Insider Selling: Circle Internet Group (NYSE:CRCL) President Sells 43,694 Shares of Stock

Circle Internet Group, Inc. (NYSE:CRCL) President Heath Tarbert sold 43,694 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $117.80, for a total value of $5,147,153.20. Following the completion of the sale, the president directly owned 599,156 shares of the company’s stock, valued at approximately $70,580,576.80. The trade was a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, March 2nd, Heath Tarbert sold 122,007 shares of Circle Internet Group stock. The stock was sold at an average price of $94.23, for a total value of $11,496,719.61.
• On Thursday, February 26th, Heath Tarbert sold 10,753 shares of Circle Internet Group stock. The shares were sold at an average price of $90.14, for a total value of $969,275.42.
• On Monday, December 22nd, Heath Tarbert sold 3,048 shares of Circle Internet Group stock. The shares were sold at an average price of $90.02, for a total value of $274,380.96.
• 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 Price Performance

CRCL stock traded down $5.51 during midday trading on Wednesday, reaching $112.58. 19,195,680 shares of the company were exchanged, compared to its average volume of 14,905,321. The business has a 50-day moving average price of $75.42 and a two-hundred day moving average price of $97.99. Circle Internet Group, Inc. has a one year low of $49.90 and a one year high of $298.99. The firm has a market capitalization of $26.51 billion and a price-to-earnings ratio of -60.53.

Circle Internet Group (NYSE:CRCL) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.25 by $0.18. The company had revenue of $770.23 million during the quarter. The business’s quarterly revenue was up 76.9% compared to the same quarter last year.

Analysts Set New Price Targets

Several research firms have weighed in on CRCL. Sanford C. Bernstein set a $190.00 price target on shares of Circle Internet Group in a report on Tuesday, January 6th. Mizuho boosted their price objective on Circle Internet Group from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Circle Internet Group in a research report on Wednesday, January 21st. Wells Fargo & Company lowered their target price on Circle Internet Group from $128.00 to $111.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. Finally, Wall Street Zen upgraded Circle Internet Group from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Circle Internet Group has a consensus rating of “Hold” and a consensus target price of $123.47.

Institutional Trading of Circle Internet Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC bought a new stake in Circle Internet Group in the 2nd quarter valued at about $27,000. PNC Financial Services Group Inc. increased its holdings in shares of Circle Internet Group by 14.9% during the third quarter. PNC Financial Services Group Inc. now owns 1,164 shares of the company’s stock worth $154,000 after purchasing an additional 151 shares during the period. Larson Financial Group LLC raised its position in shares of Circle Internet Group by 3,800.0% in the third quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after buying an additional 190 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Circle Internet Group in the third quarter valued at approximately $27,000. Finally, Allworth Financial LP bought a new stake in shares of Circle Internet Group in the second quarter valued at approximately $37,000.

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 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.