CenterBook Partners LP Purchases 60,685 Shares of Circle Internet Group, Inc. $CRCL

CenterBook Partners LP boosted its holdings in shares of Circle Internet Group, Inc. (NYSE:CRCL) by 1,069.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,357 shares of the company’s stock after purchasing an additional 60,685 shares during the quarter. CenterBook Partners LP’s holdings in Circle Internet Group were worth $8,798,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CRCL. Vanguard Group Inc. grew its stake in shares of 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 acquiring an additional 2,126,072 shares during the last quarter. Fifth Third Bancorp acquired a new stake in Circle Internet Group in the 3rd quarter worth $74,000. PNC Financial Services Group Inc. increased its holdings in shares of Circle Internet Group by 14.9% during the 3rd 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 period. HighTower Advisors LLC increased its holdings in shares of Circle Internet Group by 763.2% during the 3rd quarter. HighTower Advisors LLC now owns 36,703 shares of the company’s stock worth $4,866,000 after purchasing an additional 32,451 shares during the period. Finally, Peregrine Investment Management Inc. acquired a new position in shares of Circle Internet Group during the third quarter valued at about $13,258,000.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CRCL shares. HC Wainwright assumed coverage on Circle Internet Group in a report on Friday, December 19th. They issued a “neutral” rating and a $85.00 price target for the company. Wells Fargo & Company lowered their target price on shares of Circle Internet Group from $160.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday, November 13th. JPMorgan Chase & Co. reduced their target price on shares of Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 10th. Monness Crespi & Hardt initiated coverage on shares of Circle Internet Group in a report on Monday, November 10th. They set a “buy” rating and a $150.00 price target for the company. Finally, Compass Point upgraded shares of Circle Internet Group from a “sell” rating to a “neutral” rating and set a $75.00 price target on the stock in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $131.76.

Insider Activity at Circle Internet Group

In other Circle Internet Group news, CAO Tamara L. Schulz sold 1,527 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $59.80, for a total value of $91,314.60. Following the transaction, the chief accounting officer directly owned 98,010 shares of the company’s stock, valued at approximately $5,860,998. This trade represents a 1.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nikhil Chandhok sold 10,000 shares of Circle Internet Group stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $90.00, for a total transaction of $900,000.00. Following the sale, the insider directly owned 474,974 shares of the company’s stock, valued at $42,747,660. This represents a 2.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 360,016 shares of company stock worth $28,288,252 over the last 90 days.

Circle Internet Group Stock Up 2.7%

Shares of CRCL opened at $61.64 on Wednesday. The stock’s fifty day simple moving average is $74.18 and its 200-day simple moving average is $104.58. The firm has a market capitalization of $14.51 billion and a PE ratio of -26.92. Circle Internet Group, Inc. has a 12-month low of $49.90 and a 12-month high of $298.99.

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 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.