Commonwealth Equity Services LLC Acquires 39,035 Shares of Circle Internet Group, Inc. $CRCL

Commonwealth Equity Services LLC lifted its holdings in shares of Circle Internet Group, Inc. (NYSE:CRCL) by 650.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,035 shares of the company’s stock after purchasing an additional 39,035 shares during the period. Commonwealth Equity Services LLC’s holdings in Circle Internet Group were worth $3,571,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CRCL. General Catalyst Group Management LLC bought a new stake in shares of Circle Internet Group during the 2nd quarter worth $3,647,694,000. Accel XI Associates L.L.C. bought a new stake in Circle Internet Group in the 4th quarter valued at about $513,844,000. Vanguard Group Inc. raised its stake in Circle Internet Group by 61.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company’s stock valued at $739,624,000 after acquiring an additional 2,126,072 shares during the period. Renaissance Technologies LLC bought a new stake in Circle Internet Group in the 4th quarter valued at about $163,948,000. Finally, SBI Holdings USA Inc. bought a new stake in Circle Internet Group in the 4th quarter valued at about $127,990,000.

Insider Activity at Circle Internet Group

In other news, CFO Jeremy Fox-Geen sold 7,200 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $98.04, for a total transaction of $705,888.00. Following the completion of the transaction, the chief financial officer owned 371,840 shares of the company’s stock, valued at approximately $36,455,193.60. The trade was a 1.90% decrease in their ownership of the stock. The sale was disclosed in a document filed 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. Also, Director Patrick Sean Neville sold 30,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $98.04, for a total value of $2,941,200.00. Following the transaction, the director directly owned 30,000 shares of the company’s stock, valued at $2,941,200. The trade was a 50.00% 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. Insiders have sold 192,923 shares of company stock valued at $19,898,654 in the last ninety days. Insiders own 10.85% of the company’s stock.

Circle Internet Group Stock Up 2.6%

CRCL stock opened at $82.39 on Tuesday. The firm has a market capitalization of $20.48 billion and a PE ratio of -25.75. Circle Internet Group, Inc. has a twelve month low of $49.90 and a twelve month high of $298.99. The stock has a 50-day simple moving average of $102.88 and a two-hundred day simple moving average of $89.68.

Circle Internet Group (NYSE:CRCL) last posted 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). Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The company had revenue of $694.13 million for the quarter. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, equities research analysts anticipate that Circle Internet Group, Inc. will post 1.02 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Morgan Stanley boosted their price objective on Circle Internet Group from $80.00 to $106.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 19th. KeyCorp assumed coverage on Circle Internet Group in a research note on Tuesday, May 26th. They issued a “sector weight” rating on the stock. Wells Fargo & Company boosted their price objective on Circle Internet Group from $111.00 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Needham & Company LLC boosted their price objective on Circle Internet Group from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Finally, Freedom Capital upgraded Circle Internet Group to a “hold” rating in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $134.18.

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.