Circle Internet Group, Inc.'s Lock-Up Period Will End on December 2nd (NYSE:CRCL)

Key Points

• Circle's lock-up period expires on December 2, allowing insiders and major shareholders to begin selling shares from the June 5 IPO (34,000,000 shares; $1.054 billion offering).
• The company reported a strong quarter on November 12, beating EPS expectations with $0.64 vs. $0.20 and revenue of $739.76 million, up 65.9% year-over-year.
• Insiders sold 404,208 shares worth about $34.9 million over the last quarter (including the CFO and a director), while analysts are mixed with an average rating of "Hold" and a $150.33 target price.

Circle Internet Group's (NYSE:CRCL - Get Free Report) lock-up period is set to expire on Tuesday, December 2nd. Circle Internet Group had issued 34,000,000 shares in its IPO on June 5th. The total size of the offering was $1,054,000,000 based on an initial share price of $31.00. After the expiration of the company's lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analysts Set New Price Targets

Several brokerages have issued reports on CRCL. Rothschild & Co Redburn initiated coverage on shares of Circle Internet Group in a research note on Friday, October 3rd. They issued a "neutral" rating and a $136.00 price objective for the company. Rothschild Redb upgraded Circle Internet Group to a "hold" rating in a report on Friday, October 3rd. Weiss Ratings reissued a "sell (d)" rating on shares of Circle Internet Group in a research note on Wednesday, October 8th. Citizens Jmp began coverage on Circle Internet Group in a report on Tuesday, September 30th. They set a "market perform" rating for the company. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $247.00 target price on shares of Circle Internet Group in a research note on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Circle Internet Group has an average rating of "Hold" and an average target price of $150.33.

Circle Internet Group Price Performance

Shares of NYSE CRCL opened at $72.58 on Tuesday. The firm's fifty day moving average price is $120.73. Circle Internet Group has a twelve month low of $64.00 and a twelve month high of $298.99.

Circle Internet Group (NYSE:CRCL - Get Free Report) last posted its quarterly earnings results on Wednesday, November 12th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.44. The firm had revenue of $739.76 million for the quarter. The business's quarterly revenue was up 65.9% on a year-over-year basis.

Insider Buying and Selling at Circle Internet Group

In related news, Director Danita K. Ostling sold 2,662 shares of the business's stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $84.69, for a total value of $225,444.78. Following the completion of the transaction, the director owned 26,290 shares of the company's stock, valued at $2,226,500.10. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jeremy Fox-Geen sold 33,608 shares of the company's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $121.45, for a total value of $4,081,691.60. Following the sale, the chief financial officer owned 297,823 shares of the company's stock, valued at approximately $36,170,603.35. This represents a 10.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 404,208 shares of company stock worth $34,921,251.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Larson Financial Group LLC lifted its stake in shares of Circle Internet Group by 3,800.0% during the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company's stock worth $26,000 after purchasing an additional 190 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Circle Internet Group during the third quarter valued at about $27,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Circle Internet Group during the second quarter valued at about $27,000. Highline Wealth Partners LLC bought a new stake in shares of Circle Internet Group in the 3rd quarter valued at about $32,000. Finally, Montag A & Associates Inc. purchased a new position in shares of Circle Internet Group in the 3rd quarter worth approximately $33,000.

About Circle Internet Group

Founded in 2013, Circle's mission is to raise global economic prosperity through the frictionless exchange of value. We intend to connect the world more deeply by building a new global economic system on the foundation of the internet, and to facilitate the creation of a world where everyone, everywhere can share value as easily as we can today share information, content, and communications.

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