Insider Selling: Circle Internet Group (NYSE:CRCL) Director Sells $4,604,500.00 in Stock

Key Points

• Director Patrick Neville sold 50,000 Circle Internet Group shares at an average price of $92.09, generating $4.60 million. The Rule 10b5-1 transaction reduced his position by 96.12%, leaving him with 2,018 shares.
• Circle shares recently traded at $103.08, giving the company a market capitalization of approximately $26.17 billion. The stock has ranged from $49.90 to $159.47 over the past year.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $99.35. Circle’s latest quarterly results included $701.32 million in revenue, up 6.6% year over year, but earnings of $0.18 per share missed estimates.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) Director Patrick Neville sold 50,000 shares of the company's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $92.09, for a total transaction of $4,604,500.00. Following the completion of the transaction, the director owned 2,018 shares of the company's stock, valued at approximately $185,837.62. The trade was a 96.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Patrick Sean Neville also recently made the following trade(s):

• On Monday, August 3rd, Patrick Neville sold 50,000 shares of Circle Internet Group stock. The stock was sold at an average price of $59.55, for a total transaction of $2,977,500.00.
• On Wednesday, July 1st, Patrick Neville sold 50,000 shares of Circle Internet Group stock. The stock was sold at an average price of $62.65, for a total transaction of $3,132,500.00.
• On Tuesday, June 9th, Patrick Neville sold 50,000 shares of Circle Internet Group stock. The shares were sold at an average price of $81.30, for a total value of $4,065,000.00.
• On Monday, June 8th, Patrick Neville sold 1,034,396 shares of Circle Internet Group stock. The stock was sold at an average price of $82.87, for a total transaction of $85,720,396.52.

Circle Internet Group Stock Performance

CRCL traded up $14.44 during trading on Thursday, reaching $103.08. The company's stock had a trading volume of 24,582,449 shares, compared to its average volume of 14,892,744. The company's fifty day moving average price is $71.12 and its 200-day moving average price is $88.39. Circle Internet Group, Inc. has a 52-week low of $49.90 and a 52-week high of $159.47. The company has a market capitalization of $26.17 billion, a price-to-earnings ratio of 70.60 and a beta of 0.56.

Circle Internet Group (NYSE:CRCL - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $701.32 million during the quarter. During the same period in the prior year, the company earned ($4.48) earnings per share. Circle Internet Group's revenue for the quarter was up 6.6% on a year-over-year basis. Equities analysts predict that Circle Internet Group, Inc. will post 1.05 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on CRCL. Mizuho set a $45.00 price target on shares of Circle Internet Group and gave the company a "neutral" rating in a research report on Friday, July 31st. Raymond James Financial began coverage on shares of Circle Internet Group in a report on Tuesday, July 21st. They issued a "market perform" rating on the stock. Wall Street Zen downgraded Circle Internet Group from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 1st. Wolfe Research lifted their price objective on Circle Internet Group from $50.00 to $65.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 25th. Finally, TD Cowen upped their target price 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. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $99.35.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. General Catalyst Group Management LLC purchased a new stake in shares of Circle Internet Group during the 2nd quarter worth about $3,647,694,000. California State Teachers Retirement System lifted its position in Circle Internet Group by 222,662.5% during 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 in the last quarter. IDG Accel China Capital II Associates L.P. purchased a new stake in Circle Internet Group during the fourth quarter worth approximately $554,792,000. Accel XI Associates L.L.C. acquired a new stake in shares of Circle Internet Group in the fourth quarter worth $513,844,000. Finally, Southpoint Capital Advisors LP raised its stake 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 valued at $314,853,000 after acquiring an additional 2,100,000 shares during the period.

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 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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