Insider Selling: Circle Internet Group (NYSE:CRCL) Insider Sells 1,829 Shares

Key Points

• Circle insider Hossein Razzaghi sold 1,829 shares for approximately $109,886 at an average price of $60.08. The Rule 10b5-1 sale was intended to cover tax obligations from vested equity awards, leaving him with about 659,310 shares.
• CRCL shares rose 5.2% to $63.51, but remain below their 50-day and 200-day moving averages. The company recently reported $694.1 million in revenue, up 20% year over year, while missing quarterly EPS estimates.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and an average price target of $104.18, despite recent Buy ratings and target increases from several firms.

Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) insider Hossein Razzaghi sold 1,829 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $60.08, for a total value of $109,886.32. Following the completion of the transaction, the insider directly owned 659,310 shares in the company, valued at approximately $39,611,344.80. The trade was a 0.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 Thursday, July 2nd, Hossein Razzaghi sold 1,831 shares of Circle Internet Group stock. The shares were 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 shares were sold at an average price of $78.85, for a total transaction of $2,730,023.55.

Circle Internet Group Trading Up 5.2%

CRCL stock traded up $3.16 during mid-day trading on Tuesday, hitting $63.51. 12,616,656 shares of the company were exchanged, compared to its average volume of 14,865,669. The firm has a fifty day simple moving average of $74.97 and a 200 day simple moving average of $86.47. The company has a market capitalization of $15.79 billion, a PE ratio of -19.85 and a beta of 0.22. Circle Internet Group, Inc. has a twelve month low of $49.90 and a twelve month high of $189.92.

Circle Internet Group (NYSE:CRCL - Get Free Report) last issued its earnings results 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). The company had revenue of $694.13 million during the quarter. Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The company's revenue for the quarter was up 20.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Circle Internet Group, Inc. will post 0.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CRCL has been the subject of several research reports. TD Cowen assumed coverage on Circle Internet Group in a research report on Monday. They issued a "buy" rating and a $82.00 target price for the company. Wells Fargo & Company raised their price objective on Circle Internet Group from $111.00 to $142.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 5th. HC Wainwright upgraded shares of Circle Internet Group from a "neutral" rating to a "buy" rating and boosted their target price for the company from $85.00 to $150.00 in a research note on Monday, May 18th. Robert W. Baird dropped their target price on shares of Circle Internet Group from $138.00 to $100.00 and set an "outperform" rating on the stock in a report on Monday, July 13th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Circle Internet Group in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $104.18.

Hedge Funds Weigh In On Circle Internet Group

A number of institutional investors and hedge funds have recently bought and sold shares of CRCL. Farther Finance Advisors LLC raised its holdings in Circle Internet Group by 12.7% during the second quarter. Farther Finance Advisors LLC now owns 2,221 shares of the company's stock worth $140,000 after purchasing an additional 251 shares in the last quarter. Ballentine Partners LLC raised its stake in shares of Circle Internet Group by 60.2% in the 2nd quarter. Ballentine Partners LLC now owns 100,905 shares of the company's stock worth $6,320,000 after buying an additional 37,912 shares in the last quarter. Prospera Financial Services Inc raised its stake in shares of Circle Internet Group by 9.3% in the 2nd quarter. Prospera Financial Services Inc now owns 8,589 shares of the company's stock worth $538,000 after buying an additional 730 shares in the last quarter. Independent Financial Group LLC acquired a new stake in shares of Circle Internet Group in the second quarter valued at $215,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Circle Internet Group by 5.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 46,436 shares of the company's stock valued at $3,071,000 after buying an additional 2,273 shares in the last quarter.

Key Stories Impacting Circle Internet Group

Here are the key news stories impacting Circle Internet Group this week:

• Positive Sentiment: TD Cowen initiated coverage with a Buy rating and an $82 price target, implying roughly 29% upside from the referenced share price. The call adds a bullish view as Circle pursues long-term stablecoin growth. TD Cowen coverage reference
• Positive Sentiment: Circle secured a New York trust charter, a development that could strengthen its regulatory standing and support broader USDC adoption, institutional relationships and payments expansion. Circle secures New York trust charter
• Positive Sentiment: JPMorgan continues to see substantial long-term upside, reportedly maintaining a view that the stock could potentially double despite reducing earnings estimates. The bank believes investors may be underestimating Circle’s growth opportunity. JPMorgan Circle outlook
• Positive Sentiment: Mizuho upgraded Circle, providing another supportive analyst signal amid the broader debate over the company’s valuation and earnings outlook. Mizuho upgrade
• Neutral Sentiment: Analyst sentiment remains mixed, with Circle carrying an average Hold rating. This suggests bullish forecasts are being offset by concerns about valuation, margins and execution. Analyst average Hold rating
• Negative Sentiment: Second-quarter earnings are the immediate catalyst. Rapid USDC adoption must offset weaker reserve yields, higher costs and pressure on reported profit. JPMorgan also expects shrinking margins, increasing the risk of a disappointing earnings reaction. Circle second-quarter earnings preview
• Negative Sentiment: Morgan Stanley downgraded the stock, highlighting near-term valuation or profitability risks and contributing to recent volatility. Morgan Stanley downgrade

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source