Jupiter Asset Management Ltd. Invests $5.06 Million in Circle Internet Group, Inc. $CRCL

Jupiter Asset Management Ltd. acquired a new position in shares of Circle Internet Group, Inc. (NYSE:CRCL) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 38,140 shares of the company’s stock, valued at approximately $5,057,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Pilgrim Partners Asia Pte Ltd bought a new stake in Circle Internet Group in the 3rd quarter valued at approximately $27,000. EverSource Wealth Advisors LLC bought a new position in shares of Circle Internet Group during the 2nd quarter worth approximately $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Circle Internet Group in the third quarter valued at approximately $32,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Circle Internet Group in the third quarter worth $35,000. Finally, Allworth Financial LP bought a new stake in shares of Circle Internet Group in the second quarter worth $37,000.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CRCL shares. Needham & Company LLC decreased their target price on shares of Circle Internet Group from $250.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Wolfe Research initiated coverage on Circle Internet Group in a report on Tuesday, December 2nd. They issued an “underperform” rating and a $60.00 price objective for the company. Monness Crespi & Hardt began coverage on Circle Internet Group in a research report on Monday, November 10th. They issued a “buy” rating and a $150.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating for the company in a research report on Tuesday, February 10th. Finally, Morgan Stanley assumed coverage on Circle Internet Group in a research note on Monday, February 2nd. They issued an “equal weight” rating and a $66.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have assigned 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.

Insider Transactions at Circle Internet Group

In related news, insider Nikhil Chandhok sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider directly owned 474,974 shares of the company’s stock, valued at approximately $42,747,660. The trade was a 2.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Heath Tarbert sold 3,048 shares of the firm’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $90.02, for a total value of $274,380.96. Following the sale, the president directly owned 579,302 shares of the company’s stock, valued at $52,148,766.04. This represents a 0.52% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 353,016 shares of company stock valued at $27,791,982.

Circle Internet Group Stock Performance

Shares of CRCL stock opened at $63.07 on Friday. Circle Internet Group, Inc. has a 52-week low of $49.90 and a 52-week high of $298.99. The stock has a market cap of $14.85 billion and a price-to-earnings ratio of -27.54. The firm’s 50-day moving average is $72.74 and its 200-day moving average is $102.94.

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.