Jennison Associates LLC Buys Shares of 136,824 Circle Internet Group, Inc. $CRCL

Jennison Associates LLC bought a new stake in shares of Circle Internet Group, Inc. (NYSE:CRCL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 136,824 shares of the company’s stock, valued at approximately $24,805,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. North Star Investment Management Corp. bought a new stake in shares of Circle Internet Group during the 2nd quarter valued at about $34,000. Hennessy Advisors Inc. bought a new stake in shares of Circle Internet Group during the 2nd quarter valued at about $36,000. Chilton Capital Management LLC bought a new stake in shares of Circle Internet Group during the 2nd quarter valued at about $40,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Circle Internet Group during the 2nd quarter valued at about $79,000. Finally, CWM LLC bought a new stake in shares of Circle Internet Group during the 2nd quarter valued at about $115,000.

Circle Internet Group Stock Down 6.8%

Circle Internet Group stock opened at $122.82 on Friday. The business has a 50 day moving average price of $131.93. Circle Internet Group, Inc. has a 12-month low of $64.00 and a 12-month high of $298.99.

Circle Internet Group (NYSE:CRCL) last released its earnings results on Tuesday, August 12th. The company reported ($4.48) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($4.82). The company had revenue of $658.08 million for the quarter, compared to the consensus estimate of $645.35 million. The firm’s revenue for the quarter was up 53.0% compared to the same quarter last year.

Insider Buying and Selling

In related news, Director Rajeev V. Date sold 33,400 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $127.08, for a total value of $4,244,472.00. Following the transaction, the director directly owned 248,663 shares of the company’s stock, valued at approximately $31,600,094.04. The trade was a 11.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nikhil Chandhok sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $127.08, for a total value of $6,354,000.00. Following the completion of the transaction, the insider directly owned 530,803 shares in the company, valued at approximately $67,454,445.24. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 831,014 shares of company stock worth $105,416,046 in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CRCL. Citigroup began coverage on Circle Internet Group in a research note on Tuesday, September 30th. They set a “market perform” rating for the company. JMP Securities began coverage on Circle Internet Group in a research note on Tuesday, September 30th. They set a “market perform” rating for the company. Compass Point downgraded Circle Internet Group from a “neutral” rating to a “sell” rating and cut their price target for the company from $205.00 to $130.00 in a research note on Monday, July 21st. Baird R W upgraded Circle Internet Group to a “hold” rating in a research note on Friday, July 11th. Finally, Citizens Jmp began coverage on Circle Internet Group in a research report on Tuesday, September 30th. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $165.43.

Circle Internet Group Profile

Founded in 2013, Circle’s mission is to raise global economic prosperity through the frictionless exchange of value. We intend to connect the world more deeply by building a new global economic system on the foundation of the internet, and to facilitate the creation of a world where everyone, everywhere can share value as easily as we can today share information, content, and communications.