315,600 Shares in Circle Internet Group, Inc. $CRCL Bought by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp disclosed a new fourth-quarter position in Circle Internet Group, buying 315,600 shares worth about $25.0 million, or roughly 0.13% of the company.
• Circle’s stock was up 6.9% and opened at $83.23, while the company carries a market cap of about $20.69 billion and has traded between $49.90 and $298.99 over the past year.
• Recent results were mixed: Circle reported revenue of $694.13 million, up 20% year over year, but EPS of $0.21 missed estimates. Analysts currently have a Hold consensus with an average price target of $134.18.

Alberta Investment Management Corp acquired a new position in shares of Circle Internet Group, Inc. (NYSE:CRCL - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 315,600 shares of the company's stock, valued at approximately $25,027,000. Alberta Investment Management Corp owned about 0.13% of Circle Internet Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. General Catalyst Group Management LLC purchased a new stake in Circle Internet Group in the second quarter valued at about $3,647,694,000. Marshall Wace LLP raised its stake in Circle Internet Group by 23.8% in the fourth quarter. Marshall Wace LLP now owns 9,978,729 shares of the company's stock valued at $791,313,000 after buying an additional 1,919,205 shares during the last quarter. IDG Accel China Capital II Associates L.P. purchased a new stake in Circle Internet Group in the fourth quarter valued at about $554,792,000. Accel XI Associates L.L.C. purchased a new stake in Circle Internet Group in the fourth quarter valued at about $513,844,000. Finally, Vanguard Group Inc. raised its stake in Circle Internet Group by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 5,653,110 shares of the company's stock valued at $448,292,000 after buying an additional 74,414 shares during the last quarter.

Circle Internet Group Stock Up 6.9%

Circle Internet Group stock opened at $83.23 on Tuesday. The firm has a market cap of $20.69 billion and a price-to-earnings ratio of -26.01. Circle Internet Group, Inc. has a 52 week low of $49.90 and a 52 week high of $298.99. The business's 50-day moving average price is $101.77 and its 200 day moving average price is $90.06.

Circle Internet Group (NYSE:CRCL - Get Free Report) last posted its earnings results on Monday, May 11th. The company reported $0.21 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 for the quarter. The company's revenue for the quarter was up 20.0% compared to the same quarter last year. Equities analysts expect that Circle Internet Group, Inc. will post 1.02 EPS for the current year.

Insider Buying and Selling

In other Circle Internet Group news, President Heath Tarbert sold 39,240 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $81.47, for a total value of $3,196,882.80. Following the sale, the president directly owned 502,558 shares of the company's stock, valued at approximately $40,943,400.26. This trade represents a 7.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Hossein Razzaghi sold 34,623 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $78.85, for a total value of $2,730,023.55. Following the completion of the sale, the insider directly owned 666,404 shares in the company, valued at approximately $52,545,955.40. The trade was a 4.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,415,984 shares of company stock valued at $120,091,637 in the last 90 days. Corporate insiders own 10.85% of the company's stock.

Wall Street Analyst Weigh In

CRCL has been the topic of a number of research reports. William Blair reissued an "outperform" rating on shares of Circle Internet Group in a report on Thursday. Weiss Ratings reissued a "sell (d)" rating on shares of Circle Internet Group in a report on Monday, April 20th. Clear Str raised Circle Internet Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 16th. Freedom Capital raised Circle Internet Group to a "hold" rating in a report on Tuesday, April 21st. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $160.00 price objective on shares of Circle Internet Group in a report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $134.18.

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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