2,000 Shares in Circle Internet Group, Inc. $CRCL Purchased by Covenant Asset Management LLC

Key Points

• Covenant Asset Management LLC has acquired a new stake by purchasing 2,000 shares of Circle Internet Group, Inc. for approximately $363,000. This investment reflects interest from multiple institutional investors during the second quarter.
• Circle Internet Group's Director, Patrick Sean Neville, sold 260,374 shares of the company's stock valued at over $33 million, indicating significant insider activity.
• Analysts have mixed views on Circle Internet Group, with average target prices ranging from $83 to $243, suggesting a cautious sentiment among brokerages.

Covenant Asset Management LLC purchased a new stake in shares of Circle Internet Group, Inc. (NYSE:CRCL - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,000 shares of the company's stock, valued at approximately $363,000.

Several other institutional investors have also added to or reduced their stakes in CRCL. KG&L Capital Management LLC purchased a new position in shares of Circle Internet Group during the second quarter valued at approximately $528,000. TB Alternative Assets Ltd. purchased a new position in Circle Internet Group during the 2nd quarter valued at $363,000. North Star Investment Management Corp. bought a new position in Circle Internet Group in the 2nd quarter valued at $34,000. Compagnie Lombard Odier SCmA bought a new position in Circle Internet Group in the 2nd quarter valued at $79,000. Finally, Masso Torrence Wealth Management Inc. purchased a new stake in Circle Internet Group in the second quarter worth $245,000.

Insider Activity

In related news, Director Patrick Sean Neville sold 260,374 shares of Circle Internet Group stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $127.08, for a total transaction of $33,088,327.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rajeev V. Date sold 33,400 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $127.08, for a total transaction of $4,244,472.00. Following the completion of the transaction, the director directly owned 248,663 shares of the company's stock, valued at $31,600,094.04. This trade represents a 11.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 831,014 shares of company stock valued at $105,416,046.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CRCL. Wall Street Zen lowered shares of Circle Internet Group from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. The Goldman Sachs Group initiated coverage on shares of Circle Internet Group in a research report on Tuesday, August 12th. They issued a "neutral" rating and a $83.00 price objective for the company. Robert W. Baird dropped their target price on shares of Circle Internet Group from $210.00 to $185.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 13th. Citigroup initiated coverage on shares of Circle Internet Group in a research note on Monday, June 30th. They set a "buy" rating and a $243.00 price target for the company. Finally, Seaport Res Ptn upgraded Circle Internet Group to a "strong-buy" rating in a report on Friday, June 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $170.91.

Circle Internet Group Trading Up 1.9%

Shares of Circle Internet Group stock opened at $127.03 on Monday. The company has a market cap of $29.14 billion and a PE ratio of -10,038.72. The business's 50-day simple moving average is $146.77. Circle Internet Group, Inc. has a 1 year low of $64.00 and a 1 year high of $298.99.

Circle Internet Group Profile

Founded in 2013, Circle's mission is to raise global economic prosperity through the frictionless exchange of value. We intend to connect the world more deeply by building a new global economic system on the foundation of the internet, and to facilitate the creation of a world where everyone, everywhere can share value as easily as we can today share information, content, and communications.

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