Insider Selling: Circle Internet Group (NYSE:CRCL) President Sells 3,048 Shares of Stock

Circle Internet Group, Inc. (NYSE:CRCL) President Heath Tarbert sold 3,048 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $90.02, for a total value of $274,380.96. Following the completion of the sale, the president directly owned 579,302 shares of the company’s stock, valued at $52,148,766.04. The trade was a 0.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, December 12th, Heath Tarbert sold 1,300 shares of Circle Internet Group stock. The shares were sold at an average price of $90.10, for a total value of $117,130.00.

Circle Internet Group Stock Down 5.1%

NYSE CRCL traded down $4.41 on Tuesday, hitting $82.60. 9,334,052 shares of the stock were exchanged, compared to its average volume of 18,173,600. Circle Internet Group, Inc. has a 52-week low of $64.00 and a 52-week high of $298.99. The business has a fifty day moving average price of $98.14.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings results on Wednesday, November 12th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.20 by $0.44. The company had revenue of $739.76 million during the quarter. The company’s quarterly revenue was up 65.9% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. General Catalyst Group Management LLC acquired a new stake in shares of Circle Internet Group in the 2nd quarter valued at $3,647,694,000. Marshall Wace LLP purchased a new position in Circle Internet Group in the second quarter valued at $1,547,214,000. ARK Investment Management LLC acquired a new stake in Circle Internet Group in the second quarter valued at $530,165,000. Vanguard Group Inc. lifted its holdings in Circle Internet Group by 61.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock worth $739,624,000 after buying an additional 2,126,072 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Circle Internet Group by 282.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,299,374 shares of the company’s stock worth $172,271,000 after acquiring an additional 959,309 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CRCL shares. Wolfe Research started coverage on Circle Internet Group in a research note on Tuesday, December 2nd. They set an “underperform” rating and a $60.00 price target on the stock. William Blair restated an “outperform” rating on shares of Circle Internet Group in a research report on Wednesday, November 12th. Canaccord Genuity Group reissued a “buy” rating and issued a $247.00 price objective on shares of Circle Internet Group in a research note on Thursday, September 11th. Robert W. Baird reduced their price objective on Circle Internet Group from $144.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday, November 13th. Finally, Citigroup initiated coverage on Circle Internet Group in a research note on Tuesday, September 30th. They set a “market perform” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $141.18.

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 USD Coin (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.