Key Points
- Heath Tarbert, President of Circle, sold 43,694 shares on March 10 at an average of $117.80 for $5,147,153.20, cutting his stake to 599,156 shares (a 6.8% ownership drop); this was one of several recent insider sales totaling about $18.0 million.
- Circle beat Q4 expectations with $0.43 EPS (vs. $0.25 est.) and revenue of $770.2M (up 76.9% YoY), but the stock still trades with a negative P/E (-60.53), a market cap of about $26.5B, and an average analyst rating of "Hold" with a consensus target of $123.47.
Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) President Heath Tarbert sold 43,694 shares of the 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 completion of the transaction, the president directly owned 599,156 shares in the company, valued at $70,580,576.80. This trade represents a 6.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
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 stock was 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 shares were sold at an average price of $90.10, for a total value of $117,130.00.
Circle Internet Group Stock Performance
Shares of NYSE:CRCL opened at $112.58 on Thursday. The stock has a 50-day simple moving average of $76.09 and a 200-day simple moving average of $98.09. The stock has a market capitalization of $26.51 billion and a P/E ratio of -60.53. Circle Internet Group, Inc. has a 1 year low of $49.90 and a 1 year high of $298.99.
Circle Internet Group (NYSE:CRCL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.25 by $0.18. The business had revenue of $770.23 million during the quarter. The business's revenue for the quarter was up 76.9% on a year-over-year basis.
Analyst Upgrades and Downgrades
CRCL has been the topic of a number of research reports. Mizuho raised their target price on shares of Circle Internet Group from $90.00 to $100.00 and gave the company a "neutral" rating in a research note on Tuesday, March 3rd. Deutsche Bank Aktiengesellschaft lowered their price target on Circle Internet Group from $147.00 to $90.00 and set a "hold" rating for the company in a report on Thursday, November 13th. Wells Fargo & Company cut their price objective on Circle Internet Group from $128.00 to $111.00 and set an "overweight" rating on the stock in a research report on Thursday, February 26th. Compass Point upgraded Circle Internet Group from a "sell" rating to a "neutral" rating and set a $75.00 price objective on the stock in a research note on Thursday, January 29th. Finally, William Blair reaffirmed an "outperform" rating on shares of Circle Internet Group in a research report on Wednesday, February 25th. One investment 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 stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $123.47.
Read Our Latest Analysis on CRCL
Institutional Trading of Circle Internet Group
Hedge funds and other institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC lifted its stake in shares of Circle Internet Group by 4,329.6% in the fourth quarter. Hsbc Holdings PLC now owns 168,104 shares of the company's stock worth $13,433,000 after acquiring an additional 164,309 shares in the last quarter. Sit Investment Associates Inc. grew its stake in Circle Internet Group by 93.6% during the 4th quarter. Sit Investment Associates Inc. now owns 9,100 shares of the company's stock valued at $722,000 after purchasing an additional 4,400 shares in the last quarter. Virtu Financial LLC purchased a new stake in Circle Internet Group during the 4th quarter worth approximately $2,159,000. Cambient Family Office LLC acquired a new position in shares of Circle Internet Group in the 4th quarter valued at approximately $376,000. Finally, Invesco Ltd. raised its position in shares of Circle Internet Group by 7.6% in the 4th quarter. Invesco Ltd. now owns 34,908 shares of the company's stock valued at $2,768,000 after purchasing an additional 2,467 shares in the last quarter.
Circle Internet Group Company Profile
(
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
