Mirae Asset Global Investments Co. Ltd. Sells 22,339 Shares of Circle Internet Group, Inc. $CRCL

Mirae Asset Global Investments Co. Ltd. decreased its position in shares of Circle Internet Group, Inc. (NYSE:CRCL) by 76.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,059 shares of the company’s stock after selling 22,339 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Circle Internet Group were worth $936,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. General Catalyst Group Management LLC acquired a new stake in Circle Internet Group in the 2nd quarter valued at $3,647,694,000. Marshall Wace LLP acquired a new position in Circle Internet Group during the second quarter worth $1,547,214,000. ARK Investment Management LLC bought a new position in shares of Circle Internet Group in the second quarter valued at $530,165,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Circle Internet Group by 282.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,299,374 shares of the company’s stock valued at $172,271,000 after buying an additional 959,309 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Circle Internet Group during the second quarter valued at about $73,101,000.

Insider Transactions at Circle Internet Group

In related news, Director Rajeev V. Date sold 190,867 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $83.58, for a total value of $15,952,663.86. Following the sale, the director directly owned 127,247 shares in the company, valued at approximately $10,635,304.26. The trade was a 60.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jeremy Fox-Geen sold 23,830 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $90.00, for a total transaction of $2,144,700.00. Following the transaction, the chief financial officer owned 282,173 shares of the company’s stock, valued at $25,395,570. This represents a 7.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 723,616 shares of company stock worth $58,631,542 over the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CRCL shares. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Circle Internet Group from $147.00 to $90.00 and set a “hold” rating on the stock in a research report on Thursday, November 13th. William Blair restated an “outperform” rating on shares of Circle Internet Group in a report on Wednesday, November 12th. Monness Crespi & Hardt began coverage on Circle Internet Group in a research report on Monday, November 10th. They set a “buy” rating and a $150.00 target price on the stock. Wells Fargo & Company lowered their price target on Circle Internet Group from $160.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, November 13th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $132.56.

Circle Internet Group Stock Performance

Shares of CRCL stock opened at $54.90 on Thursday. The firm has a market cap of $12.93 billion and a price-to-earnings ratio of -23.97. Circle Internet Group, Inc. has a 52 week low of $51.52 and a 52 week high of $298.99. The firm’s 50-day simple moving average is $78.50 and its two-hundred day simple moving average is $113.57.

Circle Internet Group (NYSE:CRCL) last released its earnings results on Wednesday, November 12th. The company reported $0.64 earnings per share for the quarter, beating 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.

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.