Insider Selling: Circle Internet Group (NYSE:CRCL) Director Sells $4,065,000.00 in Stock

Circle Internet Group, Inc. (NYSE:CRCL) Director Patrick Sean Neville sold 50,000 shares of Circle Internet Group stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $81.30, for a total transaction of $4,065,000.00. Following the completion of the transaction, the director directly owned 2,018 shares in the company, valued at approximately $164,063.40. The trade was a 96.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 shares were sold at an average price of $82.87, for a total transaction of $85,720,396.52.
• On Friday, May 1st, Patrick Sean Neville sold 5,000 shares of Circle Internet Group stock. The shares were sold at an average price of $92.64, for a total transaction of $463,200.00.
• On Friday, May 1st, Patrick Sean Neville sold 30,000 shares of Circle Internet Group stock. The shares were sold at an average price of $92.65, for a total transaction of $2,779,500.00.
• On Wednesday, April 1st, Patrick Sean Neville sold 5,000 shares of Circle Internet Group stock. The shares were sold at an average price of $98.04, for a total transaction of $490,200.00.
• On Wednesday, April 1st, Patrick Sean Neville sold 30,000 shares of Circle Internet Group stock. The shares were sold at an average price of $98.04, for a total transaction of $2,941,200.00.

Circle Internet Group Stock Down 5.8%

NYSE CRCL opened at $77.85 on Friday. 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 $19.35 billion and a PE ratio of -24.33. The firm’s 50 day moving average is $101.91 and its 200-day moving average is $89.84.

Circle Internet Group (NYSE:CRCL) last posted 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 negative net margin of 2.76% and a positive return on equity of 2.89%. The business had revenue of $694.13 million during the quarter. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. As a group, sell-side analysts expect that Circle Internet Group, Inc. will post 1.02 EPS for the current year.

Hedge Funds Weigh In On Circle Internet Group

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Circle Internet Group by 61.6% during the third quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock worth $739,624,000 after acquiring an additional 2,126,072 shares during the period. Travelers Companies Inc. bought a new stake in shares of Circle Internet Group during the fourth quarter worth approximately $9,557,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Circle Internet Group by 98.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,575,684 shares of the company’s stock worth $204,252,000 after acquiring an additional 1,276,310 shares during the period. CenterBook Partners LP boosted its holdings in shares of Circle Internet Group by 1,069.9% during the third quarter. CenterBook Partners LP now owns 66,357 shares of the company’s stock worth $8,798,000 after acquiring an additional 60,685 shares during the period. Finally, Amova Asset Management Americas Inc. boosted its holdings in shares of Circle Internet Group by 222.1% during the third quarter. Amova Asset Management Americas Inc. now owns 1,294,079 shares of the company’s stock worth $171,453,000 after acquiring an additional 892,359 shares during the period.

Analyst Upgrades and Downgrades

CRCL has been the topic of a number of recent research reports. Zacks Research upgraded shares of Circle Internet Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. Wells Fargo & Company lifted their price objective on shares of Circle Internet Group from $111.00 to $142.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Circle Internet Group in a report on Monday, April 20th. Morgan Stanley lifted their price objective on shares of Circle Internet Group from $80.00 to $106.00 and gave the company an “equal weight” rating in a report on Tuesday, May 19th. Finally, KeyCorp initiated coverage on shares of Circle Internet Group in a report on Tuesday, May 26th. They issued a “sector weight” rating on the stock. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $134.18.

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.