Knollwood Investment Advisory LLC Takes $4.24 Million Position in Circle Internet Group, Inc. $CRCL

Knollwood Investment Advisory LLC purchased a new stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 53,477 shares of the company’s stock, valued at approximately $4,241,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC bought a new position in shares of Circle Internet Group during the 2nd quarter valued at $27,000. Larson Financial Group LLC lifted its holdings 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 buying an additional 190 shares during the period. Montag A & Associates Inc. bought a new position in shares of Circle Internet Group during the 3rd quarter valued at $33,000. National Bank of Canada FI bought a new position in shares of Circle Internet Group during the 3rd quarter valued at $37,000. Finally, Pin Oak Investment Advisors Inc. bought a new position in shares of Circle Internet Group during the 3rd quarter valued at $39,000.

Circle Internet Group Stock Performance

Shares of Circle Internet Group stock opened at $77.85 on Friday. Circle Internet Group, Inc. has a one year low of $49.90 and a one year high of $298.99. The stock’s fifty day moving average is $101.91 and its 200 day moving average is $89.84. The stock has a market cap of $19.35 billion and a P/E ratio of -24.33.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on CRCL shares. Wall Street Zen cut Circle Internet Group from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Mizuho decreased their target price on Circle Internet Group from $135.00 to $85.00 and set a “neutral” rating on the stock in a report on Friday, June 5th. Freedom Capital raised Circle Internet Group to a “hold” rating in a report on Tuesday, April 21st. Needham & Company LLC raised their target price on Circle Internet Group from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Wells Fargo & Company raised their target price on Circle Internet Group from $111.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $134.18.

Insider Buying and Selling at Circle Internet Group

In other Circle Internet Group news, Director Rajeev V. Date sold 1,273 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $85.00, for a total transaction of $108,205.00. Following the sale, the director directly owned 154,346 shares of the company’s stock, valued at $13,119,410. This trade represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Heath Tarbert sold 39,240 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $81.47, for a total value of $3,196,882.80. Following the sale, the president directly owned 502,558 shares in the company, valued at approximately $40,943,400.26. This represents a 7.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,415,984 shares of company stock valued at $120,091,637. 10.85% of the stock is currently owned by corporate insiders.

Circle Internet Group 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.