SteelPeak Wealth LLC Buys Shares of 11,504 Circle Internet Group, Inc. $CRCL

SteelPeak Wealth LLC purchased a new position in shares of Circle Internet Group, Inc. (NYSE:CRCL) in the third quarter, Holdings Channel.com reports. The fund purchased 11,504 shares of the company’s stock, valued at approximately $1,525,000.

Other large investors have also bought and sold shares of the company. General Catalyst Group Management LLC bought a new position in Circle Internet Group in the second quarter valued at about $3,647,694,000. Marshall Wace LLP bought a new stake in shares of Circle Internet Group during the 2nd quarter valued at approximately $1,547,214,000. ARK Investment Management LLC acquired a new position in Circle Internet Group during the 2nd quarter worth approximately $530,165,000. Squarepoint Ops LLC bought a new position in Circle Internet Group in the 2nd quarter valued at approximately $73,101,000. Finally, Nikko Asset Management Americas Inc. acquired a new stake in Circle Internet Group in the second quarter valued at approximately $72,486,000.

Circle Internet Group Stock Up 5.1%

Shares of CRCL opened at $83.34 on Friday. The stock’s 50-day moving average price is $89.14 and its two-hundred day moving average price is $134.93. Circle Internet Group, Inc. has a 12 month low of $64.00 and a 12 month high of $298.99.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.44. The company had revenue of $739.76 million for the quarter. The firm’s quarterly revenue was up 65.9% compared to the same quarter last year.

Insider Buying and Selling at Circle Internet Group

In other Circle Internet Group news, CFO Jeremy Fox-Geen sold 23,830 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $90.00, for a total transaction of $2,144,700.00. Following the completion of the transaction, the chief financial officer owned 282,173 shares in the company, valued at approximately $25,395,570. This trade represents a 7.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeremy Allaire sold 7,055 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $90.07, for a total transaction of $635,443.85. Following the completion of the transaction, the chief executive officer owned 70,517 shares in the company, valued at $6,351,466.19. This trade represents a 9.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 717,651 shares of company stock worth $58,162,154.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CRCL. Citigroup began coverage on shares of Circle Internet Group in a report on Tuesday, September 30th. They set a “market perform” rating for the company. Monness Crespi & Hardt started coverage on Circle Internet Group in a report on Monday, November 10th. They issued a “buy” rating and a $150.00 target price for the company. Needham & Company LLC cut their price target on Circle Internet Group from $250.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Rothschild & Co Redburn assumed coverage on Circle Internet Group in a report on Friday, October 3rd. They set a “neutral” rating and a $136.00 price target on the stock. Finally, JPMorgan Chase & Co. raised Circle Internet Group from an “underweight” rating to an “overweight” rating and upped their price objective for the company from $94.00 to $100.00 in a research note on Thursday, November 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $141.18.

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 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.