Key Points
- CAO Tamara Schulz sold 1,000 shares of CRCL on Dec. 2 at an average price of $78.02 for $78,020, cutting her stake by 1.11% to 89,317 shares valued at about $6.97M.
- Circle beat expectations for the quarter with EPS of $0.64 vs. $0.20 consensus and revenue of $739.8M, up 65.9% year-over-year.
- Heavy institutional interest — large funds including General Catalyst, Marshall Wace, ARK and Vanguard established or increased positions (Vanguard up 61.6% to 5.58M shares), showing significant institutional buying.
Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) CAO Tamara Schulz sold 1,000 shares of Circle Internet Group stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $78.02, for a total transaction of $78,020.00. Following the completion of the sale, the chief accounting officer owned 89,317 shares in the company, valued at $6,968,512.34. This trade represents a 1.11% 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.
Circle Internet Group Stock Up 11.6%
Shares of NYSE CRCL opened at $86.40 on Thursday. The company's 50 day moving average is $112.45. Circle Internet Group, Inc. has a 52 week low of $64.00 and a 52 week high of $298.99.
Circle Internet Group (NYSE:CRCL - Get Free Report) last released its quarterly earnings data on Wednesday, November 12th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.44. The business had revenue of $739.76 million during the quarter. The firm's revenue was up 65.9% compared to the same quarter last year.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the stock. Canaccord Genuity Group reiterated a "buy" rating and issued a $247.00 price target on shares of Circle Internet Group in a research report on Thursday, September 11th. Citizens Jmp assumed coverage on Circle Internet Group in a report on Tuesday, September 30th. They set a "market perform" rating for the company. Baird R W upgraded Circle Internet Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 14th. William Blair reiterated an "outperform" rating on shares of Circle Internet Group in a research report on Wednesday, November 12th. Finally, JMP Securities began coverage on shares of Circle Internet Group in a report on Tuesday, September 30th. They issued a "market perform" rating for the company. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $144.69.
Check Out Our Latest Analysis on Circle Internet Group
Institutional Trading of Circle Internet Group
Hedge funds have recently made changes to their positions in the company. General Catalyst Group Management LLC acquired a new position in shares of Circle Internet Group in the second quarter valued at approximately $3,647,694,000. Marshall Wace LLP bought a new stake in Circle Internet Group during the 2nd quarter worth approximately $1,547,214,000. ARK Investment Management LLC acquired a new position in Circle Internet Group in the 2nd quarter valued at approximately $530,165,000. Vanguard Group Inc. increased its position in Circle Internet Group by 61.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company's stock valued at $739,624,000 after acquiring an additional 2,126,072 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Circle Internet Group by 282.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,299,374 shares of the company's stock valued at $172,271,000 after acquiring an additional 959,309 shares during the last quarter.
Circle Internet Group Company Profile
(
Get Free Report)
Founded in 2013, Circle's mission is to raise global economic prosperity through the frictionless exchange of value. We intend to connect the world more deeply by building a new global economic system on the foundation of the internet, and to facilitate the creation of a world where everyone, everywhere can share value as easily as we can today share information, content, and communications.
Further Reading
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