Phoenix Financial Ltd. Invests $520,000 in Circle Internet Group, Inc. $CRCL

Phoenix Financial Ltd. acquired a new position in shares of Circle Internet Group, Inc. (NYSE:CRCL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,555 shares of the company’s stock, valued at approximately $520,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. General Catalyst Group Management LLC bought a new stake in Circle Internet Group during the second quarter worth about $3,647,694,000. Vanguard Group Inc. raised its holdings in Circle Internet Group by 61.6% during 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Circle Internet Group by 98.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,575,684 shares of the company’s stock worth $204,252,000 after acquiring an additional 1,276,310 shares in the last quarter. Amova Asset Management Americas Inc. raised its holdings in Circle Internet Group by 222.1% during the third quarter. Amova Asset Management Americas Inc. now owns 1,294,079 shares of the company’s stock worth $171,453,000 after acquiring an additional 892,359 shares in the last quarter. Finally, Clear Street Group Inc. bought a new stake in Circle Internet Group during the third quarter worth about $83,785,000.

Insider Transactions at Circle Internet Group

In other Circle Internet Group news, Director M Michele Burns sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $120.15, for a total value of $1,201,500.00. Following the sale, the director owned 330,206 shares in the company, valued at $39,674,250.90. This represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajeev V. Date sold 3,819 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $115.00, for a total value of $439,185.00. Following the completion of the sale, the director owned 152,328 shares in the company, valued at $17,517,720. This represents a 2.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 618,664 shares of company stock valued at $60,410,221. Company insiders own 10.85% of the company’s stock.

Circle Internet Group Stock Down 7.8%

NYSE:CRCL opened at $114.18 on Friday. The stock’s 50 day moving average price is $106.88 and its two-hundred day moving average price is $90.16. The firm has a market capitalization of $28.18 billion and a price-to-earnings ratio of -35.68. Circle Internet Group, Inc. has a 12-month low of $49.90 and a 12-month high of $298.99.

Circle Internet Group (NYSE:CRCL) last released its quarterly earnings data on Monday, May 11th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.06). The business had revenue of $694.13 million during the quarter. Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. Equities research analysts expect that Circle Internet Group, Inc. will post 0.86 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Morgan Stanley set a $80.00 target price on Circle Internet Group in a report on Monday, April 20th. Wall Street Zen lowered Circle Internet Group from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Canaccord Genuity Group reiterated a “buy” rating and set a $160.00 target price on shares of Circle Internet Group in a report on Wednesday, March 25th. 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 report on Thursday, April 9th. Finally, Zacks Research upgraded Circle Internet Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $131.76.

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.