Franklin Resources Inc. Makes New $45.32 Million Investment in Circle Internet Group, Inc. $CRCL

Franklin Resources Inc. purchased a new stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 250,000 shares of the company’s stock, valued at approximately $45,322,000.

Other institutional investors have also recently modified their holdings of the company. North Star Investment Management Corp. purchased a new stake in Circle Internet Group in the second quarter valued at approximately $34,000. Hennessy Advisors Inc. acquired a new stake in Circle Internet Group during the 2nd quarter valued at approximately $36,000. Allworth Financial LP purchased a new stake in shares of Circle Internet Group in the 2nd quarter valued at $37,000. Chilton Capital Management LLC acquired a new stake in shares of Circle Internet Group in the second quarter worth $40,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in shares of Circle Internet Group during the second quarter worth $52,000.

Circle Internet Group Stock Down 4.0%

NYSE CRCL opened at $69.83 on Wednesday. The business has a 50-day simple moving average of $119.43. Circle Internet Group, Inc. has a twelve month low of $64.00 and a twelve month high of $298.99.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.44. The business had revenue of $739.76 million during the quarter. Circle Internet Group’s revenue was up 65.9% compared to the same quarter last year.

Insider Buying and Selling

In other Circle Internet Group news, Director Patrick Sean Neville sold 33,569 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $85.05, for a total transaction of $2,855,043.45. Following the completion of the transaction, the director directly owned 33,568 shares in the company, valued at approximately $2,854,958.40. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Danita K. Ostling sold 2,662 shares of the stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $84.69, for a total transaction of $225,444.78. Following the transaction, the director directly owned 26,290 shares in the company, valued at approximately $2,226,500.10. The trade was a 9.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 551,455 shares of company stock valued at $45,564,337.

Analysts Set New Price Targets

Several equities research analysts have commented on CRCL shares. JMP Securities started coverage on shares of Circle Internet Group in a report on Tuesday, September 30th. They issued a “market perform” rating on the stock. The Goldman Sachs Group lowered their target price on Circle Internet Group from $92.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday. William Blair reiterated an “outperform” rating on shares of Circle Internet Group in a research report on Wednesday, November 12th. Canaccord Genuity Group reissued a “buy” rating and issued a $247.00 price target on shares of Circle Internet Group in a report on Thursday, September 11th. Finally, JPMorgan Chase & Co. upgraded Circle Internet Group from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $94.00 to $100.00 in a research report on Thursday, November 13th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $150.33.

Circle Internet Group Company Profile

Founded in 2013, Circle’s mission is to raise global economic prosperity through the frictionless exchange of value. We intend to connect the world more deeply by building a new global economic system on the foundation of the internet, and to facilitate the creation of a world where everyone, everywhere can share value as easily as we can today share information, content, and communications.