Jeremy Fox-Geen Sells 45,000 Shares of Circle Internet Group (NYSE:CRCL) Stock

Key Points

• Circle CFO Jeremy Fox-Geen sold 45,000 shares at an average of $90 each, generating $4.05 million and reducing his holdings by 12.2% to 323,837 shares. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan.
• Circle shares traded near $87.72, while the company’s latest quarterly earnings of $0.18 per share missed estimates of $0.26. Revenue rose 6.6% year over year to $701.32 million.
• Analyst sentiment is mixed, with the stock carrying a consensus “Hold” rating and an average price target of $98.47; targets range from $45 to $140.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) CFO Jeremy Fox-Geen sold 45,000 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $90.00, for a total transaction of $4,050,000.00. Following the transaction, the chief financial officer owned 323,837 shares in the company, valued at $29,145,330. This represents a 12.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, August 13th, Jeremy Fox-Geen sold 8,476 shares of Circle Internet Group stock. The stock was 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 CRCL stock traded down $0.26 during mid-day trading on Monday, hitting $87.72. 17,348,036 shares of the stock traded hands, compared to its average volume of 14,830,893. Circle Internet Group, Inc. has a twelve month low of $49.90 and a twelve month high of $159.47. The company's 50-day simple moving average is $69.22 and its 200-day simple moving average is $86.47. The firm has a market cap of $22.27 billion, a price-to-earnings ratio of 60.08 and a beta of 0.22.

Circle Internet Group (NYSE:CRCL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.18 earnings per share 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 during the quarter. During the same period last year, the business posted ($4.48) EPS. The firm's revenue for the quarter was up 6.6% on a year-over-year basis. Analysts forecast that Circle Internet Group, Inc. will post 1.04 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on CRCL. The Goldman Sachs Group set a $71.00 price objective on shares of Circle Internet Group in a research report on Thursday, August 6th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $140.00 target price on shares of Circle Internet Group in a report on Wednesday, July 29th. Weiss Ratings upgraded shares of Circle Internet Group from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $101.00 price target on shares of Circle Internet Group in a research report on Tuesday, May 12th. Finally, Mizuho set a $45.00 price target on Circle Internet Group and gave the company a "neutral" rating in a report on Friday, July 31st. 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $98.47.

Institutional Trading of Circle Internet Group

Hedge funds have recently bought and sold shares of the company. Larson Financial Group LLC increased its position in shares of Circle Internet Group by 3,800.0% in the third quarter. Larson Financial Group LLC now owns 195 shares of the company's stock worth $26,000 after acquiring an additional 190 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new position in Circle Internet Group during the 2nd quarter worth approximately $27,000. Harbour Investments Inc. lifted its holdings 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 valued at $30,000 after purchasing an additional 238 shares in the last quarter. WPG Advisers LLC acquired a new stake in shares of Circle Internet Group in the first quarter worth $31,000. Finally, First Horizon Corp purchased a new position in shares of Circle Internet Group during the first quarter valued at $35,000.

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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