Continuum Advisory LLC Acquires Shares of 9,704 Circle Internet Group, Inc. $CRCL

Continuum Advisory LLC bought a new position in Circle Internet Group, Inc. (NYSE:CRCL) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,704 shares of the company’s stock, valued at approximately $926,000.

Other institutional investors have also recently modified their holdings of the company. Rockefeller Capital Management L.P. lifted its stake in shares of Circle Internet Group by 17.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 255,222 shares of the company’s stock worth $20,239,000 after buying an additional 38,567 shares in the last quarter. Travelers Companies Inc. purchased a new stake in shares of Circle Internet Group during the fourth quarter valued at approximately $9,557,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of 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 valued at $204,252,000 after acquiring an additional 1,276,310 shares in the last quarter. Alberta Investment Management Corp bought a new stake in shares of Circle Internet Group during the fourth quarter valued at approximately $25,027,000. Finally, Amova Asset Management Americas Inc. raised its holdings in Circle Internet Group by 222.1% in the 3rd 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 during the last quarter.

Insider Transactions at Circle Internet Group

In other Circle Internet Group news, insider Nikhil Chandhok sold 489,737 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $72.37, for a total value of $35,442,266.69. Following the transaction, the insider owned 521,809 shares of the company’s stock, valued at approximately $37,763,317.33. This represents a 48.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Patrick Sean Neville sold 1,034,396 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $82.87, for a total value of $85,720,396.52. Following the completion of the transaction, the director directly owned 2,018 shares in the company, valued at $167,231.66. The trade was a 99.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 1,895,721 shares of company stock worth $154,303,103. Company insiders own 10.85% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. HC Wainwright raised Circle Internet Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $85.00 to $150.00 in a research report on Monday, May 18th. Clear Str raised Circle Internet Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 16th. Wall Street Zen cut Circle Internet Group from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Circle Internet Group in a report on Monday, April 20th. Finally, Mizuho dropped their price objective on Circle Internet Group from $135.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Circle Internet Group has a consensus rating of “Hold” and an average target price of $121.53.

Circle Internet Group Trading Up 3.4%

Shares of CRCL stock opened at $76.07 on Tuesday. Circle Internet Group, Inc. has a 12-month low of $49.90 and a 12-month high of $262.97. The firm’s 50 day moving average is $97.88 and its 200 day moving average is $89.73. The stock has a market capitalization of $18.91 billion and a P/E ratio of -23.77.

Circle Internet Group (NYSE:CRCL) last announced its earnings results on Monday, May 11th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.06). The company had revenue of $694.13 million for the quarter. Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, equities analysts predict that Circle Internet Group, Inc. will post 1.02 earnings per share for the current year.

Circle Internet Group Company 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 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.