Circle Internet Group (NYSE:CRCL) CFO Jeremy Fox-Geen Sells 4,238 Shares of Stock

Circle Internet Group, Inc. (NYSE:CRCL) CFO Jeremy Fox-Geen sold 4,238 shares of Circle Internet Group stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $85.78, for a total value of $363,535.64. Following the completion of the sale, the chief financial officer owned 302,930 shares in the company, valued at approximately $25,985,335.40. The trade was a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.

Jeremy Fox-Geen also recently made the following trade(s):

• On Wednesday, September 2nd, Jeremy Fox-Geen sold 8,120 shares of Circle Internet Group stock. The shares were sold at an average price of $87.87, for a total value of $713,504.40.
• On Tuesday, September 1st, Jeremy Fox-Geen sold 15,000 shares of Circle Internet Group stock. The shares were sold at an average price of $92.20, for a total value of $1,383,000.00.
• On Friday, August 21st, Jeremy Fox-Geen sold 45,000 shares of Circle Internet Group stock. The stock was sold at an average price of $90.00, for a total value of $4,050,000.00.
• On Thursday, August 13th, Jeremy Fox-Geen sold 8,476 shares of Circle Internet Group stock. The stock was sold at an average price of $75.00, for a total value of $635,700.00.

Circle Internet Group Price Performance

NYSE CRCL traded up $2.22 during mid-day trading on Monday, hitting $83.47. The stock had a trading volume of 9,456,727 shares, compared to its average volume of 14,767,264. The firm’s 50 day moving average is $82.24 and its 200 day moving average is $88.71. Circle Internet Group, Inc. has a twelve month low of $49.90 and a twelve month high of $159.47. The stock has a market capitalization of $21.19 billion, a price-to-earnings ratio of 57.17 and a beta of 0.73.

Circle Internet Group (NYSE:CRCL) last announced its earnings results on Wednesday, August 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.08). Circle Internet Group had a return on equity of 13.58% and a net margin of 15.53%.The business had revenue of $701.32 million for the quarter. During the same quarter in the previous year, the business posted ($4.48) earnings per share. The firm’s revenue was up 6.6% compared to the same quarter last year. As a group, equities research analysts expect that Circle Internet Group, Inc. will post 1.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CRCL shares. William Blair restated an “outperform” rating on shares of Circle Internet Group in a research report on Wednesday, August 5th. Needham & Company LLC cut their price objective on shares of Circle Internet Group from $150.00 to $127.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Seaport Research Partners set a $100.00 target price on shares of Circle Internet Group in a research note on Monday, August 17th. Sanford C. Bernstein restated an “outperform” rating and set a $140.00 target price on shares of Circle Internet Group in a report on Wednesday, July 29th. Finally, The Goldman Sachs Group restated an “underperform” rating on shares of Circle Internet Group in a research report on Wednesday, September 9th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Circle Internet Group presently has an average rating of “Hold” and a consensus price target of $97.82.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. IDG Accel China Capital II Associates L.P. purchased a new position in Circle Internet Group in the fourth quarter worth approximately $554,792,000. Southpoint Capital Advisors LP raised its position in Circle Internet Group by 175.0% in the first quarter. Southpoint Capital Advisors LP now owns 3,300,000 shares of the company’s stock valued at $314,853,000 after purchasing an additional 2,100,000 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Circle Internet Group by 13.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,917,764 shares of the company’s stock valued at $278,384,000 after purchasing an additional 342,080 shares during the last quarter. Amova Asset Management Americas Inc. lifted its stake in shares of Circle Internet Group by 13.4% in the 1st quarter. Amova Asset Management Americas Inc. now owns 2,914,947 shares of the company’s stock valued at $278,173,000 after purchasing an additional 344,539 shares during the last quarter. Finally, SBI Holdings USA Inc. purchased a new position in shares of Circle Internet Group during the 2nd quarter worth $101,084,820.

About Circle Internet Group

Circle Internet Group, Inc is a global financial technology company that develops infrastructure for digital currencies and blockchain-based payments. Its primary product is USD Coin (USDC), a dollar-denominated stablecoin designed to maintain a stable value and support digital transactions, payments and transfers across blockchain networks. Circle also issues EURC, a euro-denominated stablecoin.

The company provides institutional and developer-focused services through Circle Mint, which enables eligible businesses to create, redeem and manage USDC and access related payment and treasury tools.