Circle Internet Group (NYSE:CRCL) Insider Hossein Razzaghi Sells 1,831 Shares

Circle Internet Group, Inc. (NYSE:CRCL) insider Hossein Razzaghi sold 1,831 shares of Circle Internet Group stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $64.40, for a total value of $117,916.40. Following the transaction, the insider owned 662,856 shares in the company, valued at $42,687,926.40. This represents a 0.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 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 value of $2,730,023.55.

Circle Internet Group Price Performance

Shares of CRCL opened at $64.56 on Friday. The business’s 50-day moving average is $95.51 and its 200-day moving average is $89.23. The company has a market capitalization of $16.05 billion and a price-to-earnings ratio of -20.17. Circle Internet Group, Inc. has a fifty-two week low of $49.90 and a fifty-two week high of $262.97.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.06). The company 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 revenue was up 20.0% compared to the same quarter last year. Equities research analysts expect that Circle Internet Group, Inc. will post 1.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Circle Internet Group

Several institutional investors have recently bought and sold shares of the stock. Bartlett & CO. Wealth Management LLC bought a new stake in shares of Circle Internet Group during the 4th quarter worth about $25,000. Larson Financial Group LLC lifted its holdings in Circle Internet Group by 3,800.0% in the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock worth $26,000 after purchasing an additional 190 shares during the last quarter. EverSource Wealth Advisors LLC bought a new stake in Circle Internet Group during the second quarter worth approximately $27,000. Bellevue Asset Management LLC bought a new stake in Circle Internet Group during the fourth quarter worth approximately $29,000. Finally, Harbour Investments Inc. grew its holdings in Circle Internet Group by 170.0% during the fourth quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock valued at $30,000 after purchasing an additional 238 shares during the last quarter.

Key Circle Internet Group News

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

• Positive Sentiment: Circle completed a second ARC token presale, which may indicate continued progress on its crypto product expansion. Circle Internet Group completes second ARC token presale
• Neutral Sentiment: Some analysts still see meaningful upside for Circle, with comments that the stock remains attractive relative to long-term sales growth even after the recent selloff.
• Neutral Sentiment: Susquehanna and Compass Point initiated or reiterated neutral views, suggesting the market is still weighing Circle’s growth potential against valuation and regulatory/competitive risks.
• Negative Sentiment: Director Patrick Sean Neville sold 50,000 shares under a pre-arranged trading plan, a large reduction that can weigh on sentiment even though it was disclosed as Rule 10b5-1 activity.
• Negative Sentiment: CAO Tamara L. Schulz and insider Hossein Razzaghi also sold shares, reinforcing concerns that company insiders are trimming exposure while the stock is under pressure.
• Negative Sentiment: Reports about rising stablecoin competition and Visa’s Open USD push are making investors question whether Circle’s stablecoin economics and long-term competitive advantage are at risk.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CRCL. Needham & Company LLC upped their price target on shares of Circle Internet Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Canaccord Genuity Group reissued a “buy” rating and set a $160.00 price objective on shares of Circle Internet Group in a research report on Wednesday, March 25th. Susquehanna initiated coverage on Circle Internet Group in a research note on Wednesday. They issued a “neutral” rating and a $69.00 target price on the stock. Morgan Stanley upped their target price on Circle Internet Group from $80.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 19th. Finally, KeyCorp assumed coverage on Circle Internet Group in a research note on Tuesday, May 26th. They set a “sector weight” rating for the company. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $117.38.

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.