCL) CAO Tamara Schulz sold 1,194 shares of the stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $85.78, for a total value of $102,421.32. Following the completion of the transaction, the chief accounting officer owned 94,248 shares in the company, valued at $8,084,593.44. This represents a 1.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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.

Circle Internet Group Trading Up 2.7%

NYSE CRCL traded up $2.22 during trading on Monday, reaching $83.47. The company’s stock had a trading volume of 9,456,727 shares, compared to its average volume of 14,767,264. The stock has a market capitalization of $21.19 billion, a PE ratio of 57.17 and a beta of 0.73. Circle Internet Group, Inc. has a 1-year low of $49.90 and a 1-year high of $159.47. The business has a 50-day moving average price of $82.24 and a 200-day moving average price of $88.71.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.08). The business had revenue of $701.32 million for the quarter. Circle Internet Group had a return on equity of 13.58% and a net margin of 15.53%.The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the business posted ($4.48) EPS. As a group, analysts expect that Circle Internet Group, Inc. will post 1.08 earnings per share for the current year.

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. IDG Accel China Capital II Associates L.P. acquired a new position in Circle Internet Group during the fourth quarter valued at approximately $554,792,000. Southpoint Capital Advisors LP increased its holdings 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 acquiring an additional 2,100,000 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Circle Internet Group by 13.3% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,917,764 shares of the company’s stock worth $278,384,000 after purchasing an additional 342,080 shares during the period. Amova Asset Management Americas Inc. raised its position in shares of Circle Internet Group by 13.4% during the first quarter. Amova Asset Management Americas Inc. now owns 2,914,947 shares of the company’s stock worth $278,173,000 after purchasing an additional 344,539 shares during the period. Finally, SBI Holdings USA Inc. bought a new position in shares of Circle Internet Group during the 2nd quarter valued at about $101,084,820.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CRCL shares. Compass Point set a $62.00 price objective on Circle Internet Group in a research note on Wednesday, July 15th. Canaccord Genuity Group dropped their price target on shares of Circle Internet Group from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Morgan Stanley dropped their price objective on Circle Internet Group from $38.00 to $37.00 and set an “underweight” rating for the company in a research note on Thursday, August 6th. Wolfe Research lifted their target price on shares of Circle Internet Group from $50.00 to $65.00 and gave the company an “underperform” rating in a research note on Tuesday, August 25th. Finally, Keefe, Bruyette & Woods started coverage on Circle Internet Group in a report on Tuesday, September 8th. They issued a “market perform” rating and a $105.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Circle Internet Group has an average rating of “Hold” and a consensus price target of $97.82.

About Circle Internet Group

Circle Internet Group, Inc is a global financial technology company that develops infrastructure for digital currencies and blockchain-based payments. Its primary product is USD Coin (USDC), a dollar-denominated stablecoin designed to maintain a stable value and support digital transactions, payments and transfers across blockchain networks. Circle also issues EURC, a euro-denominated stablecoin.

The company provides institutional and developer-focused services through Circle Mint, which enables eligible businesses to create, redeem and manage USDC and access related payment and treasury tools.