Insider Selling: Circle Internet Group (NYSE:CRCL) CFO Sells 4,238 Shares of Stock

Key Points

• Jeremy Fox-Geen, Circle's CFO, sold 4,238 shares on April 2 at an average price of $90.00 under a pre-arranged Rule 10b5-1 plan, generating $381,420 and trimming his stake to 363,726 shares (worth about $32.7M).
• The April 2 sale follows earlier staged dispositions by Fox-Geen — 7,200 shares on April 1 at ~$98.04 and 47,908 shares on Feb 26 at $90 — indicating ongoing insider selling activity.
• Circle recently beat expectations (quarterly EPS $0.43 vs. $0.25 est.) with revenue of $770.23M (+76.9% YoY); the stock trades near $90, has a market cap of ~$22.2B, and a MarketBeat consensus rating of Hold with a $126.29 target.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) CFO Jeremy Fox-Geen sold 4,238 shares of the company's stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $90.00, for a total transaction of $381,420.00. Following the completion of the transaction, the chief financial officer directly owned 363,726 shares of the company's stock, valued at $32,735,340. This represents a 1.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, April 1st, Jeremy Fox-Geen sold 7,200 shares of Circle Internet Group stock. The shares were sold at an average price of $98.04, for a total value of $705,888.00.
• On Thursday, February 26th, Jeremy Fox-Geen sold 47,908 shares of Circle Internet Group stock. The shares were sold at an average price of $90.00, for a total value of $4,311,720.00.

Circle Internet Group Price Performance

Shares of NYSE CRCL traded down $0.19 during mid-day trading on Friday, reaching $90.07. The company's stock had a trading volume of 12,626,518 shares, compared to its average volume of 19,827,344. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $298.99. The stock has a fifty day moving average of $85.77 and a two-hundred day moving average of $96.81. The firm has a market capitalization of $22.23 billion and a PE ratio of -48.42.

Circle Internet Group (NYSE:CRCL - Get Free Report) last issued its earnings results on Wednesday, February 25th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.18. The business had revenue of $770.23 million for the quarter. The business's quarterly revenue was up 76.9% on a year-over-year basis.

Hedge Funds Weigh In On Circle Internet Group

Several institutional investors have recently bought and sold shares of the business. General Catalyst Group Management LLC purchased a new position in shares of Circle Internet Group in the 2nd quarter worth $3,647,694,000. Marshall Wace LLP raised its position in shares of Circle Internet Group by 23.8% during the 4th quarter. Marshall Wace LLP now owns 9,978,729 shares of the company's stock valued at $791,313,000 after buying an additional 1,919,205 shares in the last quarter. IDG Accel China Capital II Associates L.P. bought a new position in shares of Circle Internet Group in the 4th quarter valued at about $554,792,000. Accel XI Associates L.L.C. bought a new position in shares of Circle Internet Group in the 4th quarter valued at about $513,844,000. Finally, Vanguard Group Inc. grew its position in Circle Internet Group by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 5,653,110 shares of the company's stock worth $448,292,000 after acquiring an additional 74,414 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CRCL shares. Robert W. Baird boosted their target price on shares of Circle Internet Group from $110.00 to $138.00 and gave the stock an "outperform" rating in a report on Tuesday, March 17th. Sanford C. Bernstein set a $190.00 price target on shares of Circle Internet Group in a research note on Tuesday, January 6th. Zacks Research raised shares of Circle Internet Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, March 17th. Morgan Stanley began coverage on Circle Internet Group in a research report on Monday, February 2nd. They set an "equal weight" rating and a $66.00 price objective for the company. Finally, Wells Fargo & Company reduced their target price on Circle Internet Group from $128.00 to $111.00 and set an "overweight" rating on the stock in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Circle Internet Group presently has a consensus rating of "Hold" and a consensus target price of $126.29.

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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