7,125 Shares in Circle Internet Group, Inc. $CRCL Purchased by State of Michigan Retirement System

State of Michigan Retirement System bought a new position in Circle Internet Group, Inc. (NYSE:CRCL) during the 4th quarter, Holdings Channel reports. The fund bought 7,125 shares of the company’s stock, valued at approximately $565,000.

Several other large investors also recently modified their holdings of the business. EverSource Wealth Advisors LLC bought a new stake in shares of Circle Internet Group in the second quarter worth about $27,000. PNC Financial Services Group Inc. grew its stake in shares of Circle Internet Group by 14.9% in the third quarter. PNC Financial Services Group Inc. now owns 1,164 shares of the company’s stock worth $154,000 after purchasing an additional 151 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Circle Internet Group by 3,800.0% in the third quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock worth $26,000 after purchasing an additional 190 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Circle Internet Group in the third quarter worth about $27,000. Finally, Montag A & Associates Inc. bought a new stake in shares of Circle Internet Group in the third quarter worth about $33,000.

Insiders Place Their Bets

In other news, Director M Michele Burns sold 1,666 shares of Circle Internet Group stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $92.38, for a total transaction of $153,905.08. Following the completion of the transaction, the director directly owned 341,872 shares in the company, valued at approximately $31,582,135.36. This trade represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Fox-Geen sold 4,238 shares of Circle Internet Group stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $90.00, for a total transaction of $381,420.00. Following the transaction, the chief financial officer owned 363,726 shares of the company’s stock, valued at $32,735,340. The trade was a 1.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 555,874 shares of company stock valued at $54,031,625 over the last ninety days. 10.85% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CRCL has been the topic of several recent analyst reports. Mizuho raised their target price on Circle Internet Group from $100.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, March 13th. Needham & Company LLC cut their target price on Circle Internet Group from $190.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Clear Str upgraded shares of Circle Internet Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 16th. Compass Point restated a “sell” rating and issued a $77.00 price objective (down from $79.00) on shares of Circle Internet Group in a report on Thursday, April 9th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Circle Internet Group in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Circle Internet Group has a consensus rating of “Hold” and an average price target of $127.24.

Circle Internet Group Price Performance

Shares of CRCL opened at $99.90 on Monday. Circle Internet Group, Inc. has a one year low of $49.90 and a one year high of $298.99. The company has a 50-day simple moving average of $100.04 and a two-hundred day simple moving average of $90.55. The firm has a market capitalization of $24.66 billion and a PE ratio of -53.71.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.25 by $0.18. The company had revenue of $770.23 million during the quarter. The firm’s revenue for the quarter was up 76.9% compared to the same quarter last year. Analysts expect that Circle Internet Group, Inc. will post 0.84 EPS for the current fiscal year.

Circle Internet Group Company Profile

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.