Key Points
- Director Patrick Neville sold 50,000 Circle shares at an average price of $92.09, generating $4.6 million; the Rule 10b5-1 transaction reduced his ownership by 96.12% to 2,018 shares.
- Circle shares opened at $103.08 after rising 16.3%, with a market capitalization of about $26.2 billion. The stock trades between a 52-week range of $49.90 to $159.47.
- Circle’s latest quarterly earnings missed estimates, reporting $0.18 in EPS versus the $0.26 consensus, although revenue rose 6.6% year over year to $701.32 million. Analysts maintain a consensus “Hold” rating with an average price target of $99.35.
Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) CAO Tamara Schulz sold 1,194 shares of Circle Internet Group stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $87.87, for a total transaction of $104,916.78. Following the completion of the transaction, the chief accounting officer directly owned 96,473 shares in the company, valued at approximately $8,477,082.51. The trade was a 1.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Circle Internet Group Stock Up 16.3%
NYSE:CRCL opened at $103.08 on Friday. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $159.47. The firm has a 50 day moving average of $71.80 and a 200 day moving average of $88.70. The stock has a market capitalization of $26.17 billion, a price-to-earnings ratio of 70.60 and a beta of 0.59.
Circle Internet Group (NYSE:CRCL - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.08). The firm had revenue of $701.32 million during the quarter. Circle Internet Group had a return on equity of 13.58% and a net margin of 15.53%.The company's revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($4.48) earnings per share. As a group, analysts expect that Circle Internet Group, Inc. will post 1.05 EPS for the current year.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on CRCL. Seaport Research Partners set a $100.00 target price on Circle Internet Group in a research note on Monday, August 17th. Robert W. Baird lowered their price target on Circle Internet Group from $138.00 to $100.00 and set an "outperform" rating for the company in a report on Monday, July 13th. Wall Street Zen lowered Circle Internet Group from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 1st. Raymond James Financial initiated coverage on shares of Circle Internet Group in a report on Tuesday, July 21st. They set a "market perform" rating on the stock. Finally, HC Wainwright decreased their price objective on shares of Circle Internet Group from $115.00 to $104.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Circle Internet Group currently has a consensus rating of "Hold" and an average price target of $99.35.
Check Out Our Latest Research Report on Circle Internet Group
Trending Headlines about Circle Internet Group
Here are the key news stories impacting Circle Internet Group this week:
Institutional Trading of Circle Internet Group
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its stake in shares of Circle Internet Group by 3,800.0% in the third quarter. Larson Financial Group LLC now owns 195 shares of the company's stock worth $26,000 after purchasing an additional 190 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new stake in Circle Internet Group during the 2nd quarter valued at approximately $27,000. Harbour Investments Inc. boosted its holdings in shares of Circle Internet Group by 170.0% in the 4th quarter. Harbour Investments Inc. now owns 378 shares of the company's stock valued at $30,000 after acquiring an additional 238 shares during the last quarter. WPG Advisers LLC purchased a new position in shares of Circle Internet Group during the first quarter worth $31,000. Finally, First Horizon Corp acquired a new position in Circle Internet Group during the first quarter valued at $35,000.
Circle Internet Group Company Profile
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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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