Kestra Advisory Services LLC Acquires 10,132 Shares of Circle Internet Group, Inc. $CRCL

Kestra Advisory Services LLC raised its stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) by 102.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,001 shares of the company’s stock after buying an additional 10,132 shares during the period. Kestra Advisory Services LLC’s holdings in Circle Internet Group were worth $1,908,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRCL. Creative Planning acquired a new position in Circle Internet Group during the second quarter valued at approximately $295,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Circle Internet Group during the 2nd quarter worth $1,474,000. Invesco Ltd. bought a new stake in shares of Circle Internet Group during the 2nd quarter worth $47,640,000. EverSource Wealth Advisors LLC acquired a new position in Circle Internet Group in the 2nd quarter valued at $27,000. Finally, Baird Financial Group Inc. bought a new position in Circle Internet Group in the 2nd quarter worth $2,649,000.

Analyst Ratings Changes

A number of research firms have weighed in on CRCL. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $101.00 target price on shares of Circle Internet Group in a research report on Tuesday, May 12th. Weiss Ratings reiterated a “sell (d)” rating on shares of Circle Internet Group in a research note on Friday. Robert W. Baird cut their price objective on Circle Internet Group from $138.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Morgan Stanley increased their target price on Circle Internet Group from $80.00 to $106.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 19th. Finally, Compass Point set a $62.00 target price on Circle Internet Group in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $113.25.

Circle Internet Group Price Performance

Shares of Circle Internet Group stock opened at $65.34 on Tuesday. Circle Internet Group, Inc. has a fifty-two week low of $49.90 and a fifty-two week high of $231.88. The firm has a fifty day moving average price of $85.44 and a two-hundred day moving average price of $87.76. The company has a market cap of $16.24 billion and a PE ratio of -20.42.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $694.13 million for the quarter. The company’s quarterly revenue was up 20.0% on a year-over-year basis. Analysts expect that Circle Internet Group, Inc. will post 0.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Tamara L. Schulz sold 1,194 shares of Circle Internet Group stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $64.40, for a total transaction of $76,893.60. Following the sale, the chief accounting officer directly owned 85,871 shares of the company’s stock, valued at $5,530,092.40. This trade represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Patrick Sean Neville sold 50,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $62.65, for a total value of $3,132,500.00. Following the transaction, the director owned 2,018 shares in the company, valued at $126,427.70. This represents a 96.12% 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. Insiders have sold 1,956,527 shares of company stock valued at $155,711,921 in the last quarter. 10.85% of the stock is currently owned by insiders.

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 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.