DekaBank Deutsche Girozentrale Purchases Shares of 11,700 Circle Internet Group, Inc. $CRCL

DekaBank Deutsche Girozentrale acquired a new position in Circle Internet Group, Inc. (NYSE:CRCL) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 11,700 shares of the company’s stock, valued at approximately $928,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Creative Planning purchased a new position in Circle Internet Group during the 2nd quarter valued at $295,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Circle Internet Group during the 2nd quarter valued at about $1,474,000. Invesco Ltd. purchased a new position in shares of Circle Internet Group during the second quarter valued at about $47,640,000. EverSource Wealth Advisors LLC purchased a new stake in Circle Internet Group in the second quarter worth about $27,000. Finally, Baird Financial Group Inc. bought a new stake in Circle Internet Group during the 2nd quarter valued at approximately $2,649,000.

Insider Activity at Circle Internet Group

In related news, Director Rajeev V. Date sold 1,273 shares of Circle Internet Group stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $95.00, for a total value of $120,935.00. Following the completion of the sale, the director directly owned 152,328 shares in the company, valued at approximately $14,471,160. This trade represents a 0.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Fox-Geen sold 4,238 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $90.00, for a total transaction of $381,420.00. Following the sale, the chief financial officer directly owned 363,726 shares in the company, valued at approximately $32,735,340. The trade was a 1.15% 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 sold a total of 545,874 shares of company stock valued at $52,991,625 over the last three months. 10.85% of the stock is owned by insiders.

Circle Internet Group Stock Performance

Shares of Circle Internet Group stock opened at $102.24 on Thursday. The company has a 50-day simple moving average of $95.79 and a two-hundred day simple moving average of $92.91. The stock has a market capitalization of $25.24 billion and a PE ratio of -56.16. Circle Internet Group, Inc. has a 52-week low of $49.90 and a 52-week high of $298.99.

Circle Internet Group (NYSE:CRCL) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.18. The firm had revenue of $770.23 million for the quarter. The firm’s quarterly revenue was up 76.9% on a year-over-year basis. As a group, equities research analysts forecast that Circle Internet Group, Inc. will post 0.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. William Blair restated an “outperform” rating on shares of Circle Internet Group in a research note on Wednesday, February 25th. Morgan Stanley set a $80.00 target price on shares of Circle Internet Group in a report on Monday. Sanford C. Bernstein set a $190.00 price target on shares of Circle Internet Group in a research report on Tuesday, January 6th. Needham & Company LLC dropped their price objective 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. Finally, Wall Street Zen cut shares of Circle Internet Group from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $127.24.

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 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.