GC Wealth Management RIA LLC Trims Stock Holdings in Circle Internet Group, Inc. $CRCL

GC Wealth Management RIA LLC cut its holdings in shares of Circle Internet Group, Inc. (NYSE:CRCLFree Report) by 73.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,091 shares of the company’s stock after selling 167,980 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Circle Internet Group were worth $5,829,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Public Employees Retirement System of Ohio grew its position in shares of Circle Internet Group by 294.0% during the first quarter. Public Employees Retirement System of Ohio now owns 55,969 shares of the company’s stock worth $5,340,000 after buying an additional 41,764 shares in the last quarter. Keebeck Wealth Management raised its holdings in Circle Internet Group by 12.5% in the first quarter. Keebeck Wealth Management now owns 9,000 shares of the company’s stock valued at $859,000 after acquiring an additional 1,000 shares in the last quarter. Sei Investments Co. boosted its stake in Circle Internet Group by 1,687.5% during the 1st quarter. Sei Investments Co. now owns 112,845 shares of the company’s stock valued at $10,766,000 after acquiring an additional 106,532 shares during the last quarter. Cetera Investment Advisers boosted its stake in Circle Internet Group by 15.7% during the 1st quarter. Cetera Investment Advisers now owns 28,091 shares of the company’s stock valued at $2,680,000 after acquiring an additional 3,815 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in Circle Internet Group by 543.9% during the 1st quarter. First Trust Advisors LP now owns 51,800 shares of the company’s stock worth $4,942,000 after acquiring an additional 43,755 shares in the last quarter.

Circle Internet Group Trading Down 6.1%

NYSE:CRCL opened at $62.15 on Friday. The firm has a market capitalization of $15.45 billion and a PE ratio of -19.42. The stock has a 50 day moving average of $81.95 and a 200-day moving average of $87.46. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $201.25.

Circle Internet Group (NYSE:CRCLGet Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.21 earnings per share (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 during the quarter. The business’s quarterly revenue was up 20.0% on a year-over-year basis. As a group, analysts predict that Circle Internet Group, Inc. will post 0.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CRCL has been the topic of a number of recent analyst reports. Robert W. Baird cut their target price on shares of Circle Internet Group from $138.00 to $100.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. The Goldman Sachs Group decreased their price target on Circle Internet Group from $111.00 to $96.00 and set a “neutral” rating for the company in a research note on Thursday, July 2nd. Needham & Company LLC upped their price objective on Circle Internet Group from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. HC Wainwright raised Circle Internet Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $85.00 to $150.00 in a report on Monday, May 18th. Finally, KeyCorp started coverage on Circle Internet Group in a report on Tuesday, May 26th. They issued a “sector weight” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Circle Internet Group has an average rating of “Hold” and an average target price of $113.25.

Check Out Our Latest Stock Report on CRCL

Insider Transactions at Circle Internet Group

In related news, Director Patrick Sean Neville sold 50,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $62.65, for a total value of $3,132,500.00. Following the sale, the director owned 2,018 shares of the company’s stock, valued at $126,427.70. This trade represents a 96.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 dated Wednesday, July 8th. The shares were sold at an average price of $63.90, for a total transaction of $1,703,957.40. Following the completion of the sale, the insider owned 725,068 shares in the company, valued at approximately $46,331,845.20. This represents a 3.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,956,527 shares of company stock valued at $155,711,921 over the last three months. 10.85% of the stock is currently owned by company insiders.

Circle Internet Group Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Circle Internet Group (NYSE:CRCL)

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