Key Points
- Director M Michele Burns sold 25,000 shares on March 4 at an average price of $105 for $2.625 million, leaving her with 355,230 shares (a 6.57% decrease); the sale was disclosed in an SEC filing.
- Additional recent insider sales by Burns include 80,000 shares on March 2 at $94.88 ($7.59M) and 10,000 shares on Feb 26 at $82 ($820k), signalling sizable near-term insider liquidation.
- Company fundamentals: Circle beat EPS estimates ($0.43 vs. $0.25) with revenue up 76.9% year-over-year, while the stock trades near $103.40 with a ~$24.35B market cap and an average analyst rating of "Hold" (consensus target $123.47).
Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) Director M Michele Burns sold 25,000 shares of the firm's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $105.00, for a total transaction of $2,625,000.00. Following the transaction, the director owned 355,230 shares of the company's stock, valued at approximately $37,299,150. This represents a 6.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
M Michele Burns also recently made the following trade(s):
- On Monday, March 2nd, M Michele Burns sold 80,000 shares of Circle Internet Group stock. The shares were sold at an average price of $94.88, for a total value of $7,590,400.00.
- On Thursday, February 26th, M Michele Burns sold 10,000 shares of Circle Internet Group stock. The stock was sold at an average price of $82.00, for a total value of $820,000.00.
Circle Internet Group Price Performance
Shares of Circle Internet Group stock traded down $2.34 during midday trading on Friday, hitting $103.40. 4,637,868 shares of the company were exchanged, compared to its average volume of 14,073,194. The firm has a 50 day simple moving average of $73.63 and a 200-day simple moving average of $99.04. The firm has a market cap of $24.35 billion and a P/E ratio of -55.59. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $298.99.
Circle Internet Group (NYSE:CRCL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.18. The company had revenue of $770.23 million during the quarter. The company's revenue was up 76.9% compared to the same quarter last year.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the stock. Wolfe Research started coverage on shares of Circle Internet Group in a research report on Tuesday, December 2nd. They set an "underperform" rating and a $60.00 target price for the company. Zacks Research cut shares of Circle Internet Group from a "hold" rating to a "strong sell" rating in a research note on Monday, February 16th. Robert W. Baird raised shares of Circle Internet Group from a "hold" rating to a "strong-buy" rating in a report on Friday, November 14th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Circle Internet Group from $147.00 to $90.00 and set a "hold" rating for the company in a research note on Thursday, November 13th. Finally, Morgan Stanley began coverage on Circle Internet Group in a report on Monday, February 2nd. They set an "equal weight" rating and a $66.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $123.47.
Check Out Our Latest Analysis on CRCL
Hedge Funds Weigh In On Circle Internet Group
A number of large investors have recently modified their holdings of the stock. General Catalyst Group Management LLC acquired a new stake in shares of Circle Internet Group in the second quarter valued at approximately $3,647,694,000. Marshall Wace LLP bought a new position in Circle Internet Group in the 2nd quarter valued at $1,547,214,000. IDG Accel China Capital II Associates L.P. bought a new position in Circle Internet Group in the 4th quarter valued at $554,792,000. Accel XI Associates L.L.C. acquired a new stake in shares of Circle Internet Group in the 4th quarter valued at $513,844,000. Finally, Vanguard Group Inc. raised its position in shares of Circle Internet Group by 61.6% during the third quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company's stock worth $739,624,000 after acquiring an additional 2,126,072 shares during the last quarter.
About Circle Internet Group
(
Get Free Report)
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 USD Coin (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.
Further Reading
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