Oddo BHF Asset Management Sas purchased a new stake in Circle Internet Group, Inc. (NYSE:CRCL – Free Report) during the fourth quarter, HoldingsChannel reports. The firm purchased 56,062 shares of the company’s stock, valued at approximately $4,446,000.
A number of other large investors have also added to or reduced their stakes in the business. General Catalyst Group Management LLC bought a new stake in Circle Internet Group in the 2nd quarter valued at $3,647,694,000. Marshall Wace LLP raised its stake in Circle Internet Group by 23.8% in the 4th quarter. Marshall Wace LLP now owns 9,978,729 shares of the company’s stock valued at $791,313,000 after acquiring an additional 1,919,205 shares during the period. IDG Accel China Capital II Associates L.P. bought a new stake in Circle Internet Group in the 4th quarter valued at $554,792,000. Accel XI Associates L.L.C. bought a new stake in Circle Internet Group in the 4th quarter valued at $513,844,000. Finally, Vanguard Group Inc. raised its stake in Circle Internet Group by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 5,653,110 shares of the company’s stock valued at $448,292,000 after acquiring an additional 74,414 shares during the period.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $101.00 price objective on shares of Circle Internet Group in a report on Tuesday, May 12th. Weiss Ratings restated a “sell (d)” rating on shares of Circle Internet Group in a report on Monday, April 20th. KeyCorp assumed coverage on Circle Internet Group in a report on Tuesday, May 26th. They set a “sector weight” rating for the company. Robert W. Baird boosted their price objective on Circle Internet Group from $110.00 to $138.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $160.00 price objective on shares of Circle Internet Group in a report on Wednesday, March 25th. One 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 stock. According to MarketBeat, Circle Internet Group has a consensus rating of “Hold” and a consensus target price of $134.18.
Circle Internet Group Stock Down 4.7%
Shares of Circle Internet Group stock opened at $79.47 on Wednesday. Circle Internet Group, Inc. has a twelve month low of $49.90 and a twelve month high of $298.99. The company has a 50-day simple moving average of $101.56 and a two-hundred day simple moving average of $90.11. The stock has a market capitalization of $19.75 billion and a price-to-earnings ratio of -24.83.
Circle Internet Group (NYSE:CRCL – Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.21 earnings per share 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 business had revenue of $694.13 million during the quarter. The firm’s revenue was up 20.0% on a year-over-year basis. On average, sell-side analysts anticipate that Circle Internet Group, Inc. will post 1.02 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, Director Patrick Sean Neville sold 50,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $81.30, for a total transaction of $4,065,000.00. Following the completion of the sale, the director directly owned 2,018 shares in the company, valued at approximately $164,063.40. This represents a 96.12% decrease in their position. The transaction was disclosed in a legal filing 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 Hossein Razzaghi sold 34,623 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $78.85, for a total value of $2,730,023.55. Following the sale, the insider owned 666,404 shares of the company’s stock, valued at approximately $52,545,955.40. The trade was a 4.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 1,415,984 shares of company stock worth $120,091,637. 10.85% of the stock is currently owned by insiders.
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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