Circle Internet Group (NYSE:CRCL) President Heath Tarbert Sells 43,694 Shares

Key Points

• Circle President Heath Tarbert sold 43,694 shares on March 10 at an average price of $117.80 for $5,147,153.20, reducing his stake by 6.8% to 599,156 shares (≈$70.6M).
• Across five transactions since December he sold 180,802 shares, totaling about $18.0 million, including a 122,007-share sale on March 2 for roughly $11.5M.
• Circle shares recently traded at $112.58 on heavy volume; analysts have a consensus Hold rating with an average price target of $123.47, while the company reported EPS of $0.43 and revenue up 76.9% year-over-year.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) President Heath Tarbert sold 43,694 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $117.80, for a total transaction of $5,147,153.20. Following the completion of the sale, the president owned 599,156 shares in the company, valued at approximately $70,580,576.80. This trade represents a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• 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 shares were 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 value of $274,380.96.
• On Friday, December 12th, Heath Tarbert sold 1,300 shares of Circle Internet Group stock. The stock was sold at an average price of $90.10, for a total value of $117,130.00.

Circle Internet Group Stock Performance

NYSE:CRCL traded down $5.51 on Wednesday, reaching $112.58. The company's stock had a trading volume of 19,195,680 shares, compared to its average volume of 14,905,321. 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 cap of $26.51 billion and a PE ratio of -60.53. The business's 50-day moving average price is $75.42 and its two-hundred day moving average price is $97.99.

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

Wall Street Analysts Forecast Growth

CRCL has been the topic of several research analyst reports. Needham & Company LLC dropped their target price on shares of Circle Internet Group from $190.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, February 26th. Wall Street Zen upgraded shares of Circle Internet Group from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. Zacks Research lowered shares of Circle Internet Group from a "hold" rating to a "strong sell" rating in a report on Monday, February 16th. Morgan Stanley began coverage on shares of Circle Internet Group in a research report on Monday, February 2nd. They issued an "equal weight" rating and a $66.00 price objective on the stock. Finally, Mizuho upped their target price on shares of Circle Internet Group from $90.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Circle Internet Group has a consensus rating of "Hold" and an average price target of $123.47.

Hedge Funds Weigh In On Circle Internet Group

Several hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC bought a new position in shares of Circle Internet Group in the 2nd quarter valued at about $27,000. PNC Financial Services Group Inc. lifted its stake in Circle Internet Group by 14.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,164 shares of the company's stock valued at $154,000 after purchasing an additional 151 shares during the last quarter. Larson Financial Group LLC lifted its stake 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 during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in Circle Internet Group during the third quarter worth about $27,000. Finally, Allworth Financial LP bought a new position in Circle Internet Group during the second quarter worth about $37,000.

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 USD Coin (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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