Quadrature Capital Ltd Makes New Investment in Circle Internet Group, Inc. $CRCL

Quadrature Capital Ltd acquired a new position in Circle Internet Group, Inc. (NYSE:CRCL) during the third quarter, according to its most recent filing with the SEC. The firm acquired 359,270 shares of the company’s stock, valued at approximately $47,614,000. Quadrature Capital Ltd owned about 0.16% of Circle Internet Group as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CRCL. Sei Investments Co. purchased a new stake in Circle Internet Group in the third quarter worth $607,000. Capital Fund Management S.A. purchased a new position in Circle Internet Group during the 3rd quarter valued at $56,401,000. BNP Paribas Financial Markets raised its holdings in Circle Internet Group by 427.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 18,795 shares of the company’s stock worth $2,492,000 after purchasing an additional 15,230 shares in the last quarter. Mackenzie Financial Corp bought a new position in Circle Internet Group in the 3rd quarter worth $943,000. Finally, Van ECK Associates Corp lifted its position in shares of Circle Internet Group by 33.9% in the 3rd quarter. Van ECK Associates Corp now owns 412,822 shares of the company’s stock worth $54,732,000 after purchasing an additional 104,405 shares during the period.

Insider Activity

In other Circle Internet Group news, CFO Jeremy Fox-Geen sold 47,908 shares of Circle Internet Group stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $90.00, for a total transaction of $4,311,720.00. Following the completion of the transaction, the chief financial officer owned 261,059 shares in the company, valued at approximately $23,495,310. The trade was a 15.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rajeev V. Date sold 23,254 shares of the business’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $89.62, for a total value of $2,084,023.48. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 462,567 shares of company stock valued at $43,969,052.

Circle Internet Group Price Performance

Shares of Circle Internet Group stock opened at $113.85 on Friday. Circle Internet Group, Inc. has a 1 year low of $49.90 and a 1 year high of $298.99. The firm has a market cap of $26.81 billion and a price-to-earnings ratio of -61.21. The company has a 50-day moving average of $76.78 and a 200 day moving average of $98.20.

Circle Internet Group (NYSE:CRCL) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.25 by $0.18. The business had revenue of $770.23 million for the quarter. The business’s revenue for the quarter was up 76.9% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CRCL. Needham & Company LLC cut their target price on shares of Circle Internet Group from $190.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Circle Internet Group from $147.00 to $90.00 and set a “hold” rating for the company in a report on Thursday, November 13th. Compass Point upgraded Circle Internet Group from a “sell” rating to a “neutral” rating and set a $75.00 target price on the stock in a report on Thursday, January 29th. Zacks Research lowered Circle Internet Group from a “hold” rating to a “strong sell” rating in a research report on Monday, February 16th. Finally, Sanford C. Bernstein set a $190.00 target price on Circle Internet Group in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Circle Internet Group currently has an average rating of “Hold” and a consensus target price of $123.47.

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.