Van ECK Associates Corp Has $54.73 Million Position in Circle Internet Group, Inc. $CRCL

Van ECK Associates Corp increased its holdings in Circle Internet Group, Inc. (NYSE:CRCL) by 33.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 412,822 shares of the company’s stock after acquiring an additional 104,405 shares during the period. Van ECK Associates Corp owned about 0.18% of Circle Internet Group worth $54,732,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Circle Internet Group during the third quarter worth $27,000. EverSource Wealth Advisors LLC acquired a new stake in Circle Internet Group in the second quarter valued at approximately $27,000. Highline Wealth Partners LLC bought a new stake in Circle Internet Group in the third quarter worth approximately $32,000. Montag A & Associates Inc. bought a new stake in Circle Internet Group in the third quarter worth approximately $33,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Circle Internet Group during the 3rd quarter worth $35,000.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CRCL shares. Canaccord Genuity Group cut their price target on shares of Circle Internet Group from $247.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Morgan Stanley assumed coverage on Circle Internet Group in a research report on Monday, February 2nd. They issued an “equal weight” rating and a $66.00 price target for the company. Weiss Ratings restated a “sell (d)” rating on shares of Circle Internet Group in a research note on Wednesday, January 21st. Sanford C. Bernstein set a $190.00 target price on shares of Circle Internet Group in a research note on Tuesday, January 6th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $123.47.

Circle Internet Group Trading Up 5.3%

Shares of CRCL stock opened at $117.81 on Wednesday. The stock has a 50 day moving average of $75.42 and a two-hundred day moving average of $97.99. Circle Internet Group, Inc. has a 12 month low of $49.90 and a 12 month high of $298.99. The company has a market capitalization of $27.74 billion and a P/E ratio of -63.34.

Circle Internet Group (NYSE:CRCL) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.18. The firm had revenue of $770.23 million for the quarter. The company’s revenue was up 76.9% compared to the same quarter last year.

Insider Transactions at Circle Internet Group

In other news, Director Patrick Sean Neville sold 30,000 shares of Circle Internet Group stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $90.00, for a total transaction of $2,700,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Heath Tarbert sold 122,007 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $94.23, for a total transaction of $11,496,719.61. Following the completion of the sale, the president directly owned 599,156 shares in the company, valued at approximately $56,458,469.88. The trade was a 16.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 496,816 shares of company stock worth $45,837,290.

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 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.