Circle Internet Group (NYSE:CRCL) Stock: Insider Tamara Schulz Sells 1,194 Shares

Key Points

• Circle CAO Tamara Schulz sold 1,194 shares for about $87,234, under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards. She retained 92,024 shares.
• Circle reported quarterly EPS of $0.18, missing the $0.26 consensus estimate, while revenue rose 6.6% year over year to $701.32 million.
• Analysts’ consensus rating is Hold, with an average price target of $97.94. Shares traded at $75.33 on Tuesday.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) CAO Tamara Schulz sold 1,194 shares of the company's stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $73.06, for a total value of $87,233.64. Following the transaction, the chief accounting officer owned 92,024 shares of the company's stock, valued at approximately $6,723,273.44. This represents a 1.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.

Circle Internet Group Price Performance

CRCL stock traded up $3.25 during trading on Tuesday, reaching $75.33. The company had a trading volume of 8,591,297 shares, compared to its average volume of 14,278,316. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $140.00. The company has a market cap of $19.13 billion, a P/E ratio of 51.60 and a beta of 0.73. The business has a 50 day moving average of $86.96 and a 200 day moving average of $85.76.

Circle Internet Group (NYSE:CRCL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.08). Circle Internet Group had a net margin of 15.53% and a return on equity of 13.58%. The firm had revenue of $701.32 million for the quarter. During the same period in the prior year, the company earned ($4.48) earnings per share. The company's revenue for the quarter was up 6.6% on a year-over-year basis. Research analysts expect that Circle Internet Group, Inc. will post 1.12 earnings per share for the current year.

Institutional Investors Weigh In On Circle Internet Group

Several institutional investors and hedge funds have recently made changes to their positions in CRCL. Sumitomo Mitsui Trust Group Inc. lifted its position in Circle Internet Group by 24.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,970,939 shares of the company's stock valued at $326,292,000 after acquiring an additional 785,213 shares in the last quarter. Southpoint Capital Advisors LP increased its holdings in shares of Circle Internet Group by 175.0% in the 1st quarter. Southpoint Capital Advisors LP now owns 3,300,000 shares of the company's stock worth $314,853,000 after purchasing an additional 2,100,000 shares in the last quarter. Amova Asset Management Americas Inc. increased its holdings in shares of Circle Internet Group by 13.4% in the 1st quarter. Amova Asset Management Americas Inc. now owns 2,914,947 shares of the company's stock worth $278,173,000 after purchasing an additional 344,539 shares in the last quarter. SBI Holdings USA Inc. bought a new stake in shares of Circle Internet Group in the 2nd quarter worth $101,084,820. Finally, Accel XI Associates L.L.C. purchased a new position in shares of Circle Internet Group in the second quarter worth $56,999,563.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Susquehanna reiterated a "neutral" rating on shares of Circle Internet Group in a research note on Tuesday, September 29th. Raymond James Financial started coverage on Circle Internet Group in a research note on Tuesday, July 21st. They issued a "market perform" rating on the stock. Mizuho set a $43.00 price target on Circle Internet Group in a report on Monday, October 26th. TD Cowen lifted their price target on Circle Internet Group from $87.00 to $92.00 and gave the stock a "buy" rating in a research report on Thursday, September 17th. Finally, William Blair reaffirmed an "outperform" rating on shares of Circle Internet Group in a research report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, Circle Internet Group currently has a consensus rating of "Hold" and an average target price of $97.94.

Circle Internet Group Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.