IDG China Capital Fund GP III Associates Ltd. Acquires Shares of 1,307,711 Circle Internet Group, Inc. $CRCL

IDG China Capital Fund GP III Associates Ltd. acquired a new stake in Circle Internet Group, Inc. (NYSE:CRCL) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,307,711 shares of the company’s stock, valued at approximately $103,701,000. Circle Internet Group accounts for approximately 99.5% of IDG China Capital Fund GP III Associates Ltd.’s investment portfolio, making the stock its biggest holding. IDG China Capital Fund GP III Associates Ltd. owned about 0.56% of Circle Internet Group at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Macquarie Group Ltd. grew its holdings in Circle Internet Group by 48.1% during the 4th quarter. Macquarie Group Ltd. now owns 8,460 shares of the company’s stock valued at $671,000 after purchasing an additional 2,749 shares in the last quarter. Federation des caisses Desjardins du Quebec grew its stake in shares of Circle Internet Group by 5.4% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 5,391 shares of the company’s stock valued at $428,000 after acquiring an additional 278 shares in the last quarter. HRT Financial LP increased its position in shares of Circle Internet Group by 119.1% during the fourth quarter. HRT Financial LP now owns 321,867 shares of the company’s stock worth $25,524,000 after acquiring an additional 174,967 shares during the last quarter. Insigneo Advisory Services LLC lifted its stake in shares of Circle Internet Group by 136.4% in the fourth quarter. Insigneo Advisory Services LLC now owns 6,394 shares of the company’s stock worth $507,000 after acquiring an additional 3,689 shares in the last quarter. Finally, SkyBridge Capital II LLC purchased a new position in Circle Internet Group in the fourth quarter valued at about $53,000.

Insider Buying and Selling at Circle Internet Group

In other news, insider Nikhil Chandhok sold 26,666 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $83.75, for a total transaction of $2,233,277.50. Following the completion of the transaction, the insider directly owned 521,809 shares of the company’s stock, valued at approximately $43,701,503.75. This represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Heath Tarbert sold 39,240 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $81.47, for a total value of $3,196,882.80. Following the sale, the president owned 502,558 shares in the company, valued at $40,943,400.26. The trade was a 7.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 1,415,984 shares of company stock worth $120,091,637. 10.85% of the stock is owned by company insiders.

Circle Internet Group Price Performance

Circle Internet Group stock opened at $77.85 on Friday. The company has a market cap of $19.35 billion and a PE ratio of -24.33. The company has a fifty day moving average price of $101.91 and a two-hundred day moving average price of $89.84. Circle Internet Group, Inc. has a 12 month low of $49.90 and a 12 month high of $298.99.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on CRCL shares. Zacks Research upgraded Circle Internet Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. Wells Fargo & Company increased their target price on Circle Internet Group from $111.00 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Mizuho decreased their price target on shares of Circle Internet Group from $135.00 to $85.00 and set a “neutral” rating for the company in a research report on Friday, June 5th. Needham & Company LLC lifted their price target on shares of Circle Internet Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $160.00 price objective on shares of Circle Internet Group in a research note on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $134.18.

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.