Circle Internet Group (NYSE:CRCL) Director Rajeev Date Sells 36,400 Shares

Key Points

• Rajeev Date sold 36,400 CRCL shares on Nov. 17 at an average price of $75.62 for proceeds of $2.75M, cutting his stake by 18.76% to 157,663 shares (about $11.92M).
• Shares fell ~9.1% to $69.65 on heavy volume (28.47M vs. average 18.91M), trading close to a 52‑week low of $64 and well below the 50‑day moving average of $125.25.
• Circle posted a strong quarterly beat, reporting EPS of $0.64 vs. $0.20 expected and revenue of $739.8M, up 65.9% year‑over‑year.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) Director Rajeev Date sold 36,400 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $75.62, for a total transaction of $2,752,568.00. Following the completion of the transaction, the director directly owned 157,663 shares of the company's stock, valued at $11,922,476.06. The trade was a 18.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Circle Internet Group Trading Down 9.1%

NYSE:CRCL traded down $6.95 during trading hours on Wednesday, hitting $69.65. 28,473,505 shares of the company were exchanged, compared to its average volume of 18,911,037. Circle Internet Group, Inc. has a 52-week low of $64.00 and a 52-week high of $298.99. The company's 50 day moving average is $125.25.

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 company had revenue of $739.76 million during the quarter. Circle Internet Group's revenue was up 65.9% on a year-over-year basis.

Institutional Investors Weigh In On Circle Internet Group

Hedge funds have recently added to or reduced their stakes in the business. ARK Investment Management LLC acquired a new stake in shares of Circle Internet Group during the 2nd quarter worth about $530,165,000. Huntleigh Advisors Inc. acquired a new stake in Circle Internet Group during the second quarter worth approximately $470,000. Covenant Asset Management LLC acquired a new position in Circle Internet Group in the 2nd quarter valued at $363,000. Yong Rong HK Asset Management Ltd purchased a new position in shares of Circle Internet Group during the 2nd quarter worth $19,942,000. Finally, Acorn Financial Advisory Services Inc. ADV acquired a new stake in shares of Circle Internet Group during the second quarter worth $703,000.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CRCL shares. Canaccord Genuity Group reiterated a "buy" rating and issued a $247.00 price objective on shares of Circle Internet Group in a research note on Thursday, September 11th. JMP Securities started coverage on Circle Internet Group in a research report on Tuesday, September 30th. They set a "market perform" rating on the stock. Rothschild & Co Redburn initiated coverage on shares of Circle Internet Group in a report on Friday, October 3rd. They set a "neutral" rating and a $136.00 price objective on the stock. The Goldman Sachs Group assumed coverage on shares of Circle Internet Group in a research report on Tuesday, August 12th. They set a "neutral" rating and a $83.00 price target for the company. Finally, Mizuho lowered their price target on Circle Internet Group from $84.00 to $70.00 and set an "underperform" rating on the stock in a research note on Friday, November 14th. 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 given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $150.53.

Circle Internet Group Company Profile

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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