Key Points
- CFO Jeremy Fox-Geen sold 4,238 Circle shares at an average price of $85.78, generating $363,535.64. The sale was made under a Rule 10b5-1 plan to cover tax withholding on vested equity awards, leaving him with 302,930 shares.
- Fox-Geen has made several additional sales since August, including 45,000 shares sold for $4.05 million on August 21. The latest transaction reduced his direct ownership by 1.38%.
- Circle reported quarterly revenue of $701.32 million, up 6.6% year over year, but EPS of $0.18 fell short of the $0.26 consensus estimate. Analysts have an average “Hold” rating and a $97.82 price target, compared with the stock’s reported $83.47 opening price.
Circle Internet Group, Inc. (NYSE:CRCL - Get Free Report) CAO Tamara Schulz sold 1,194 shares of the stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $85.78, for a total value of $102,421.32. Following the completion of the sale, the chief accounting officer owned 94,248 shares in the company, valued at approximately $8,084,593.44. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 2.7%
CRCL opened at $83.47 on Tuesday. The business has a fifty day moving average of $82.60 and a 200 day moving average of $88.36. Circle Internet Group, Inc. has a 52-week low of $49.90 and a 52-week high of $159.47. The stock has a market cap of $21.19 billion, a P/E ratio of 57.17 and a beta of 0.73.
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). The business had revenue of $701.32 million during the quarter. Circle Internet Group had a net margin of 15.53% and a return on equity of 13.58%. The firm's revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($4.48) earnings per share. Equities analysts anticipate that Circle Internet Group, Inc. will post 1.08 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the company. Wall Street Zen raised Circle Internet Group from a "strong sell" rating to a "sell" rating in a research report on Saturday. Raymond James Financial started coverage on Circle Internet Group in a research report on Tuesday, July 21st. They set a "market perform" rating on the stock. Wolfe Research raised their price target on Circle Internet Group from $50.00 to $65.00 and gave the company an "underperform" rating in a research note on Tuesday, August 25th. Seaport Research Partners set a $100.00 price objective on Circle Internet Group in a report on Monday, August 17th. Finally, TD Cowen upped their price objective on shares of Circle Internet Group from $87.00 to $92.00 and gave the stock a "buy" rating in a research note on Thursday, September 17th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Circle Internet Group presently has an average rating of "Hold" and a consensus target price of $97.82.
Check Out Our Latest Analysis on Circle Internet Group
Hedge Funds Weigh In On Circle Internet Group
A number of large investors have recently bought and sold shares of CRCL. Harbour Investments Inc. lifted its holdings in Circle Internet Group by 170.0% during the fourth quarter. Harbour Investments Inc. now owns 378 shares of the company's stock worth $30,000 after buying an additional 238 shares during the period. WPG Advisers LLC bought a new stake in Circle Internet Group during the 1st quarter valued at $31,000. First Horizon Corp purchased a new position in shares of Circle Internet Group in the 1st quarter valued at $35,000. Abound Financial LLC bought a new position in shares of Circle Internet Group in the 1st quarter worth $38,000. Finally, Global Assets Advisory LLC bought a new position in shares of Circle Internet Group in the 1st quarter worth $43,000.
About Circle Internet Group
(
Get Free Report)
Circle Internet Group, Inc is a global financial technology company that develops infrastructure for digital currencies and blockchain-based payments. Its primary product is USD Coin (USDC), a dollar-denominated stablecoin designed to maintain a stable value and support digital transactions, payments and transfers across blockchain networks. Circle also issues EURC, a euro-denominated stablecoin.
The company provides institutional and developer-focused services through Circle Mint, which enables eligible businesses to create, redeem and manage USDC and access related payment and treasury tools.
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