Circle Internet Group (NYSE:CRCL) Stock: Insider Jeremy Fox-Geen Sells 4,238 Shares

by · The Markets Daily

Circle Internet Group, Inc. (NYSE:CRCL – Get Free Report) CFO Jeremy Fox-Geen sold 4,238 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $73.06, for a total transaction of $309,628.28. Following the transaction, the chief financial officer directly owned 294,815 shares of the company’s stock, valued at approximately $21,539,183.90. This represents a 1.42% decrease in their position. The transaction 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.

Jeremy Fox-Geen also recently made the following trade(s):

  • On Wednesday, October 21st, Jeremy Fox-Geen sold 15,000 shares of Circle Internet Group stock. The stock was sold at an average price of $90.00, for a total transaction of $1,350,000.00.
  • On Friday, October 2nd, Jeremy Fox-Geen sold 4,238 shares of Circle Internet Group stock. The stock was sold at an average price of $85.78, for a total transaction of $363,535.64.
  • On Wednesday, September 2nd, Jeremy Fox-Geen sold 8,120 shares of Circle Internet Group stock. The shares were sold at an average price of $87.87, for a total transaction of $713,504.40.
  • On Tuesday, September 1st, Jeremy Fox-Geen sold 15,000 shares of Circle Internet Group stock. The shares were sold at an average price of $92.20, for a total transaction of $1,383,000.00.
  • On Friday, August 21st, Jeremy Fox-Geen sold 45,000 shares of Circle Internet Group stock. The stock was sold at an average price of $90.00, for a total transaction of $4,050,000.00.
  • On Thursday, August 13th, Jeremy Fox-Geen sold 8,476 shares of Circle Internet Group stock. The stock was sold at an average price of $75.00, for a total transaction of $635,700.00.

Circle Internet Group Price Performance

NYSE:CRCL traded up $3.25 during trading hours on Tuesday, reaching $75.33. 8,591,297 shares of the company were exchanged, compared to its average volume of 14,278,316. The firm has a market cap of $19.13 billion, a price-to-earnings ratio of 51.60 and a beta of 0.73. The stock has a 50 day simple moving average of $86.96 and a 200 day simple moving average of $85.76. Circle Internet Group, Inc. has a 52-week low of $49.90 and a 52-week high of $140.00.

Circle Internet Group (NYSE:CRCL – Get Free Report) last announced its quarterly earnings data 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). Circle Internet Group had a net margin of 15.53% and a return on equity of 13.58%. The company had revenue of $701.32 million for the quarter. During the same period in the previous year, the company earned ($4.48) earnings per share. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts predict that Circle Internet Group, Inc. will post 1.12 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CRCL shares. Canaccord Genuity Group reduced their price objective on Circle Internet Group from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Mizuho set a $43.00 price target on shares of Circle Internet Group in a report on Monday, October 26th. Sanford C. Bernstein restated an “outperform” rating and issued a $140.00 price target on shares of Circle Internet Group in a report on Wednesday, July 29th. Wolfe Research lifted their price target on shares of Circle Internet Group from $50.00 to $65.00 and gave the company an “underperform” rating in a research report on Tuesday, August 25th. 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 note on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Circle Internet Group presently has a consensus rating of “Hold” and a consensus target price of $97.94.

Get Our Latest Stock Analysis on Circle Internet Group

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Southpoint Capital Advisors LP lifted its stake in shares of Circle Internet Group by 175.0% during the first quarter. Southpoint Capital Advisors LP now owns 3,300,000 shares of the company’s stock worth $314,853,000 after purchasing an additional 2,100,000 shares in the last quarter. SBI Holdings USA Inc. acquired a new stake in shares of Circle Internet Group in the second quarter valued at about $101,084,820. Accel XI Associates L.L.C. acquired a new stake in shares of Circle Internet Group in the second quarter valued at about $56,999,563. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Circle Internet Group by 24.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,970,939 shares of the company’s stock valued at $326,292,000 after buying an additional 785,213 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Circle Internet Group during the 2nd quarter valued at about $25,467,000.

About Circle Internet Group

(Get Free Report)

Circle Internet Group, Inc is a global financial technology company focused on digital currencies and blockchain-based payments. The company is best known for issuing USD Coin (USDC), a dollar-backed stablecoin designed to maintain a value of one U.S. dollar and support digital transactions, payments, trading and other financial applications. Circle also issues EURC, a euro-backed stablecoin.

Circle provides infrastructure and services for businesses, financial institutions and developers through products such as Circle Mint, which supports the creation, redemption and transfer of its stablecoins, as well as APIs and developer tools for integrating digital-asset payments and blockchain functionality.

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