33,544 Shares in Circle Internet Group, Inc. $CRCL Acquired by Nykredit A S

Key Points

• Nykredit A S acquired 33,544 shares of Circle Internet Group in the second quarter, valued at approximately $2.1 million. Several other institutional investors, including Invesco and EverSource Wealth Advisors, also initiated positions.
• Circle insiders sold more than 1 million shares worth $72.9 million over the past three months. The reported director and CFO sales were conducted under pre-arranged Rule 10b5-1 plans, with the CFO’s sale partly covering tax obligations.
• Circle reported quarterly revenue of $701.3 million, up 6.6% year over year, but earnings of $0.18 per share fell short of the $0.26 analyst consensus. Analysts maintain a consensus “Hold” rating with an average price target of $99.35.

Nykredit A S acquired a new stake in shares of Circle Internet Group, Inc. (NYSE:CRCL - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 33,544 shares of the company's stock, valued at approximately $2,101,000.

Other hedge funds also recently bought and sold shares of the company. Creative Planning bought a new position in shares of Circle Internet Group in the second quarter worth about $295,000. Arrowstreet Capital Limited Partnership bought a new position in Circle Internet Group in the 2nd quarter worth about $1,474,000. Invesco Ltd. purchased a new position in shares of Circle Internet Group during the second quarter worth approximately $47,640,000. EverSource Wealth Advisors LLC purchased a new position in shares of Circle Internet Group during the second quarter worth approximately $27,000. Finally, Baird Financial Group Inc. bought a new stake in shares of Circle Internet Group during the second quarter valued at approximately $2,649,000.

Insider Activity at Circle Internet Group

In other Circle Internet Group news, Director M. Burns sold 3,332 shares of Circle Internet Group stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $85.13, for a total value of $283,653.16. Following the transaction, the director directly owned 327,226 shares of the company's stock, valued at approximately $27,856,749.38. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Fox-Geen sold 8,120 shares of the company's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $87.87, for a total value of $713,504.40. Following the transaction, the chief financial officer directly owned 308,291 shares in the company, valued at approximately $27,089,530.17. The trade was a 2.57% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 1,003,056 shares of company stock valued at $72,854,050 over the last three months. Company insiders own 10.85% of the company's stock.

Circle Internet Group Stock Performance

Shares of Circle Internet Group stock opened at $101.79 on Tuesday. The company has a market capitalization of $25.84 billion, a PE ratio of 69.72 and a beta of 0.59. The company has a 50-day simple moving average of $72.88 and a two-hundred day simple moving average of $89.27. Circle Internet Group, Inc. has a one year low of $49.90 and a one year high of $159.47.

Circle Internet Group (NYSE:CRCL - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.08). Circle Internet Group had a net margin of 15.53% and a return on equity of 13.58%. The firm had revenue of $701.32 million during the quarter. During the same quarter in the prior year, the company earned ($4.48) EPS. The business's quarterly revenue was up 6.6% on a year-over-year basis. On average, equities analysts predict that Circle Internet Group, Inc. will post 1.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CRCL has been the topic of several research analyst reports. Seaport Research Partners set a $100.00 price objective on Circle Internet Group in a research note on Monday, August 17th. Mizuho set a $45.00 target price on Circle Internet Group and gave the stock a "neutral" rating in a report on Friday, July 31st. KeyCorp assumed coverage on Circle Internet Group in a research report on Tuesday, May 26th. They set a "sector weight" rating on the stock. Canaccord Genuity Group cut their price target on Circle Internet Group from $160.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Finally, William Blair restated an "outperform" rating on shares of Circle Internet Group in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $99.35.

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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