Circle Internet Group (NYSE:CRCL) President Heath Tarbert Sells 15,000 Shares

Key Points

• Heath Tarbert sold 15,000 CRCL shares on March 13 at an average price of $116.04 for about $1.74 million, leaving him with 584,156 shares (a 2.5% reduction in his stake).
• Pattern of sizable insider selling: Tarbert has sold additional blocks on March 10, March 2, Feb. 26 and Dec. 22, totaling roughly $19.6 million in sales across those transactions.
• Company fundamentals: Circle beat Q4 EPS estimates ($0.43 vs. $0.25) with revenue of $770.23 million, up 76.9% year-over-year, while the stock recently traded near $125.97 and has a one-year range of $49.90–$298.99.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) President Heath Tarbert sold 15,000 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $116.04, for a total transaction of $1,740,600.00. Following the transaction, the president directly owned 584,156 shares in the company, valued at approximately $67,785,462.24. This represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Heath Tarbert also recently made the following trade(s):

• On Tuesday, March 10th, Heath Tarbert sold 43,694 shares of Circle Internet Group stock. The shares were sold at an average price of $117.80, for a total transaction of $5,147,153.20.
• On Monday, March 2nd, Heath Tarbert sold 122,007 shares of Circle Internet Group stock. The shares were sold at an average price of $94.23, for a total transaction of $11,496,719.61.
• On Thursday, February 26th, Heath Tarbert sold 10,753 shares of Circle Internet Group stock. The stock was sold at an average price of $90.14, for a total transaction of $969,275.42.
• On Monday, December 22nd, Heath Tarbert sold 3,048 shares of Circle Internet Group stock. The stock was sold at an average price of $90.02, for a total transaction of $274,380.96.

Circle Internet Group Price Performance

Shares of CRCL traded up $10.59 during trading hours on Monday, hitting $125.97. The 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 1-year low of $49.90 and a 1-year high of $298.99. The firm has a market capitalization of $29.66 billion and a P/E ratio of -67.73. The firm has a 50 day simple moving average of $77.42 and a 200-day simple moving average of $97.71.

Circle Internet Group (NYSE:CRCL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.43 earnings per share 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 quarterly revenue was up 76.9% compared to the same quarter last year.

Institutional Investors Weigh In On Circle Internet Group

A number of institutional investors and hedge funds have recently bought and sold shares of CRCL. Hsbc Holdings PLC lifted its stake in Circle Internet Group by 4,329.6% during the 4th quarter. Hsbc Holdings PLC now owns 168,104 shares of the company's stock valued at $13,433,000 after acquiring an additional 164,309 shares in the last quarter. Sit Investment Associates Inc. boosted its holdings in Circle Internet Group by 93.6% during the 4th quarter. Sit Investment Associates Inc. now owns 9,100 shares of the company's stock worth $722,000 after acquiring an additional 4,400 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Circle Internet Group in the 4th quarter worth $2,159,000. Cambient Family Office LLC purchased a new stake in shares of Circle Internet Group in the fourth quarter valued at about $376,000. Finally, Invesco Ltd. raised its holdings in shares of Circle Internet Group by 7.6% in the fourth quarter. Invesco Ltd. now owns 34,908 shares of the company's stock valued at $2,768,000 after purchasing an additional 2,467 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CRCL shares. The Goldman Sachs Group increased their target price on Circle Internet Group from $79.00 to $88.00 and gave the stock a "neutral" rating in a report on Monday, January 5th. Morgan Stanley began coverage on shares of Circle Internet Group in a research note on Monday, February 2nd. They set an "equal weight" rating and a $66.00 price target for the company. Sanford C. Bernstein set a $190.00 price objective on shares of Circle Internet Group in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Circle Internet Group in a research note on Wednesday, January 21st. Finally, Wells Fargo & Company reduced 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 report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $124.65.

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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