Circle Internet Group (NYSE:CRCL) CAO Tamara Schulz Sells 1,194 Shares

Circle Internet Group, Inc. (NYSE:CRCL) CAO Tamara Schulz sold 1,194 shares of Circle Internet Group stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $64.40, for a total value of $76,893.60. Following the sale, the chief accounting officer directly owned 85,871 shares in the company, valued at $5,530,092.40. The trade was a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 Price Performance

Shares of CRCL traded up $2.61 during mid-day trading on Thursday, reaching $64.56. The company had a trading volume of 17,677,699 shares, compared to its average volume of 15,297,530. The company has a market capitalization of $16.05 billion and a P/E ratio of -20.17. Circle Internet Group, Inc. has a twelve month low of $49.90 and a twelve month high of $262.97. The company’s 50-day moving average is $96.14 and its 200-day moving average is $89.36.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates 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 company’s revenue was up 20.0% compared to the same quarter last year. As a group, equities analysts expect that Circle Internet Group, Inc. will post 1.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Circle Internet Group

Several hedge funds have recently added to or reduced their stakes in CRCL. Rockefeller Capital Management L.P. raised its holdings in shares of Circle Internet Group by 17.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 255,222 shares of the company’s stock valued at $20,239,000 after purchasing an additional 38,567 shares during the period. Travelers Companies Inc. bought a new stake in shares of Circle Internet Group in the 4th quarter worth $9,557,000. Sumitomo Mitsui Trust Group Inc. grew its position in Circle Internet Group by 98.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,575,684 shares of the company’s stock worth $204,252,000 after purchasing an additional 1,276,310 shares in the last quarter. Alberta Investment Management Corp purchased a new stake in Circle Internet Group in the 4th quarter valued at about $25,027,000. Finally, Amova Asset Management Americas Inc. lifted its position in shares of Circle Internet Group by 222.1% during the 3rd quarter. Amova Asset Management Americas Inc. now owns 1,294,079 shares of the company’s stock worth $171,453,000 after buying an additional 892,359 shares in the last quarter.

Analyst Ratings Changes

Several analysts have recently weighed in on CRCL shares. William Blair reaffirmed an “outperform” rating on shares of Circle Internet Group in a report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $101.00 price target on shares of Circle Internet Group in a report on Tuesday, May 12th. Wall Street Zen lowered Circle Internet Group from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Susquehanna started coverage on Circle Internet Group in a research note on Wednesday. They issued a “neutral” rating and a $69.00 target price for the company. Finally, HC Wainwright upgraded shares of Circle Internet Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $85.00 to $150.00 in a research report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $117.38.

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.