Insider Selling: Circle Internet Group (NYSE:CRCL) Director Sells 50,000 Shares of Stock

Key Points

• Circle Internet Group director Patrick Sean Neville sold 50,000 shares on June 9 at an average price of $81.30, generating about $4.07 million. The sale cut his direct ownership to 2,018 shares, a 96.12% decrease, and was made under a pre-arranged Rule 10b5-1 plan.
• Neville has been a frequent seller recently, including a much larger June 8 transaction of 1.03 million shares worth about $85.7 million, plus additional sales in April and May. This suggests a notable pattern of insider selling at Circle.
• CRCL shares rose 5.0% to $82.88 despite the insider sale, while the company reported quarterly EPS of $0.21, missing estimates, on revenue of $694.13 million. Analysts currently have an average rating of Hold with a consensus price target of $134.18.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) Director Patrick Sean Neville sold 50,000 shares of the firm's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $81.30, for a total value of $4,065,000.00. Following the completion of the transaction, the director directly owned 2,018 shares of the company's stock, valued at $164,063.40. The trade was a 96.12% decrease in their ownership of the stock. 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.

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

• On Monday, June 8th, Patrick Sean 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 value of $85,720,396.52.
• On Friday, May 1st, Patrick Sean Neville sold 5,000 shares of Circle Internet Group stock. The stock was sold at an average price of $92.64, for a total value of $463,200.00.
• On Friday, May 1st, Patrick Sean Neville sold 30,000 shares of Circle Internet Group stock. The stock was sold at an average price of $92.65, for a total value of $2,779,500.00.
• On Wednesday, April 1st, Patrick Sean Neville sold 5,000 shares of Circle Internet Group stock. The stock was sold at an average price of $98.04, for a total value of $490,200.00.
• On Wednesday, April 1st, Patrick Sean Neville sold 30,000 shares of Circle Internet Group stock. The stock was sold at an average price of $98.04, for a total value of $2,941,200.00.

Circle Internet Group Stock Up 5.0%

Shares of CRCL stock traded up $3.95 on Thursday, reaching $82.88. The company's stock had a trading volume of 8,756,234 shares, compared to its average volume of 15,358,425. Circle Internet Group, Inc. has a 12-month low of $49.90 and a 12-month high of $298.99. The company has a market capitalization of $20.60 billion and a P/E ratio of -25.90. The stock's 50 day simple moving average is $102.42 and its 200-day simple moving average is $89.85.

Circle Internet Group (NYSE:CRCL - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.27 by ($0.06). Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.The business had revenue of $694.13 million during the quarter. The company's quarterly revenue was up 20.0% on a year-over-year basis. Research analysts expect that Circle Internet Group, Inc. will post 1.02 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CRCL shares. Needham & Company LLC raised their price target on Circle Internet Group from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Tuesday, May 12th. Wells Fargo & Company raised their price target on Circle Internet Group from $111.00 to $142.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. Zacks Research upgraded Circle Internet Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, March 17th. KeyCorp started coverage on Circle Internet Group in a research report on Tuesday, May 26th. They set a "sector weight" rating on the stock. Finally, Clear Str upgraded Circle Internet Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $134.18.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bartlett & CO. Wealth Management LLC purchased a new position in shares of Circle Internet Group in the fourth quarter worth about $25,000. Larson Financial Group LLC increased its holdings 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 buying an additional 190 shares during the period. EverSource Wealth Advisors LLC purchased a new position in shares of Circle Internet Group in the second quarter worth about $27,000. Bellevue Asset Management LLC purchased a new position in shares of Circle Internet Group in the fourth quarter worth about $29,000. Finally, Harbour Investments Inc. increased 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 worth $30,000 after buying an additional 238 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.

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.