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

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

Circle Internet Group Trading Down 5.8%

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

Circle Internet Group (NYSE:CRCL) last posted its earnings results on Monday, May 11th. The company reported $0.21 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 company had revenue of $694.13 million during the quarter. The business’s revenue was up 20.0% on a year-over-year basis. As a group, equities research analysts predict that Circle Internet Group, Inc. will post 1.02 EPS for the current year.

Wall Street Analyst Weigh In

CRCL has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Circle Internet Group from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. 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 report on Monday, May 18th. William Blair reaffirmed an “outperform” rating on shares of Circle Internet Group in a research report on Thursday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $160.00 target price on shares of Circle Internet Group in a research report on Wednesday, March 25th. Finally, Wells Fargo & Company upped their target price on shares of Circle Internet Group from $111.00 to $142.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $134.18.

Institutional Trading of Circle Internet Group

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

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.