Circle Internet Group (NYSE:CRCL) Director Rajeev Date Sells 1,273 Shares

Key Points

• Circle director Rajeev Date sold 1,273 shares on April 7 at an average price of $95 (total $120,935), reducing his holding to 152,328 shares (a 0.83% decrease); the sale was executed under a pre-arranged Rule 10b5-1 trading plan.
• In its latest quarter (reported Feb. 25) Circle beat EPS estimates with $0.43 vs. $0.25 and reported revenue of $770.23 million, a 76.9% year-over-year increase.
• CRCL traded around $94.17 (up $0.05 midday) with a 52-week range of $49.90–$298.99, market cap ≈ $23.24 billion and a negative P/E (~-50.6); analysts' consensus is a Hold with an average price target of $126.29.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) Director Rajeev Date sold 1,273 shares of the firm's stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $95.00, for a total transaction of $120,935.00. Following the completion of the transaction, the director directly owned 152,328 shares of the company's stock, valued at $14,471,160. This represents a 0.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Circle Internet Group Stock Up 0.1%

CRCL stock traded up $0.05 during midday trading on Wednesday, hitting $94.17. The company's stock had a trading volume of 10,474,343 shares, compared to its average volume of 15,618,461. Circle Internet Group, Inc. has a 52-week low of $49.90 and a 52-week high of $298.99. The firm has a market capitalization of $23.24 billion and a P/E ratio of -50.63. The firm has a 50-day simple moving average of $87.06 and a 200-day simple moving average of $95.30.

Circle Internet Group (NYSE:CRCL - Get Free Report) last issued 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. Circle Internet Group's revenue was up 76.9% on a year-over-year basis.

Institutional Investors Weigh In On Circle Internet Group

Several institutional investors have recently modified their holdings of the company. Rakuten Securities Inc. acquired a new stake in Circle Internet Group during the 3rd quarter worth $2,491,000. CloudAlpha Capital Management Limited Hong Kong raised its stake in Circle Internet Group by 181.1% during the 3rd quarter. CloudAlpha Capital Management Limited Hong Kong now owns 283,964 shares of the company's stock worth $37,648,000 after acquiring an additional 182,954 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in Circle Internet Group during the 3rd quarter worth $3,248,000. Rheos Capital Works Inc. raised its stake in Circle Internet Group by 20.8% during the 3rd quarter. Rheos Capital Works Inc. now owns 302,000 shares of the company's stock worth $40,039,000 after acquiring an additional 52,000 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Circle Internet Group by 61.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company's stock worth $739,624,000 after acquiring an additional 2,126,072 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CRCL shares. Wells Fargo & Company decreased their price objective on shares of Circle Internet Group from $128.00 to $111.00 and set an "overweight" rating for the company in a research report on Thursday, February 26th. Morgan Stanley started coverage on shares of Circle Internet Group in a research report on Monday, February 2nd. They set an "equal weight" rating and a $66.00 price objective for the company. Robert W. Baird lifted their price objective on shares of Circle Internet Group from $110.00 to $138.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 17th. The Goldman Sachs Group lifted their price objective on shares of Circle Internet Group from $79.00 to $88.00 and gave the stock a "neutral" rating in a research report on Monday, January 5th. Finally, HC Wainwright started coverage on shares of Circle Internet Group in a research report on Friday, December 19th. They set a "neutral" rating and a $85.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $126.29.

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 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.

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