Key Points
- Director Danita Ostling sold 1,200 shares of Circle Internet Group on May 12 at an average price of $132.06, totaling about $158,472. After the sale, she still held 22,590 shares valued at roughly $2.98 million.
- Circle’s stock rose 2.5% and opened Thursday at $126.73, with the company carrying a market cap of $31.28 billion. The shares have traded between a 52-week low of $49.90 and a high of $298.99.
- Latest earnings missed expectations, with Circle reporting $0.21 EPS versus the $0.27 consensus, even though revenue rose 20% year over year to $694.13 million. Analysts currently have a consensus rating of Hold with an average price target of $131.76.
Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) Director Danita Ostling sold 1,200 shares of the company's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $132.06, for a total value of $158,472.00. Following the completion of the sale, the director directly owned 22,590 shares of the company's stock, valued at approximately $2,983,235.40. This trade represents a 5.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Circle Internet Group Stock Up 2.5%
Shares of NYSE CRCL opened at $126.73 on Thursday. The stock has a market cap of $31.28 billion and a PE ratio of -39.60. Circle Internet Group, Inc. has a 52-week low of $49.90 and a 52-week high of $298.99. The business has a 50-day moving average price of $106.22 and a 200 day moving average price of $90.12.
Circle Internet Group (NYSE:CRCL - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.27 by ($0.06). The firm had revenue of $694.13 million during the quarter. Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The firm's revenue was up 20.0% compared to the same quarter last year. Sell-side analysts anticipate that Circle Internet Group, Inc. will post 0.85 earnings per share for the current year.
Hedge Funds Weigh In On Circle Internet Group
Several hedge funds have recently bought and sold shares of CRCL. Creative Planning purchased a new position in Circle Internet Group in the 2nd quarter valued at approximately $295,000. Arrowstreet Capital Limited Partnership purchased a new position in Circle Internet Group in the 2nd quarter valued at approximately $1,474,000. Invesco Ltd. purchased a new position in Circle Internet Group in the 2nd quarter valued at approximately $47,640,000. EverSource Wealth Advisors LLC purchased a new position in Circle Internet Group in the 2nd quarter valued at approximately $27,000. Finally, Baird Financial Group Inc. purchased a new position in Circle Internet Group in the 2nd quarter valued at approximately $2,649,000.
Wall Street Analysts Forecast Growth
CRCL has been the subject of a number of research analyst reports. Zacks Research raised Circle Internet Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, March 17th. Mizuho increased their price objective on Circle Internet Group from $120.00 to $135.00 and gave the stock a "neutral" rating in a research report on Tuesday. William Blair reaffirmed an "outperform" rating on shares of Circle Internet Group in a research report on Wednesday, February 25th. Robert W. Baird increased their price objective on Circle Internet Group from $110.00 to $138.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 17th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Circle Internet Group in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $131.76.
Check Out Our Latest Stock Analysis on Circle Internet Group
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 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.
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