Comerica Bank Has $5.73 Million Position in Circle Internet Group, Inc. $CRCL

Comerica Bank lifted its stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) by 8,291.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 72,252 shares of the company’s stock after acquiring an additional 71,391 shares during the period. Comerica Bank’s holdings in Circle Internet Group were worth $5,730,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. EverSource Wealth Advisors LLC acquired a new position in shares of Circle Internet Group during the 2nd quarter valued at $27,000. PNC Financial Services Group Inc. lifted its position in shares of Circle Internet Group by 14.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,164 shares of the company’s stock valued at $154,000 after acquiring an additional 151 shares during the period. Larson Financial Group LLC lifted its position in shares of Circle Internet Group by 3,800.0% during the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after acquiring an additional 190 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Circle Internet Group during the 3rd quarter valued at $27,000. Finally, Montag A & Associates Inc. acquired a new position in shares of Circle Internet Group during the 3rd quarter valued at $33,000.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CRCL. Compass Point reiterated a “sell” rating and set a $77.00 target price (down from $79.00) on shares of Circle Internet Group in a research report on Thursday, April 9th. Freedom Capital upgraded shares of Circle Internet Group to a “hold” rating in a research report on Tuesday, April 21st. Wells Fargo & Company dropped their target price on shares of Circle Internet Group from $128.00 to $111.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. Needham & Company LLC dropped their target price on shares of Circle Internet Group from $190.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Finally, Morgan Stanley set a $80.00 target price on shares of Circle Internet Group in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $127.24.

Circle Internet Group Trading Down 4.9%

CRCL opened at $90.85 on Friday. The company’s fifty day moving average price is $100.04 and its two-hundred day moving average price is $91.18. Circle Internet Group, Inc. has a 1-year low of $49.90 and a 1-year high of $298.99. The company has a market cap of $22.42 billion and a price-to-earnings ratio of -48.84.

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

Insider Activity

In other Circle Internet Group news, Director M Michele Burns sold 80,000 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $94.88, for a total transaction of $7,590,400.00. Following the transaction, the director owned 305,230 shares in the company, valued at approximately $28,960,222.40. This represents a 20.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Patrick Sean Neville sold 30,000 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $90.00, for a total transaction of $2,700,000.00. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 555,874 shares of company stock valued at $54,031,625. 10.85% of the stock is currently owned by insiders.

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 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.