Heath Tarbert Sells 39,240 Shares of Circle Internet Group (NYSE:CRCL) Stock

Circle Internet Group, Inc. (NYSE:CRCL) President Heath Tarbert sold 39,240 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $81.47, for a total transaction of $3,196,882.80. Following the sale, the president owned 502,558 shares in the company, valued at approximately $40,943,400.26. This trade represents a 7.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Heath Tarbert also recently made the following trade(s):

• On Monday, April 13th, Heath Tarbert sold 15,000 shares of Circle Internet Group stock. The stock was sold at an average price of $95.04, for a total transaction of $1,425,600.00.

Circle Internet Group Stock Down 5.8%

CRCL opened at $77.85 on Friday. The firm has a market cap of $19.35 billion and a price-to-earnings ratio of -24.33. Circle Internet Group, Inc. has a fifty-two week low of $49.90 and a fifty-two week high of $298.99. The company’s 50-day moving average price is $101.91 and its 200 day moving average price is $89.84.

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

Institutional Investors Weigh In On Circle Internet Group

Several large investors have recently made changes to their positions in CRCL. Creative Planning acquired a new stake in shares of Circle Internet Group in the second quarter valued at approximately $295,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Circle Internet Group in the second quarter valued at approximately $1,474,000. Invesco Ltd. acquired a new stake in shares of Circle Internet Group in the second quarter valued at approximately $47,640,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Circle Internet Group in the second quarter valued at approximately $27,000. Finally, Baird Financial Group Inc. bought a new position in shares of Circle Internet Group in the second quarter valued at approximately $2,649,000.

Wall Street Analysts Forecast Growth

CRCL has been the topic of several research reports. Morgan Stanley increased their price objective on shares of Circle Internet Group from $80.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 19th. Compass Point reiterated a “sell” rating and set a $77.00 price objective (down from $79.00) on shares of Circle Internet Group in a research note on Thursday, April 9th. Canaccord Genuity Group reiterated a “buy” rating and set a $160.00 price objective on shares of Circle Internet Group in a research note on Wednesday, March 25th. Freedom Capital upgraded shares of Circle Internet Group to a “hold” rating in a research note on Tuesday, April 21st. Finally, Mizuho dropped their price target on shares of Circle Internet Group from $135.00 to $85.00 and set a “neutral” rating on the stock in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $134.18.

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.