Traders Purchase Large Volume of Circle Internet Group Call Options (NYSE:CRCL)
by Teresa Graham · The Cerbat GemCircle Internet Group, Inc. (NYSE:CRCL – Get Free Report) saw some unusual options trading activity on Friday. Stock investors bought 111,238 call options on the stock. This is an increase of approximately 12% compared to the typical volume of 99,313 call options.
Circle Internet Group Stock Up 6.0%
CRCL traded up $4.98 on Friday, reaching $88.64. The company had a trading volume of 16,675,609 shares, compared to its average volume of 14,750,424. Circle Internet Group has a 1 year low of $49.90 and a 1 year high of $159.47. The stock has a market capitalization of $22.50 billion, a PE ratio of 60.71 and a beta of 0.23. The stock has a 50-day moving average price of $69.01 and a 200-day moving average price of $86.27.
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 analysts’ consensus estimates of $0.26 by ($0.08). The firm had revenue of $701.32 million for the quarter. Circle Internet Group had a return on equity of 13.58% and a net margin of 15.53%.The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($4.48) EPS. As a group, analysts expect that Circle Internet Group will post 1.04 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Circle Internet Group news, insider Nikhil Chandhok sold 489,737 shares of the business’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $72.37, for a total value of $35,442,266.69. Following the completion of the transaction, the insider owned 521,809 shares in the company, valued at $37,763,317.33. The trade was a 48.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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. Also, insider Hossein Razzaghi sold 34,623 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $78.85, for a total value of $2,730,023.55. Following the sale, the insider directly owned 666,404 shares in the company, valued at $52,545,955.40. This represents a 4.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 2,052,639 shares of company stock worth $158,812,690 over the last three months. 10.85% of the stock is owned by insiders.
Institutional Trading of Circle Internet Group
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC grew its stake in shares of Circle Internet Group by 3,800.0% in the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after purchasing an additional 190 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of Circle Internet Group during the second quarter worth $27,000. Harbour Investments Inc. lifted its holdings in shares of 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 purchasing an additional 238 shares during the period. WPG Advisers LLC purchased a new position in Circle Internet Group in the 1st quarter valued at $31,000. Finally, First Horizon Corp purchased a new position in Circle Internet Group in the 1st quarter valued at $35,000.
Analysts Set New Price Targets
Several analysts recently weighed in on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $140.00 target price on shares of Circle Internet Group in a report on Wednesday, July 29th. KeyCorp started coverage on shares of Circle Internet Group in a report on Tuesday, May 26th. They issued a “sector weight” rating on the stock. Morgan Stanley lowered their target price on shares of Circle Internet Group from $38.00 to $37.00 and set an “underweight” rating for the company in a research note on Thursday, August 6th. Susquehanna initiated coverage on Circle Internet Group in a research note on Wednesday, July 1st. They issued a “neutral” rating and a $69.00 price target on the stock. Finally, Weiss Ratings raised Circle Internet Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $97.12.
View Our Latest Report on Circle Internet Group
Circle Internet Group Company Profile
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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