Circle Internet Group (NYSE:CRCL) CFO Jeremy Fox-Geen Sells 15,000 Shares of Company Stock

Key Points

• CFO Jeremy Fox-Geen sold 15,000 Circle Internet Group shares at an average price of $90, generating $1.35 million. The transaction was made under a pre-arranged Rule 10b5-1 trading plan and reduced his holdings by 4.72% to 302,930 shares.
• CRCL shares recently traded at $85.88, down 0.9%, with a market capitalization of approximately $21.8 billion. The stock has ranged from $49.90 to $147.44 over the past year.
• Circle’s latest quarterly earnings missed analyst expectations, reporting $0.18 in EPS versus a $0.26 consensus estimate, although revenue rose 6.6% year over year to $701.32 million. Analysts’ consensus rating is Hold, with an average price target of $98.24.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) CFO Jeremy Fox-Geen sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $90.00, for a total transaction of $1,350,000.00. Following the sale, the chief financial officer owned 302,930 shares of the company's stock, valued at $27,263,700. This represents a 4.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jeremy Fox-Geen also recently made the following trade(s):

• On Friday, October 2nd, Jeremy Fox-Geen sold 4,238 shares of Circle Internet Group stock. The stock was sold at an average price of $85.78, for a total value of $363,535.64.
• On Wednesday, September 2nd, Jeremy Fox-Geen sold 8,120 shares of Circle Internet Group stock. The stock was sold at an average price of $87.87, for a total value of $713,504.40.
• On Tuesday, September 1st, Jeremy Fox-Geen sold 15,000 shares of Circle Internet Group stock. The shares were sold at an average price of $92.20, for a total transaction of $1,383,000.00.
• On Friday, August 21st, Jeremy Fox-Geen sold 45,000 shares of Circle Internet Group stock. The shares were sold at an average price of $90.00, for a total transaction of $4,050,000.00.
• On Thursday, August 13th, Jeremy Fox-Geen sold 8,476 shares of Circle Internet Group stock. The shares were sold at an average price of $75.00, for a total transaction of $635,700.00.

Circle Internet Group Trading Down 0.9%

NYSE CRCL traded down $0.74 during trading hours on Friday, reaching $85.88. The company had a trading volume of 8,602,136 shares, compared to its average volume of 14,442,650. The stock has a market capitalization of $21.80 billion, a P/E ratio of 58.82 and a beta of 0.73. The stock has a 50-day moving average of $87.31 and a 200 day moving average of $86.43. Circle Internet Group, Inc. has a 1-year low of $49.90 and a 1-year high of $147.44.

Circle Internet Group (NYSE:CRCL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.08). The company had revenue of $701.32 million for the quarter. Circle Internet Group had a net margin of 15.53% and a return on equity of 13.58%. Circle Internet Group's revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the company posted ($4.48) EPS. As a group, sell-side analysts predict that Circle Internet Group, Inc. will post 1.10 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CRCL. WPG Advisers LLC purchased a new stake in Circle Internet Group during the 1st quarter worth about $31,000. First Horizon Corp acquired a new stake in Circle Internet Group in the 1st quarter valued at about $35,000. Abound Financial LLC purchased a new position in shares of Circle Internet Group in the 1st quarter valued at about $38,000. Global Assets Advisory LLC purchased a new position in shares of Circle Internet Group in the 1st quarter valued at about $43,000. Finally, Western Wealth Management LLC purchased a new position in shares of Circle Internet Group in the 1st quarter valued at about $57,000.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CRCL. Mizuho set a $45.00 target price on Circle Internet Group and gave the company a "neutral" rating in a report on Friday, July 31st. Keefe, Bruyette & Woods initiated coverage on shares of Circle Internet Group in a research note on Tuesday, September 8th. They set a "market perform" rating and a $105.00 price target on the stock. The Goldman Sachs Group reiterated an "underperform" rating on shares of Circle Internet Group in a research note on Wednesday, September 9th. Needham & Company LLC increased their price target on shares of Circle Internet Group from $130.00 to $134.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Robert W. Baird lowered their price objective on shares of Circle Internet Group from $138.00 to $100.00 and set an "outperform" rating for the company in a research note on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $98.24.

About Circle Internet Group

Circle Internet Group, Inc is a global financial technology company focused on digital currencies and blockchain-based payments. The company is best known for issuing USD Coin (USDC), a dollar-backed stablecoin designed to maintain a value of one U.S. dollar and support digital transactions, payments, trading and other financial applications. Circle also issues EURC, a euro-backed stablecoin.

Circle provides infrastructure and services for businesses, financial institutions and developers through products such as Circle Mint, which supports the creation, redemption and transfer of its stablecoins, as well as APIs and developer tools for integrating digital-asset payments and blockchain functionality.

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