Sigma Planning Corp acquired a new position in Circle Internet Group, Inc. (NYSE:CRCL – Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 16,321 shares of the company’s stock, valued at approximately $1,557,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. General Catalyst Group Management LLC bought a new stake in Circle Internet Group during the 2nd quarter valued at approximately $3,647,694,000. IDG Accel China Capital II Associates L.P. purchased a new stake in shares of Circle Internet Group in the 4th quarter worth about $554,792,000. Accel XI Associates L.L.C. bought a new position in shares of Circle Internet Group in the 4th quarter worth about $513,844,000. Renaissance Technologies LLC bought a new position in shares of Circle Internet Group in the 4th quarter worth about $163,948,000. Finally, Marshall Wace LLP increased its stake in shares of Circle Internet Group by 23.8% in the 4th quarter. Marshall Wace LLP now owns 9,978,729 shares of the company’s stock worth $791,313,000 after acquiring an additional 1,919,205 shares in the last quarter.
Insiders Place Their Bets
In other Circle Internet Group news, Director Patrick Sean Neville sold 1,034,396 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $82.87, for a total transaction of $85,720,396.52. Following the sale, the director directly owned 2,018 shares in the company, valued at approximately $167,231.66. This trade represents a 99.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Nikhil Chandhok sold 489,737 shares of Circle Internet Group stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $72.37, for a total value of $35,442,266.69. Following the completion of the sale, the insider directly owned 521,809 shares of the company’s stock, valued at approximately $37,763,317.33. The trade was a 48.41% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,966,527 shares of company stock worth $156,751,921 in the last three months. Corporate insiders own 10.85% of the company’s stock.
Circle Internet Group Stock Performance
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 analysts’ consensus estimates of $0.27 by ($0.06). The firm had revenue of $694.13 million for the quarter. Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The business’s revenue was up 20.0% on a year-over-year basis. As a group, equities research analysts forecast that Circle Internet Group, Inc. will post 0.98 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms recently commented on CRCL. Compass Point set a $62.00 price objective on shares of Circle Internet Group in a research note on Wednesday. Canaccord Genuity Group reaffirmed a “buy” rating and set a $160.00 target price on shares of Circle Internet Group in a research note on Wednesday, March 25th. Robert W. Baird lowered their target price on shares of Circle Internet Group from $138.00 to $100.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Susquehanna assumed coverage on Circle Internet Group in a research report on Wednesday, July 1st. They issued a “neutral” rating and a $69.00 price target on the stock. Finally, Mizuho restated an “underperform” rating and issued a $50.00 price target (down from $85.00) on shares of Circle Internet Group in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $113.25.
Get Our Latest Analysis on Circle Internet Group
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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