Circle Internet Group (NYSE:CRCL) Director Sells $3,132,500.00 in Stock

Circle Internet Group, Inc. (NYSE:CRCL) Director Patrick Sean Neville sold 50,000 shares of the firm’s stock in a transaction that occurred 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 directly owned 2,018 shares of the company’s stock, valued at $126,427.70. This trade represents a 96.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 shares were sold at an average price of $81.30, for a total value of $4,065,000.00.
• On Monday, June 8th, Patrick Sean Neville sold 1,034,396 shares of Circle Internet Group stock. The stock was sold at an average price of $82.87, for a total value 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 Trading Up 4.2%

NYSE:CRCL traded up $2.61 during trading hours on Thursday, reaching $64.56. The company had a trading volume of 17,677,699 shares, compared to its average volume of 15,297,530. The firm has a market cap of $16.05 billion and a price-to-earnings ratio of -20.17. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $262.97. The firm’s 50 day moving average price is $96.14 and its 200-day moving average price is $89.36.

Circle Internet Group (NYSE:CRCL) last announced its earnings results on Monday, May 11th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.06). The firm had revenue of $694.13 million during the quarter. Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.The business’s revenue was up 20.0% compared to the same quarter last year. On average, analysts forecast that Circle Internet Group, Inc. will post 1.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. General Catalyst Group Management LLC bought a new position in Circle Internet Group during the second quarter valued at $3,647,694,000. IDG Accel China Capital II Associates L.P. purchased a new position in shares of Circle Internet Group during the 4th quarter worth about $554,792,000. Accel XI Associates L.L.C. purchased a new position in shares of Circle Internet Group during the 4th quarter worth about $513,844,000. Southpoint Capital Advisors LP raised its position in Circle Internet Group by 175.0% in the 1st quarter. Southpoint Capital Advisors LP now owns 3,300,000 shares of the company’s stock worth $314,853,000 after purchasing an additional 2,100,000 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in Circle Internet Group in the fourth quarter worth about $163,948,000.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CRCL shares. Clear Str upgraded shares of Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 16th. Morgan Stanley upped their price objective 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. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $101.00 price target on shares of Circle Internet Group in a report on Tuesday, May 12th. Compass Point upgraded Circle Internet Group from a “sell” rating to a “neutral” rating and reduced their price target for the stock from $97.00 to $55.00 in a research report on Tuesday. Finally, Freedom Capital raised Circle Internet Group to a “hold” rating in a research note on Tuesday, April 21st. One equities 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.