Key Points
- CFO Jeremy Fox-Geen sold 8,476 Circle shares at an average price of $75, generating $635,700 under a pre-arranged Rule 10b5-1 trading plan. He retains 323,837 shares, valued at approximately $24.3 million.
- Circle reported quarterly EPS of $0.18, below the $0.26 consensus estimate, while revenue rose 6.6% year over year to $701.32 million.
- Analysts maintain a consensus “Hold” rating with an average price target of $97.12; CRCL opened at $71.79, with shares down 4.8% and trading well below the 200-day moving average.
Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) CFO Jeremy Fox-Geen sold 8,476 shares of the business's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $75.00, for a total transaction of $635,700.00. Following the sale, the chief financial officer owned 323,837 shares of the company's stock, valued at approximately $24,287,775. This represents a 2.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Jeremy Fox-Geen also recently made the following trade(s):
- On Friday, June 5th, Jeremy Fox-Geen sold 8,120 shares of Circle Internet Group stock. The stock was sold at an average price of $88.00, for a total value of $714,560.00.
Circle Internet Group Stock Down 4.8%
NYSE CRCL opened at $71.79 on Friday. The company has a 50-day moving average price of $69.34 and a 200-day moving average price of $85.92. The firm has a market capitalization of $18.23 billion, a P/E ratio of 49.17 and a beta of 0.23. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $159.47.
Circle Internet Group (NYSE:CRCL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.08). Circle Internet Group had a net margin of 15.53% and a return on equity of 13.58%. The business had revenue of $701.32 million during the quarter. During the same quarter last year, the firm earned ($4.48) EPS. The firm's quarterly revenue was up 6.6% on a year-over-year basis. As a group, equities research analysts anticipate that Circle Internet Group, Inc. will post 1.04 EPS for the current year.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on CRCL shares. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $101.00 price objective on shares of Circle Internet Group in a research note on Tuesday, May 12th. HC Wainwright cut their price target on shares of Circle Internet Group from $115.00 to $104.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. William Blair reaffirmed an "outperform" rating on shares of Circle Internet Group in a research report on Wednesday, August 5th. Canaccord Genuity Group decreased their price objective on Circle Internet Group from $160.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Finally, The Goldman Sachs Group set a $71.00 target price on Circle Internet Group in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, thirteen have issued 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 $97.12.
Read Our Latest Analysis on Circle Internet Group
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. increased its holdings in shares of Circle Internet Group by 17.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 255,222 shares of the company's stock valued at $20,239,000 after purchasing an additional 38,567 shares in the last quarter. Travelers Companies Inc. purchased a new stake in Circle Internet Group during the fourth quarter worth $9,557,000. Fifth Third Bancorp acquired a new stake in Circle Internet Group during the first quarter valued at $7,282,000. Alberta Investment Management Corp purchased a new position in Circle Internet Group in the fourth quarter valued at $25,027,000. Finally, GC Wealth Management RIA LLC purchased a new position in Circle Internet Group in the fourth quarter valued at $18,165,000.
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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