Key Points
- Director Patrick Sean Neville sold 50,000 shares of Circle Internet Group on June 9 at an average price of $81.30, totaling $4.07 million. The sale left him with 2,018 shares, a 96.12% reduction in his position, and it was made under a pre-arranged Rule 10b5-1 plan.
- Neville has also made several other large sales recently, including 1.03 million shares on June 8 for about $85.7 million, plus additional sales in April and May. The article highlights a broader pattern of insider selling over recent months.
- Circle shares were up 5.0% to $82.88, but the company’s latest earnings missed estimates, reporting $0.21 EPS versus $0.27 expected. Analysts currently have a Hold consensus rating with an average price target of $134.18.
Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) Director Patrick Sean Neville sold 50,000 shares of the business's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $81.30, for a total transaction of $4,065,000.00. Following the transaction, the director owned 2,018 shares of the company's stock, valued at approximately $164,063.40. The trade was a 96.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Patrick Sean Neville also recently made the following trade(s):
- On Monday, June 8th, Patrick Sean Neville sold 1,034,396 shares of Circle Internet Group stock. The shares were sold at an average price of $82.87, for a total transaction of $85,720,396.52.
- On Friday, May 1st, Patrick Sean Neville sold 5,000 shares of Circle Internet Group stock. The shares were sold at an average price of $92.64, for a total transaction of $463,200.00.
- On Friday, May 1st, Patrick Sean Neville sold 30,000 shares of Circle Internet Group stock. The shares were sold at an average price of $92.65, for a total transaction of $2,779,500.00.
- On Wednesday, April 1st, Patrick Sean Neville sold 5,000 shares of Circle Internet Group stock. The shares were sold at an average price of $98.04, for a total transaction of $490,200.00.
- On Wednesday, April 1st, Patrick Sean Neville sold 30,000 shares of Circle Internet Group stock. The stock was sold at an average price of $98.04, for a total transaction of $2,941,200.00.
Circle Internet Group Stock Up 5.0%
NYSE CRCL opened at $82.88 on Friday. Circle Internet Group, Inc. has a 52-week low of $49.90 and a 52-week high of $298.99. The stock has a market capitalization of $20.60 billion and a P/E ratio of -25.90. The firm has a 50-day moving average price of $102.17 and a 200 day moving average price of $89.93.
Circle Internet Group (NYSE:CRCL - Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.06). The business 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 company's revenue for the quarter was up 20.0% compared to the same quarter last year. On average, equities research analysts expect that Circle Internet Group, Inc. will post 1.02 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on CRCL shares. Robert W. Baird boosted their target price on shares of Circle Internet Group from $110.00 to $138.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 17th. Freedom Capital upgraded shares of Circle Internet Group to a "hold" rating in a research report on Tuesday, April 21st. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $160.00 price target on shares of Circle Internet Group in a research note on Wednesday, March 25th. KeyCorp initiated coverage on shares of Circle Internet Group in a research note on Tuesday, May 26th. They set a "sector weight" rating for the company. Finally, HC Wainwright raised shares of Circle Internet Group from a "neutral" rating to a "buy" rating and increased their target price for the company from $85.00 to $150.00 in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $134.18.
Read Our Latest Stock Analysis on Circle Internet Group
Hedge Funds Weigh In On Circle Internet Group
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC increased its position in shares of Circle Internet Group by 27.4% during the 1st quarter. NewEdge Advisors LLC now owns 6,594 shares of the company's stock worth $629,000 after purchasing an additional 1,420 shares in the last quarter. Caerus Investment Advisors LLC acquired a new stake in shares of Circle Internet Group during the 1st quarter worth about $265,000. Lavelle Capital LP acquired a new stake in shares of Circle Internet Group during the 1st quarter worth about $1,908,000. CTC Alternative Strategies Ltd. acquired a new stake in Circle Internet Group in the 1st quarter valued at about $382,000. Finally, Essential Partners LLC increased its position in Circle Internet Group by 1,728.6% in the 1st quarter. Essential Partners LLC now owns 768 shares of the company's stock valued at $73,000 after acquiring an additional 726 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 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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