Mirae Asset Global Investments Co. Ltd. Sells 6,411 Shares of Circle Internet Group, Inc. $CRCL

Mirae Asset Global Investments Co. Ltd. decreased its holdings in Circle Internet Group, Inc. (NYSE:CRCL) by 90.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 648 shares of the company’s stock after selling 6,411 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Circle Internet Group were worth $51,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC bought a new position in shares of Circle Internet Group in the 2nd quarter valued at $27,000. Larson Financial Group LLC increased its stake in shares of Circle Internet Group by 3,800.0% in the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after purchasing an additional 190 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Circle Internet Group in the 3rd quarter valued at $27,000. Montag A & Associates Inc. bought a new position in shares of Circle Internet Group in the 3rd quarter valued at $33,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Circle Internet Group in the 3rd quarter valued at $35,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CRCL shares. Compass Point reiterated a “sell” rating and issued a $77.00 price target (down from $79.00) on shares of Circle Internet Group in a research note on Thursday, April 9th. Wall Street Zen lowered Circle Internet Group from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Mizuho boosted their price objective on Circle Internet Group from $100.00 to $120.00 and gave the stock a “neutral” rating in a research report on Friday, March 13th. Robert W. Baird boosted their price objective on Circle Internet Group from $110.00 to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 17th. Finally, JPMorgan Chase & Co. reduced their price objective on Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Circle Internet Group has a consensus rating of “Hold” and a consensus target price of $127.24.

Circle Internet Group Stock Down 1.0%

Shares of CRCL stock opened at $94.47 on Wednesday. The firm has a market capitalization of $23.32 billion and a P/E ratio of -50.79. Circle Internet Group, Inc. has a twelve month low of $49.90 and a twelve month high of $298.99. The stock’s fifty day simple moving average is $98.80 and its 200 day simple moving average is $91.15.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.18. The firm had revenue of $770.23 million for the quarter. The business’s revenue for the quarter was up 76.9% on a year-over-year basis. As a group, equities research analysts expect that Circle Internet Group, Inc. will post 0.84 EPS for the current fiscal year.

Insider Activity

In other Circle Internet Group news, CFO Jeremy Fox-Geen sold 47,908 shares of Circle Internet Group stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $90.00, for a total transaction of $4,311,720.00. Following the transaction, the chief financial officer directly owned 261,059 shares of the company’s stock, valued at approximately $23,495,310. The trade was a 15.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Heath Tarbert sold 122,007 shares of Circle Internet Group stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $94.23, for a total value of $11,496,719.61. Following the transaction, the president directly owned 599,156 shares in the company, valued at $56,458,469.88. The trade was a 16.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 555,874 shares of company stock worth $54,031,625. 10.85% of the stock is owned by corporate insiders.

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 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.