Mirae Asset Global Investments Co. Ltd. Sells 22,339 Shares of Circle Internet Group, Inc. $CRCL

Mirae Asset Global Investments Co. Ltd. trimmed its position in Circle Internet Group, Inc. (NYSE:CRCL) by 76.0% in the 3rd quarter, Holdings Channel reports. The firm owned 7,059 shares of the company’s stock after selling 22,339 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Circle Internet Group were worth $936,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CRCL. Truist Financial Corp bought a new stake in Circle Internet Group during the second quarter valued at $218,000. Gainplan LLC bought a new stake in shares of Circle Internet Group during the 2nd quarter valued at about $906,000. Liberty Street Advisors Inc. purchased a new position in shares of Circle Internet Group during the second quarter worth about $52,610,000. Castle Rock Wealth Management LLC bought a new position in shares of Circle Internet Group in the second quarter worth approximately $1,402,000. Finally, Vontobel Holding Ltd. purchased a new stake in Circle Internet Group in the second quarter valued at approximately $289,000.

Insider Buying and Selling at Circle Internet Group

In related news, President Heath Tarbert sold 3,048 shares of the firm’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $90.02, for a total value of $274,380.96. Following the sale, the president directly owned 579,302 shares of the company’s stock, valued at $52,148,766.04. This trade represents a 0.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeremy Allaire sold 7,055 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $90.07, for a total value of $635,443.85. Following the transaction, the chief executive officer owned 70,517 shares in the company, valued at approximately $6,351,466.19. This represents a 9.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 723,616 shares of company stock worth $58,631,542 over the last ninety days.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CRCL shares. Needham & Company LLC decreased their price target on shares of Circle Internet Group from $250.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Wolfe Research started coverage on Circle Internet Group in a research note on Tuesday, December 2nd. They issued an “underperform” rating and a $60.00 target price on the stock. Sanford C. Bernstein set a $190.00 price target on Circle Internet Group in a research note on Tuesday, January 6th. Monness Crespi & Hardt initiated coverage on Circle Internet Group in a research report on Monday, November 10th. They set a “buy” rating and a $150.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Circle Internet Group from $147.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $132.56.

Circle Internet Group Price Performance

Shares of CRCL stock opened at $54.90 on Thursday. The business has a 50-day moving average of $78.50 and a 200 day moving average of $113.57. Circle Internet Group, Inc. has a 1-year low of $51.52 and a 1-year high of $298.99. The stock has a market capitalization of $12.93 billion and a PE ratio of -23.97.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings data 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 firm’s quarterly revenue was up 65.9% on a year-over-year basis.

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.