Commonwealth Equity Services LLC Raises Stock Holdings in Circle Internet Group, Inc. $CRCL

Commonwealth Equity Services LLC lifted its holdings in shares of Circle Internet Group, Inc. (NYSE:CRCL) by 650.6% in the 4th quarter, Holdings Channel reports. The firm owned 45,035 shares of the company’s stock after acquiring an additional 39,035 shares during the period. Commonwealth Equity Services LLC’s holdings in Circle Internet Group were worth $3,571,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CloudAlpha Capital Management Limited Hong Kong boosted its stake in Circle Internet Group by 181.1% in the third quarter. CloudAlpha Capital Management Limited Hong Kong now owns 283,964 shares of the company’s stock worth $37,648,000 after buying an additional 182,954 shares in the last quarter. Vanguard Group Inc. boosted its stake in Circle Internet Group by 61.6% in the third quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock worth $739,624,000 after buying an additional 2,126,072 shares in the last quarter. Travelers Companies Inc. purchased a new stake in Circle Internet Group in the fourth quarter worth approximately $9,557,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in Circle Internet Group by 98.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,575,684 shares of the company’s stock worth $204,252,000 after buying an additional 1,276,310 shares in the last quarter. Finally, CenterBook Partners LP boosted its stake in Circle Internet Group by 1,069.9% in the third quarter. CenterBook Partners LP now owns 66,357 shares of the company’s stock worth $8,798,000 after buying an additional 60,685 shares in the last quarter.

Analysts Set New Price Targets

CRCL has been the subject of several research reports. KeyCorp initiated coverage on Circle Internet Group in a research note on Tuesday, May 26th. They issued a “sector weight” rating for the company. Mizuho cut their target price on Circle Internet Group from $135.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday. Morgan Stanley upped their target price on Circle Internet Group from $80.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 19th. Freedom Capital raised Circle Internet Group to a “hold” rating in a research note on Tuesday, April 21st. Finally, Needham & Company LLC upped their target price on Circle Internet Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Circle Internet Group presently has a consensus rating of “Hold” and a consensus target price of $134.18.

Insider Activity at Circle Internet Group

In related news, CFO Jeremy Fox-Geen sold 7,200 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $98.04, for a total transaction of $705,888.00. Following the completion of the transaction, the chief financial officer owned 371,840 shares in the company, valued at $36,455,193.60. This represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nikhil Chandhok sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $123.08, for a total value of $1,230,800.00. Following the transaction, the insider owned 540,376 shares of the company’s stock, valued at approximately $66,509,478.08. This represents a 1.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 192,923 shares of company stock valued at $19,898,654 over the last 90 days. Company insiders own 10.85% of the company’s stock.

Circle Internet Group Stock Up 2.6%

Shares of Circle Internet Group stock opened at $82.39 on Tuesday. The company has a market cap of $20.48 billion and a PE ratio of -25.75. The business has a 50 day moving average of $102.88 and a 200 day moving average of $89.68. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $298.99.

Circle Internet Group (NYSE:CRCL) last announced its earnings results on Monday, May 11th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.06). The business had revenue of $694.13 million for the quarter. Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. On average, research analysts anticipate that Circle Internet Group, Inc. will post 1.02 earnings per share for the current year.

Circle Internet Group 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.