Hossein Razzaghi Sells 7,458 Shares of Circle Internet Group (NYSE:CRCL) Stock

Key Points

• Insider sale: Hossein Razzaghi sold 7,458 Circle Internet Group shares for approximately $655,334 under a pre-arranged Rule 10b5-1 plan to cover tax withholding from vested equity awards. He retained 644,865 shares valued at about $56.7 million.
• Stock performance: CRCL rose 16.3% to $103.08, with trading volume above its average. The stock has a market capitalization of approximately $26.2 billion and remains below its 52-week high of $159.47.
• Mixed outlook: Circle missed quarterly EPS expectations, reporting $0.18 versus the $0.26 consensus, though revenue increased 6.6% year over year to $701.3 million. Analysts collectively rate the stock “Hold,” with an average price target of $99.35.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) insider Hossein Razzaghi sold 7,458 shares of the business's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $87.87, for a total transaction of $655,334.46. Following the transaction, the insider directly owned 644,865 shares in the company, valued at $56,664,287.55. This trade represents a 1.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through 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.

Hossein Razzaghi also recently made the following trade(s):

• On Tuesday, August 4th, Hossein Razzaghi sold 1,829 shares of Circle Internet Group stock. The shares were sold at an average price of $60.08, for a total transaction of $109,886.32.
• On Thursday, July 2nd, Hossein Razzaghi sold 1,831 shares of Circle Internet Group stock. The stock was sold at an average price of $64.40, for a total transaction of $117,916.40.
• On Wednesday, June 10th, Hossein Razzaghi sold 34,623 shares of Circle Internet Group stock. The stock was sold at an average price of $78.85, for a total transaction of $2,730,023.55.

Circle Internet Group Trading Up 16.3%

CRCL traded up $14.44 on Thursday, hitting $103.08. 24,582,449 shares of the stock traded hands, compared to its average volume of 14,892,744. The business has a fifty day moving average price of $71.12 and a two-hundred day moving average price of $88.39. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $159.47. The firm has a market capitalization of $26.17 billion, a PE ratio of 70.60 and a beta of 0.56.

Circle Internet Group (NYSE:CRCL - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.08). The firm 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%. The company's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($4.48) EPS. On average, equities research analysts forecast that Circle Internet Group, Inc. will post 1.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CRCL has been the subject of a number of analyst reports. Raymond James Financial began coverage on shares of Circle Internet Group in a report on Tuesday, July 21st. They set a "market perform" rating for the company. Compass Point set a $62.00 price target on shares of Circle Internet Group in a research report on Wednesday, July 15th. The Goldman Sachs Group restated a "neutral" rating and set a $81.00 price target on shares of Circle Internet Group in a research note on Tuesday, August 25th. Weiss Ratings raised Circle Internet Group from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, August 6th. Finally, Morgan Stanley cut their price objective on Circle Internet Group from $38.00 to $37.00 and set an "underweight" rating for the company in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Circle Internet Group presently has an average rating of "Hold" and an average target price of $99.35.

Hedge Funds Weigh In On Circle Internet Group

Institutional investors have recently bought and sold shares of the business. Corient Private Wealth LP grew its holdings in shares of Circle Internet Group by 20.7% during the second quarter. Corient Private Wealth LP now owns 7,688 shares of the company's stock worth $482,000 after purchasing an additional 1,318 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Circle Internet Group in the second quarter valued at $2,409,000. California State Teachers Retirement System raised its holdings in shares of Circle Internet Group by 222,662.5% in the second quarter. California State Teachers Retirement System now owns 13,871,418 shares of the company's stock valued at $868,767,000 after buying an additional 13,865,191 shares during the last quarter. Raiffeisen Bank International AG raised its holdings in shares of Circle Internet Group by 0.7% in the second quarter. Raiffeisen Bank International AG now owns 30,200 shares of the company's stock valued at $1,891,000 after buying an additional 200 shares during the last quarter. Finally, Concurrent Investment Advisors LLC lifted its position in Circle Internet Group by 18.3% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 20,289 shares of the company's stock worth $1,271,000 after buying an additional 3,140 shares in the last quarter.

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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