Circle Internet Group (NYSE:CRCL) President Sells $5,147,153.20 in Stock

Circle Internet Group, Inc. (NYSE:CRCL) President Heath Tarbert sold 43,694 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $117.80, for a total value of $5,147,153.20. Following the transaction, the president directly owned 599,156 shares of the company’s stock, valued at $70,580,576.80. This trade represents a 6.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 shares were 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 stock was 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 stock was sold at an average price of $90.10, for a total transaction of $117,130.00.

Circle Internet Group Trading Up 0.9%

CRCL opened at $115.22 on Friday. The company’s 50 day moving average is $77.42 and its 200-day moving average is $98.13. Circle Internet Group, Inc. has a 1-year low of $49.90 and a 1-year high of $298.99. The company has a market cap of $27.13 billion and a P/E ratio of -61.95.

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

Wall Street Analyst Weigh In

CRCL has been the subject of several research reports. William Blair reiterated an “outperform” rating on shares of Circle Internet Group in a research report on Wednesday, February 25th. Wells Fargo & Company lowered their price objective on Circle Internet Group from $128.00 to $111.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. JPMorgan Chase & Co. dropped their price objective on shares of Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, February 10th. The Goldman Sachs Group lifted their target price on shares of Circle Internet Group from $79.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, January 5th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Circle Internet Group in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $124.65.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CRCL. General Catalyst Group Management LLC acquired a new stake in Circle Internet Group in the second quarter worth $3,647,694,000. Marshall Wace LLP raised its holdings in shares of Circle Internet Group by 23.8% during the fourth quarter. Marshall Wace LLP now owns 9,978,729 shares of the company’s stock valued at $791,313,000 after purchasing an additional 1,919,205 shares during the period. IDG Accel China Capital II Associates L.P. acquired a new position in shares of Circle Internet Group during the fourth quarter valued at about $554,792,000. Accel XI Associates L.L.C. bought a new position in shares of Circle Internet Group during the 4th quarter worth about $513,844,000. Finally, Vanguard Group Inc. boosted its position in shares of Circle Internet Group by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 5,653,110 shares of the company’s stock worth $448,292,000 after purchasing an additional 74,414 shares in the last quarter.

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.