Insider Selling: Circle Internet Group (NYSE:CRCL) Director Sells $158,472.00 in Stock

Circle Internet Group, Inc. (NYSE:CRCL) Director Danita Ostling sold 1,200 shares of Circle Internet Group stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $132.06, for a total transaction of $158,472.00. Following the completion of the sale, the director directly owned 22,590 shares of the company’s stock, valued at approximately $2,983,235.40. This trade represents a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Circle Internet Group Trading Down 7.8%

CRCL opened at $114.18 on Friday. Circle Internet Group, Inc. has a 1-year low of $49.90 and a 1-year high of $298.99. The company has a market cap of $28.18 billion and a P/E ratio of -35.68. The company has a fifty day moving average price of $106.88 and a two-hundred day moving average price of $90.16.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.06). Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The company had revenue of $694.13 million during the quarter. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. On average, research analysts forecast that Circle Internet Group, Inc. will post 0.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CRCL. General Catalyst Group Management LLC acquired a new position in shares of Circle Internet Group during the second quarter valued at about $3,647,694,000. IDG Accel China Capital II Associates L.P. purchased a new position in Circle Internet Group during the fourth quarter worth about $554,792,000. Accel XI Associates L.L.C. purchased a new position in Circle Internet Group during the fourth quarter worth about $513,844,000. Vanguard Group Inc. boosted its holdings in Circle Internet Group by 61.6% during the third quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock worth $739,624,000 after purchasing an additional 2,126,072 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Circle Internet Group during the fourth quarter worth about $163,948,000.

Analyst Ratings Changes

CRCL has been the subject of several research analyst reports. Mizuho lifted their price target on shares of Circle Internet Group from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday. Robert W. Baird lifted their price objective on shares of Circle Internet Group from $110.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday, March 17th. Wall Street Zen cut shares of Circle Internet Group from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Canaccord Genuity Group reiterated a “buy” rating and set a $160.00 price objective on shares of Circle Internet Group in a report on Wednesday, March 25th. Finally, Compass Point reiterated a “sell” rating and set a $77.00 price objective (down from $79.00) on shares of Circle Internet Group in a report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $131.76.

About Circle Internet Group

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.