Circle Internet Group (NYSE:CRCL) Director Sells $431,547.00 in Stock

Key Points

• Director Rajeev Date sold 3,819 shares on March 12 at an average price of $113 for a total of $431,547, leaving him with 152,328 shares (a 2.45% reduction in his stake, valued at about $17.21M).
• Quarterly results topped expectations — EPS of $0.43 vs. $0.25 consensus and revenue of $770.23M, up 76.9% year-over-year.
• The stock traded at $125.97 mid-day with a market cap of about $29.66B; analysts have a consensus rating of "Hold" and an average price target of $124.65.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) Director Rajeev Date sold 3,819 shares of the business's stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $113.00, for a total value of $431,547.00. Following the completion of the transaction, the director owned 152,328 shares in the company, valued at $17,213,064. The trade was a 2.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Circle Internet Group Price Performance

Shares of NYSE CRCL traded up $10.59 during mid-day trading on Monday, reaching $125.97. The company's stock had a trading volume of 18,496,315 shares, compared to its average volume of 14,858,777. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $298.99. The stock has a fifty day moving average of $77.42 and a two-hundred day moving average of $97.71. The firm has a market capitalization of $29.66 billion and a PE ratio of -67.73.

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

Analysts Set New Price Targets

Several research firms have recently commented on CRCL. William Blair reissued an "outperform" rating on shares of Circle Internet Group in a report on Wednesday, February 25th. Wall Street Zen upgraded shares of Circle Internet Group from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. Morgan Stanley began coverage on shares of Circle Internet Group in a research note on Monday, February 2nd. They issued an "equal weight" rating and a $66.00 price target on the stock. Wolfe Research started coverage on shares of Circle Internet Group in a report on Tuesday, December 2nd. They set an "underperform" rating and a $60.00 price objective for the company. Finally, Mizuho raised their price objective on Circle Internet Group from $100.00 to $120.00 and gave the company a "neutral" rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $124.65.

Institutional Investors Weigh In On Circle Internet Group

Several large investors have recently bought and sold shares of CRCL. General Catalyst Group Management LLC purchased a new stake in Circle Internet Group during the second quarter valued at $3,647,694,000. Marshall Wace LLP grew its stake in shares of Circle Internet Group by 23.8% in the 4th quarter. Marshall Wace LLP now owns 9,978,729 shares of the company's stock worth $791,313,000 after buying an additional 1,919,205 shares in the last quarter. IDG Accel China Capital II Associates L.P. bought a new stake in shares of Circle Internet Group in the 4th quarter worth about $554,792,000. Accel XI Associates L.L.C. bought a new stake in shares of Circle Internet Group in the 4th quarter worth about $513,844,000. Finally, Vanguard Group Inc. raised its position in shares of Circle Internet Group by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 5,653,110 shares of the company's stock valued at $448,292,000 after buying an additional 74,414 shares in the last quarter.

About Circle Internet Group

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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