Weil Company Inc. Acquires 9,823 Shares of Circle Internet Group, Inc. $CRCL

Weil Company Inc. boosted its holdings in shares of Circle Internet Group, Inc. (NYSE:CRCL) by 147.1% in the third quarter, HoldingsChannel reports. The fund owned 16,499 shares of the company’s stock after buying an additional 9,823 shares during the quarter. Weil Company Inc.’s holdings in Circle Internet Group were worth $1,356,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Southpoint Capital Advisors LP increased its holdings in shares of Circle Internet Group by 175.0% in the 1st quarter. Southpoint Capital Advisors LP now owns 3,300,000 shares of the company’s stock valued at $314,853,000 after purchasing an additional 2,100,000 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Circle Internet Group by 13.3% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,917,764 shares of the company’s stock worth $278,384,000 after purchasing an additional 342,080 shares in the last quarter. Amova Asset Management Americas Inc. lifted its position in shares of Circle Internet Group by 13.4% in the first quarter. Amova Asset Management Americas Inc. now owns 2,914,947 shares of the company’s stock worth $278,173,000 after purchasing an additional 344,539 shares in the last quarter. SBI Holdings USA Inc. acquired a new stake in shares of Circle Internet Group during the second quarter worth approximately $101,084,820. Finally, Accel XI Associates L.L.C. acquired a new stake in shares of Circle Internet Group during the second quarter worth approximately $56,999,563.

Circle Internet Group Price Performance

Shares of Circle Internet Group stock opened at $79.60 on Thursday. The firm has a market cap of $20.21 billion, a price-to-earnings ratio of 57.72 and a beta of 0.73. Circle Internet Group, Inc. has a 52-week low of $49.90 and a 52-week high of $147.44. The stock has a 50-day simple moving average of $85.36 and a 200-day simple moving average of $86.69.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.08). The business had revenue of $701.32 million for the quarter. Circle Internet Group had a net margin of 15.53% and a return on equity of 13.58%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($4.48) earnings per share. As a group, equities research analysts predict that Circle Internet Group, Inc. will post 1.10 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CRCL shares. Susquehanna reaffirmed a “neutral” rating on shares of Circle Internet Group in a research report on Tuesday, September 29th. Mizuho set a $45.00 target price on shares of Circle Internet Group and gave the stock a “neutral” rating in a research report on Friday, July 31st. Morgan Stanley cut their target price on shares of Circle Internet Group from $38.00 to $37.00 and set an “underweight” rating for the company in a research report on Thursday, August 6th. Raymond James Financial began coverage on shares of Circle Internet Group in a research note on Tuesday, July 21st. They set a “market perform” rating for the company. Finally, Seaport Research Partners set a $100.00 price target on shares of Circle Internet Group in a report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $97.82.

Insider Activity at Circle Internet Group

In other news, CFO Jeremy Fox-Geen sold 45,000 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $90.00, for a total transaction of $4,050,000.00. Following the transaction, the chief financial officer owned 323,837 shares in the company, valued at $29,145,330. This represents a 12.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nikhil Chandhok sold 26,668 shares of the firm’s stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $79.59, for a total transaction of $2,122,506.12. Following the transaction, the insider owned 715,331 shares in the company, valued at $56,933,194.29. This represents a 3.59% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 485,657 shares of company stock worth $39,207,306 over the last quarter. 10.85% of the stock is currently owned by corporate insiders.

Circle Internet Group Profile

Circle Internet Group, Inc is a global financial technology company that develops infrastructure for digital currencies and blockchain-based payments. Its primary product is USD Coin (USDC), a dollar-denominated stablecoin designed to maintain a stable value and support digital transactions, payments and transfers across blockchain networks. Circle also issues EURC, a euro-denominated stablecoin.

The company provides institutional and developer-focused services through Circle Mint, which enables eligible businesses to create, redeem and manage USDC and access related payment and treasury tools.