Circle Internet Group (NYSE:CRCL) Insider Hossein Razzaghi Sells 1,831 Shares of Company Stock

Circle Internet Group, Inc. (NYSE:CRCL) insider Hossein Razzaghi sold 1,831 shares of the company’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $73.06, for a total transaction of $133,772.86. Following the sale, the insider directly owned 637,770 shares of the company’s stock, valued at approximately $46,595,476.20. This represents a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through 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.

Hossein Razzaghi also recently made the following trade(s):

• On Friday, October 2nd, Hossein Razzaghi sold 1,830 shares of Circle Internet Group stock. The stock was sold at an average price of $85.78, for a total transaction of $156,977.40.
• On Wednesday, September 2nd, Hossein Razzaghi sold 7,458 shares of Circle Internet Group stock. The stock was sold at an average price of $87.87, for a total transaction of $655,334.46.

Circle Internet Group Trading Up 4.5%

Circle Internet Group stock traded up $3.25 on Tuesday, reaching $75.33. 8,591,297 shares of the stock were exchanged, compared to its average volume of 14,278,316. Circle Internet Group, Inc. has a twelve month low of $49.90 and a twelve month high of $140.00. The firm has a fifty day moving average price of $86.96 and a two-hundred day moving average price of $85.76. The stock has a market cap of $19.13 billion, a PE ratio of 51.60 and a beta of 0.73.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings results 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). 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 business’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($4.48) earnings per share. Equities analysts anticipate that Circle Internet Group, Inc. will post 1.12 EPS for the current fiscal year.

Institutional Trading of Circle Internet Group

Institutional investors have recently modified their holdings of the company. Allworth Financial LP raised its stake in shares of Circle Internet Group by 9.1% in the second quarter. Allworth Financial LP now owns 1,267 shares of the company’s stock valued at $79,000 after purchasing an additional 106 shares in the last quarter. GAMMA Investing LLC boosted its stake in Circle Internet Group by 28.6% during the second quarter. GAMMA Investing LLC now owns 715 shares of the company’s stock worth $45,000 after buying an additional 159 shares in the last quarter. Raiffeisen Bank International AG increased its holdings in Circle Internet Group by 0.7% in the 2nd quarter. Raiffeisen Bank International AG now owns 30,200 shares of the company’s stock valued at $1,891,000 after buying an additional 200 shares during the period. North Dakota State Investment Board increased its holdings in Circle Internet Group by 3.9% in the 3rd quarter. North Dakota State Investment Board now owns 5,477 shares of the company’s stock valued at $450,000 after buying an additional 205 shares during the period. Finally, Parkside Financial Bank & Trust raised its stake in shares of Circle Internet Group by 32.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 981 shares of the company’s stock valued at $61,000 after buying an additional 239 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CRCL shares. Seaport Research Partners set a $100.00 target price on Circle Internet Group in a report on Monday, August 17th. The Goldman Sachs Group reiterated an “underperform” rating on shares of Circle Internet Group in a report on Wednesday, September 9th. Susquehanna reissued a “neutral” rating on shares of Circle Internet Group in a research report on Tuesday, September 29th. Sanford C. Bernstein reissued an “outperform” rating and issued a $140.00 price objective on shares of Circle Internet Group in a research report on Wednesday, July 29th. Finally, Compass Point set a $62.00 price objective on shares of Circle Internet Group in a research note on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $97.94.

Circle Internet Group Company Profile

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.