Hossein Razzaghi Sells 34,623 Shares of Circle Internet Group (NYSE:CRCL) Stock

Circle Internet Group, Inc. (NYSE:CRCL) insider Hossein Razzaghi sold 34,623 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $78.85, for a total transaction of $2,730,023.55. Following the sale, the insider directly owned 666,404 shares of the company’s stock, valued at approximately $52,545,955.40. This trade represents a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Circle Internet Group Price Performance

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

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm’s quarterly revenue was up 20.0% compared to the same quarter last year. As a group, analysts expect that Circle Internet Group, Inc. will post 1.02 EPS for the current year.

Institutional Investors Weigh In On Circle Internet Group

Several large investors have recently bought and sold shares of CRCL. General Catalyst Group Management LLC bought a new stake in Circle Internet Group in the second quarter valued at approximately $3,647,694,000. IDG Accel China Capital II Associates L.P. bought a new stake in Circle Internet Group in the fourth quarter valued at approximately $554,792,000. Accel XI Associates L.L.C. bought a new stake in Circle Internet Group in the fourth quarter valued at approximately $513,844,000. Vanguard Group Inc. increased its stake in Circle Internet Group by 61.6% in the third quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock valued at $739,624,000 after purchasing an additional 2,126,072 shares in the last quarter. Finally, Southpoint Capital Advisors LP increased its stake in Circle Internet Group by 175.0% in the first quarter. Southpoint Capital Advisors LP now owns 3,300,000 shares of the company’s stock valued at $314,853,000 after purchasing an additional 2,100,000 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. KeyCorp assumed coverage on shares of Circle Internet Group in a research note on Tuesday, May 26th. They set a “sector weight” rating for the company. Morgan Stanley boosted their price target 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. HC Wainwright raised shares of Circle Internet Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $85.00 to $150.00 in a research note on Monday, May 18th. Robert W. Baird upped their target price on shares of Circle Internet Group from $110.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday, March 17th. Finally, Clear Str raised shares of Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.