24,146 Shares of Circle Internet Group, Inc. $CRCL Bought by Blue Jean Financial LLC

Key Points

• Blue Jean Financial LLC initiated a 24,146-share position in Circle Internet Group valued at approximately $1.98 million. Several other institutional investors also increased or initiated holdings during the first and second quarters.
• Circle reported quarterly revenue of $701.32 million, up 6.6% year over year, but earnings per share of $0.18 missed the $0.26 consensus estimate. Analysts expect $1.10 in EPS for the current fiscal year.
• CRCL opened at $85.80, while analysts maintain a consensus “Hold” rating and an average price target of $97.82. Insiders sold approximately $39.2 million of stock over the past 90 days, primarily through pre-arranged Rule 10b5-1 plans.

Blue Jean Financial LLC bought a new stake in shares of Circle Internet Group, Inc. (NYSE:CRCL - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 24,146 shares of the company's stock, valued at approximately $1,984,000.

A number of other large investors also recently added to or reduced their stakes in the business. Southpoint Capital Advisors LP grew its holdings in Circle Internet Group by 175.0% during the 1st quarter. Southpoint Capital Advisors LP now owns 3,300,000 shares of the company's stock worth $314,853,000 after acquiring an additional 2,100,000 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Circle Internet Group by 13.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,917,764 shares of the company's stock valued at $278,384,000 after purchasing an additional 342,080 shares during the period. Amova Asset Management Americas Inc. boosted its position in shares of Circle Internet Group by 13.4% in the 1st quarter. Amova Asset Management Americas Inc. now owns 2,914,947 shares of the company's stock worth $278,173,000 after purchasing an additional 344,539 shares during the last quarter. SBI Holdings USA Inc. bought a new position in shares of Circle Internet Group in the 2nd quarter worth $101,084,820. Finally, Accel XI Associates L.L.C. acquired a new stake in shares of Circle Internet Group during the second quarter worth $56,999,563.

Circle Internet Group Price Performance

CRCL stock opened at $85.80 on Wednesday. The company has a fifty day moving average price of $86.72 and a two-hundred day moving average price of $86.45. Circle Internet Group, Inc. has a one year low of $49.90 and a one year high of $147.44. The stock has a market cap of $21.78 billion, a price-to-earnings ratio of 55.73 and a beta of 0.73.

Circle Internet Group (NYSE:CRCL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.08). The company had revenue of $701.32 million during the quarter. Circle Internet Group had a net margin of 15.53% and a return on equity of 13.58%. Circle Internet Group's revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($4.48) earnings per share. Research analysts anticipate that Circle Internet Group, Inc. will post 1.10 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Zacks Research upgraded Circle Internet Group from a "hold" rating to a "strong-buy" rating in a report on Friday, October 16th. HC Wainwright cut their target price on Circle Internet Group from $115.00 to $104.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Needham & Company LLC reduced their target price on Circle Internet Group from $150.00 to $127.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. Canaccord Genuity Group reduced their target price on Circle Internet Group from $160.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. Finally, Mizuho set a $45.00 target price on Circle Internet Group and gave the stock a "neutral" rating in a research report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $97.82.

Insider Buying and Selling at Circle Internet Group

In related news, CFO Jeremy Fox-Geen sold 45,000 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $90.00, for a total value of $4,050,000.00. Following the completion of the transaction, the chief financial officer owned 323,837 shares of the company's stock, valued at $29,145,330. This represents a 12.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nikhil Chandhok sold 26,668 shares of the company's stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $79.59, for a total transaction of $2,122,506.12. Following the transaction, the insider owned 715,331 shares of the company's stock, valued at $56,933,194.29. This trade represents a 3.59% 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 485,657 shares of company stock worth $39,207,306 over the last 90 days. 10.85% of the stock is owned by corporate insiders.

Circle Internet Group Profile

Circle Internet Group, Inc is a global financial technology company focused on digital currencies and blockchain-based payments. The company is best known for issuing USD Coin (USDC), a dollar-backed stablecoin designed to maintain a value of one U.S. dollar and support digital transactions, payments, trading and other financial applications. Circle also issues EURC, a euro-backed stablecoin.

Circle provides infrastructure and services for businesses, financial institutions and developers through products such as Circle Mint, which supports the creation, redemption and transfer of its stablecoins, as well as APIs and developer tools for integrating digital-asset payments and blockchain functionality.

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