Circle Internet Group (NYSE:CRCL) CFO Jeremy Fox-Geen Sells 8,120 Shares

Key Points

• Circle CFO Jeremy Fox-Geen sold 8,120 shares at an average price of $87.87, generating $713,504.40. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to vested equity awards, reducing his direct ownership by 2.57% to 308,291 shares.
• Circle shares rose $14.44 to $103.08 during Thursday trading, giving the company a market capitalization of approximately $26.17 billion. The stock has traded between $49.90 and $159.47 over the past year.
• Analysts maintain a consensus “Hold” rating with an average price target of $99.35, while Circle’s latest quarterly revenue increased 6.6% year over year to $701.32 million, despite EPS of $0.18 missing estimates.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) CFO Jeremy Fox-Geen sold 8,120 shares of the firm's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $87.87, for a total value of $713,504.40. Following the sale, the chief financial officer directly owned 308,291 shares of the company's stock, valued at approximately $27,089,530.17. This represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, September 1st, Jeremy Fox-Geen sold 15,000 shares of Circle Internet Group stock. The stock was sold at an average price of $92.20, for a total value of $1,383,000.00.
• On Friday, August 21st, Jeremy Fox-Geen sold 45,000 shares of Circle Internet Group stock. The stock was sold at an average price of $90.00, for a total value 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 value of $635,700.00.
• On Friday, June 5th, Jeremy Fox-Geen sold 8,120 shares of Circle Internet Group stock. The shares were sold at an average price of $88.00, for a total value of $714,560.00.

Circle Internet Group Stock Performance

Shares of NYSE:CRCL traded up $14.44 during midday trading on Thursday, reaching $103.08. The company had a trading volume of 24,582,449 shares, compared to its average volume of 14,892,744. The company has a fifty day simple moving average of $71.12 and a two-hundred day simple moving average of $88.39. The firm has a market cap of $26.17 billion, a price-to-earnings ratio of 70.60 and a beta of 0.56. Circle Internet Group, Inc. has a 1-year low of $49.90 and a 1-year high of $159.47.

Circle Internet Group (NYSE:CRCL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.08). Circle Internet Group had a return on equity of 13.58% and a net margin of 15.53%.The company had revenue of $701.32 million for the quarter. During the same quarter in the previous year, the firm posted ($4.48) EPS. The company's revenue for the quarter was up 6.6% on a year-over-year basis. Analysts expect that Circle Internet Group, Inc. will post 1.05 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CRCL shares. TD Cowen boosted their price target on shares of Circle Internet Group from $82.00 to $87.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. William Blair reiterated an "outperform" rating on shares of Circle Internet Group in a research report on Wednesday, August 5th. KeyCorp initiated coverage on shares of Circle Internet Group in a research report on Tuesday, May 26th. They set a "sector weight" rating on the stock. 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. Finally, Wall Street Zen cut Circle Internet Group from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $99.35.

Institutional Investors Weigh In On Circle Internet Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC boosted its stake in shares of Circle Internet Group by 3,800.0% during the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company's stock valued at $26,000 after buying an additional 190 shares during the period. EverSource Wealth Advisors LLC acquired a new position in shares of Circle Internet Group in the second quarter worth $27,000. Harbour Investments Inc. increased its stake in shares of Circle Internet Group by 170.0% in the fourth quarter. Harbour Investments Inc. now owns 378 shares of the company's stock worth $30,000 after acquiring an additional 238 shares during the last quarter. WPG Advisers LLC purchased a new stake in shares of Circle Internet Group during the first quarter worth $31,000. Finally, First Horizon Corp purchased a new stake in shares of Circle Internet Group during the first quarter worth $35,000.

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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