Circle Internet Group (NYSE:CRCL) Director Rajeev Date Sells 2,546 Shares

Key Points

• Director Rajeev Date sold 2,546 shares of Circle on April 6 under a pre-arranged Rule 10b5-1 plan at an average price of $92.99, generating $236,752.54 and reducing his stake by 1.64% to 152,328 shares.
• Company beat estimates in its latest quarter with EPS of $0.43 versus $0.25 expected and revenue of $770.23 million, up 76.9% year-over-year.
• Market and analyst backdrop: shares trade near $94 with a $23.24 billion market cap, and analysts give a consensus "Hold" rating with an average target of $126.29 amid mixed ratings.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) Director Rajeev Date sold 2,546 shares of the firm's stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $92.99, for a total transaction of $236,752.54. Following the sale, the director directly owned 152,328 shares in the company, valued at $14,164,980.72. The trade was a 1.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Circle Internet Group Stock Up 0.1%

Shares of NYSE CRCL traded up $0.05 during midday trading on Wednesday, reaching $94.17. 10,474,343 shares of the stock were exchanged, compared to its average volume of 15,618,461. The firm has a market cap of $23.24 billion and a price-to-earnings ratio of -50.63. Circle Internet Group, Inc. has a twelve month low of $49.90 and a twelve month high of $298.99. The firm has a 50-day simple moving average of $87.06 and a two-hundred day simple moving average of $95.30.

Circle Internet Group (NYSE:CRCL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.18. The firm had revenue of $770.23 million for the quarter. The business's revenue was up 76.9% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Needham & Company LLC decreased their target price on Circle Internet Group from $190.00 to $130.00 and set a "buy" rating on the stock in a research report on Thursday, February 26th. The Goldman Sachs Group increased their target price on Circle Internet Group from $79.00 to $88.00 and gave the company a "neutral" rating in a research report on Monday, January 5th. Zacks Research upgraded Circle Internet Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, March 17th. Clear Str upgraded Circle Internet Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 16th. Finally, Sanford C. Bernstein set a $190.00 target price on Circle Internet Group in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Circle Internet Group has a consensus rating of "Hold" and an average target price of $126.29.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bartlett & CO. Wealth Management LLC purchased a new position in Circle Internet Group in the 4th quarter valued at $25,000. Larson Financial Group LLC lifted its holdings in Circle Internet Group by 3,800.0% in the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company's stock valued at $26,000 after purchasing an additional 190 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in Circle Internet Group in the 3rd quarter valued at $27,000. EverSource Wealth Advisors LLC purchased a new position in Circle Internet Group in the 2nd quarter valued at $27,000. Finally, Bellevue Asset Management LLC purchased a new position in Circle Internet Group in the 4th quarter valued at $29,000.

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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