CloudAlpha Capital Management Limited Hong Kong Increases Stake in Circle Internet Group, Inc. $CRCL

CloudAlpha Capital Management Limited Hong Kong grew its holdings in shares of Circle Internet Group, Inc. (NYSE:CRCL) by 181.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 283,964 shares of the company’s stock after buying an additional 182,954 shares during the period. Circle Internet Group comprises approximately 1.4% of CloudAlpha Capital Management Limited Hong Kong’s holdings, making the stock its 13th biggest position. CloudAlpha Capital Management Limited Hong Kong’s holdings in Circle Internet Group were worth $37,648,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. General Catalyst Group Management LLC purchased a new position in shares of Circle Internet Group in the second quarter worth about $3,647,694,000. Marshall Wace LLP purchased a new stake in Circle Internet Group during the 2nd quarter valued at about $1,547,214,000. ARK Investment Management LLC acquired a new stake in Circle Internet Group in the 2nd quarter valued at about $530,165,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in Circle Internet Group by 282.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,299,374 shares of the company’s stock worth $172,271,000 after purchasing an additional 959,309 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Circle Internet Group during the 2nd quarter worth approximately $73,101,000.

Insider Activity at Circle Internet Group

In other news, CFO Jeremy Fox-Geen sold 23,830 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $90.00, for a total value of $2,144,700.00. Following the transaction, the chief financial officer directly owned 282,173 shares in the company, valued at approximately $25,395,570. This represents a 7.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Nikhil Chandhok sold 100,000 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $77.08, for a total transaction of $7,708,000.00. Following the transaction, the insider directly owned 493,639 shares of the company’s stock, valued at $38,049,694.12. The trade was a 16.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 723,616 shares of company stock worth $58,631,542.

Analyst Upgrades and Downgrades

CRCL has been the subject of several recent research reports. William Blair reaffirmed an “outperform” rating on shares of Circle Internet Group in a report on Wednesday, November 12th. Wolfe Research initiated coverage on Circle Internet Group in a report on Tuesday, December 2nd. They issued an “underperform” rating and a $60.00 target price for the company. JPMorgan Chase & Co. raised Circle Internet Group from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $94.00 to $100.00 in a research note on Thursday, November 13th. Needham & Company LLC lowered their price target on shares of Circle Internet Group from $250.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Finally, Sanford C. Bernstein set a $190.00 price objective on shares of Circle Internet Group in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Circle Internet Group presently has a consensus rating of “Hold” and an average target price of $132.35.

Circle Internet Group Stock Up 5.3%

CRCL stock opened at $60.07 on Tuesday. 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 $14.15 billion and a price-to-earnings ratio of -26.23. The business has a fifty day moving average of $77.25 and a two-hundred day moving average of $109.84.

Circle Internet Group (NYSE:CRCL) last released its quarterly earnings results on Wednesday, November 12th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.44. The business had revenue of $739.76 million for the quarter. Circle Internet Group’s revenue was up 65.9% compared to the same quarter last 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 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.