ParaFi Capital LP purchased a new stake in Circle Internet Group, Inc. (NYSE:CRCL – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 10,000 shares of the company’s stock, valued at approximately $793,000. Circle Internet Group accounts for approximately 0.2% of ParaFi Capital LP’s portfolio, making the stock its 12th biggest holding.
Other institutional investors have also recently added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC acquired a new stake in Circle Internet Group in the 4th quarter valued at $25,000. Larson Financial Group LLC grew its stake in Circle Internet Group by 3,800.0% in the 3rd quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock valued at $26,000 after acquiring an additional 190 shares during the period. EverSource Wealth Advisors LLC acquired a new stake in Circle Internet Group in the 2nd quarter valued at $27,000. Bellevue Asset Management LLC purchased a new position in Circle Internet Group in the 4th quarter valued at $29,000. Finally, Harbour Investments Inc. lifted its holdings in Circle Internet Group by 170.0% in the 4th quarter. Harbour Investments Inc. now owns 378 shares of the company’s stock valued at $30,000 after purchasing an additional 238 shares in the last quarter.
Insider Buying and Selling at Circle Internet Group
In other news, insider Hossein Razzaghi sold 34,623 shares of Circle Internet Group stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $78.85, for a total transaction of $2,730,023.55. Following the transaction, the insider owned 666,404 shares in the company, valued at $52,545,955.40. The trade was a 4.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nikhil Chandhok sold 26,666 shares of Circle Internet Group stock in a transaction on Monday, June 8th. The stock was sold at an average price of $83.75, for a total value of $2,233,277.50. Following the transaction, the insider owned 521,809 shares in the company, valued at approximately $43,701,503.75. This represents a 4.86% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 1,415,984 shares of company stock worth $120,091,637. Corporate insiders own 10.85% of the company’s stock.
Circle Internet Group Stock Up 0.0%
Circle Internet Group (NYSE:CRCL – Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.06). Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.The company had revenue of $694.13 million for the quarter. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. Research analysts expect that Circle Internet Group, Inc. will post 1.02 EPS for the current year.
Analyst Ratings Changes
A number of research analysts have weighed in on CRCL shares. HC Wainwright upgraded Circle Internet Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $85.00 to $150.00 in a report on Monday, May 18th. Freedom Capital upgraded Circle Internet Group to a “hold” rating in a report on Tuesday, April 21st. Compass Point restated a “sell” rating and issued a $77.00 price objective (down from $79.00) on shares of Circle Internet Group in a report on Thursday, April 9th. Needham & Company LLC raised their price objective on Circle Internet Group from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Finally, KeyCorp started coverage on Circle Internet Group in a report on Tuesday, May 26th. They issued a “sector weight” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $134.18.
Get Our Latest Stock Report on CRCL
About Circle Internet Group
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.
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