48,659 Shares in Circle Internet Group, Inc. $CRCL Bought by Stevens Capital Management LP

Stevens Capital Management LP bought a new position in shares of Circle Internet Group, Inc. (NYSE:CRCL) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 48,659 shares of the company’s stock, valued at approximately $6,451,000. Circle Internet Group accounts for approximately 0.9% of Stevens Capital Management LP’s investment portfolio, making the stock its 29th biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. General Catalyst Group Management LLC acquired a new position in shares of Circle Internet Group in the 2nd quarter valued at about $3,647,694,000. Marshall Wace LLP purchased a new position in Circle Internet Group in the 2nd quarter valued at about $1,547,214,000. Vanguard Group Inc. boosted 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. Sumitomo Mitsui Trust Group Inc. boosted its stake in Circle Internet Group by 282.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,299,374 shares of the company’s stock worth $172,271,000 after purchasing an additional 959,309 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Circle Internet Group during the second quarter worth about $73,101,000.

Insiders Place Their Bets

In related news, President Heath Tarbert sold 3,048 shares of the stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $90.02, for a total transaction of $274,380.96. Following the completion of the sale, the president owned 579,302 shares in the company, valued at $52,148,766.04. This represents a 0.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Tamara L. Schulz sold 1,527 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $59.80, for a total transaction of $91,314.60. Following the sale, the chief accounting officer owned 98,010 shares of the company’s stock, valued at $5,860,998. This trade represents a 1.53% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 353,016 shares of company stock worth $27,791,982.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CRCL. William Blair reissued an “outperform” rating on shares of Circle Internet Group in a research note on Wednesday, November 12th. JPMorgan Chase & Co. dropped their target price on shares of Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, February 10th. Wall Street Zen cut Circle Internet Group from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Mizuho set a $77.00 price objective on Circle Internet Group and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Finally, Zacks Research cut shares of Circle Internet Group from a “hold” rating to a “strong sell” rating in a report on Monday, February 16th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $131.76.

Circle Internet Group Trading Up 1.9%

CRCL stock opened at $63.07 on Friday. Circle Internet Group, Inc. has a twelve month low of $49.90 and a twelve month high of $298.99. The stock has a market cap of $14.85 billion and a P/E ratio of -27.54. The company’s 50 day moving average is $72.74 and its two-hundred day moving average is $103.29.

Circle Internet Group 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.