Robeco Institutional Asset Management B.V. Invests $8.72 Million in Circle Internet Group, Inc. $CRCL

Robeco Institutional Asset Management B.V. acquired a new position in shares of Circle Internet Group, Inc. (NYSE:CRCL) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 110,000 shares of the company’s stock, valued at approximately $8,723,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CRCL. Creative Planning acquired a new position in shares of Circle Internet Group during the second quarter worth approximately $295,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Circle Internet Group during the second quarter worth approximately $1,474,000. Invesco Ltd. acquired a new position in shares of Circle Internet Group during the second quarter worth approximately $47,640,000. EverSource Wealth Advisors LLC acquired a new position in shares of Circle Internet Group during the second quarter worth approximately $27,000. Finally, Baird Financial Group Inc. acquired a new position in shares of Circle Internet Group during the second quarter worth approximately $2,649,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CRCL. HC Wainwright began coverage on Circle Internet Group in a research report on Friday, December 19th. They set a “neutral” rating and a $85.00 price objective for the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Circle Internet Group in a research report on Wednesday, January 21st. Robert W. Baird boosted their target price on Circle Internet Group from $110.00 to $138.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Canaccord Genuity Group reissued a “buy” rating and set a $160.00 target price on shares of Circle Internet Group in a report on Wednesday, March 25th. Finally, JPMorgan Chase & Co. dropped their target price on Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $126.41.

Insider Buying and Selling

In other Circle Internet Group news, President Heath Tarbert sold 122,007 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $94.23, for a total value of $11,496,719.61. Following the transaction, the president owned 599,156 shares of the company’s stock, valued at approximately $56,458,469.88. This represents a 16.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeremy Fox-Geen sold 47,908 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $90.00, for a total value of $4,311,720.00. Following the completion of the transaction, the chief financial officer directly owned 261,059 shares in the company, valued at $23,495,310. This represents a 15.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 545,874 shares of company stock valued at $52,991,625 in the last three months. Insiders own 10.85% of the company’s stock.

Circle Internet Group Price Performance

Shares of NYSE:CRCL opened at $105.75 on Thursday. Circle Internet Group, Inc. has a 12 month low of $49.90 and a 12 month high of $298.99. The stock has a market cap of $26.10 billion and a price-to-earnings ratio of -56.85. The stock’s 50 day moving average price is $91.09 and its 200 day moving average price is $94.10.

Circle Internet Group (NYSE:CRCL) last announced its earnings results on Wednesday, February 25th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.25 by $0.18. The firm had revenue of $770.23 million for the quarter. The company’s revenue was up 76.9% on a year-over-year basis.

Circle Internet Group 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.