Circle Internet Group (NYSE:CRCL) Director Patrick Sean Neville Sells 50,000 Shares of Stock

Circle Internet Group, Inc. (NYSE:CRCL) Director Patrick Sean Neville sold 50,000 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $62.65, for a total transaction of $3,132,500.00. Following the sale, the director owned 2,018 shares of the company’s stock, valued at $126,427.70. This represents a 96.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Patrick Sean Neville also recently made the following trade(s):

• On Tuesday, June 9th, Patrick Sean Neville sold 50,000 shares of Circle Internet Group stock. The stock was sold at an average price of $81.30, for a total transaction of $4,065,000.00.
• On Monday, June 8th, Patrick Sean Neville sold 1,034,396 shares of Circle Internet Group stock. The shares were sold at an average price of $82.87, for a total transaction of $85,720,396.52.
• On Friday, May 1st, Patrick Sean Neville sold 5,000 shares of Circle Internet Group stock. The shares were sold at an average price of $92.64, for a total transaction of $463,200.00.
• On Friday, May 1st, Patrick Sean Neville sold 30,000 shares of Circle Internet Group stock. The stock was sold at an average price of $92.65, for a total transaction of $2,779,500.00.

Circle Internet Group Stock Performance

Shares of NYSE CRCL traded up $2.61 during trading hours on Thursday, hitting $64.56. The company’s stock had a trading volume of 17,677,699 shares, compared to its average volume of 15,297,530. The stock has a market cap of $16.05 billion and a price-to-earnings ratio of -20.17. Circle Internet Group, Inc. has a 12 month low of $49.90 and a 12 month high of $262.97. The business has a 50-day simple moving average of $96.14 and a 200-day simple moving average of $89.36.

Circle Internet Group (NYSE:CRCL) last released its quarterly 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 business had revenue of $694.13 million for the quarter. Circle Internet Group’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, equities research analysts forecast that Circle Internet Group, Inc. will post 1.02 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CRCL. Morgan Stanley raised their price target on 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. William Blair reaffirmed an “outperform” rating on shares of Circle Internet Group in a research note on Thursday, June 11th. The Goldman Sachs Group reduced their price target on shares of Circle Internet Group from $111.00 to $96.00 and set a “neutral” rating on the stock in a research report on Thursday. Compass Point upgraded shares of Circle Internet Group from a “sell” rating to a “neutral” rating and lowered their price objective for the stock from $97.00 to $55.00 in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $101.00 target price on shares of Circle Internet Group in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $117.38.

Institutional Trading of Circle Internet Group

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