Cynosure Group LLC Acquires Shares of 343,129 Circle Internet Group, Inc. $CRCL

Cynosure Group LLC acquired a new stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 343,129 shares of the company’s stock, valued at approximately $27,210,000. Circle Internet Group comprises about 1.3% of Cynosure Group LLC’s investment portfolio, making the stock its 10th biggest holding.

Several other institutional investors have also added to or reduced their stakes in CRCL. General Catalyst Group Management LLC purchased a new stake in Circle Internet Group during the second quarter valued at about $3,647,694,000. IDG Accel China Capital II Associates L.P. bought a new stake in shares of Circle Internet Group during the fourth quarter valued at about $554,792,000. Accel XI Associates L.L.C. bought a new stake in shares of Circle Internet Group during the fourth quarter valued at about $513,844,000. Vanguard Group Inc. increased its position in shares of Circle Internet Group by 61.6% during the third quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock valued at $739,624,000 after buying an additional 2,126,072 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of Circle Internet Group during the fourth quarter valued at about $163,948,000.

Insider Buying and Selling

In related news, President Heath Tarbert sold 39,240 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $81.47, for a total value of $3,196,882.80. Following the transaction, the president directly owned 502,558 shares in the company, valued at approximately $40,943,400.26. This represents a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jeremy Allaire sold 56,200 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $82.93, for a total transaction of $4,660,666.00. Following the completion of the transaction, the chief executive officer owned 510,579 shares in the company, valued at approximately $42,342,316.47. This trade represents a 9.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,415,984 shares of company stock valued at $120,091,637 in the last 90 days. 10.85% of the stock is owned by company insiders.

Circle Internet Group Trading Up 6.9%

CRCL stock opened at $83.23 on Tuesday. The company’s 50 day moving average is $101.77 and its 200 day moving average is $90.06. The stock has a market cap of $20.69 billion and a price-to-earnings ratio of -26.01. Circle Internet Group, Inc. has a 1-year low of $49.90 and a 1-year high of $298.99.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.06). The company had revenue of $694.13 million during the quarter. Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.The company’s revenue was up 20.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Circle Internet Group, Inc. will post 1.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CRCL. HC Wainwright upgraded Circle Internet Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $85.00 to $150.00 in a research report on Monday, May 18th. Needham & Company LLC upped their price target on Circle Internet Group from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Wall Street Zen cut Circle Internet Group from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. Morgan Stanley upped their price target on Circle Internet Group from $80.00 to $106.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 19th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Circle Internet Group in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $134.18.

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 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.