Universal Beteiligungs und Servicegesellschaft mbH Invests $3.25 Million in Circle Internet Group, Inc. $CRCL

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Circle Internet Group, Inc. (NYSE:CRCL) in the third quarter, Holdings Channel reports. The institutional investor bought 24,526 shares of the company’s stock, valued at approximately $3,252,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC acquired a new stake in Circle Internet Group during the 2nd quarter valued at $673,000. Truist Financial Corp bought a new stake in shares of Circle Internet Group during the second quarter worth $218,000. PFG Investments LLC acquired a new stake in shares of Circle Internet Group in the second quarter valued at $579,000. EWA LLC acquired a new stake in shares of Circle Internet Group in the second quarter valued at $279,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Circle Internet Group in the second quarter valued at about $5,330,000.

Circle Internet Group Stock Up 4.5%

NYSE:CRCL opened at $73.13 on Thursday. Circle Internet Group, Inc. has a 12-month low of $64.00 and a 12-month high of $298.99. The stock’s fifty day simple moving average is $79.54 and its 200-day simple moving average is $119.09. The firm has a market capitalization of $17.22 billion and a P/E ratio of -31.93.

Circle Internet Group (NYSE:CRCL) last released its earnings results on Wednesday, November 12th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.44. The company had revenue of $739.76 million during the quarter. The company’s revenue for the quarter was up 65.9% on a year-over-year basis.

Insiders Place Their Bets

In related news, CEO Jeremy Allaire sold 7,055 shares of Circle Internet Group stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $90.07, for a total transaction of $635,443.85. Following the transaction, the chief executive officer owned 70,517 shares of the company’s stock, valued at $6,351,466.19. This trade represents a 9.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nikhil Chandhok sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $90.00, for a total transaction of $900,000.00. Following the transaction, the insider owned 474,974 shares of the company’s stock, valued at approximately $42,747,660. This represents a 2.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 722,089 shares of company stock worth $58,540,227 over the last ninety days.

Wall Street Analysts Forecast Growth

CRCL has been the topic of a number of research analyst reports. Wolfe Research started coverage on shares of Circle Internet Group in a report on Tuesday, December 2nd. They set an “underperform” rating and a $60.00 price objective on the stock. Mizuho set a $77.00 price target on shares of Circle Internet Group and gave the company a “neutral” rating in a research note on Wednesday. Rothschild & Co Redburn initiated coverage on Circle Internet Group in a research note on Friday, October 3rd. They issued a “neutral” rating and a $136.00 target price for the company. Needham & Company LLC decreased their price target on Circle Internet Group from $250.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Circle Internet Group in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Circle Internet Group currently has an average rating of “Hold” and a consensus target price of $139.71.

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 USD Coin (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.