Acorn Financial Advisory Services Inc. ADV Invests $703,000 in Circle Internet Group, Inc. $CRCL

Key Points

• Acorn Financial Advisory Services Inc. invested approximately $703,000 in Circle Internet Group, purchasing 3,880 shares during the second quarter.
• Circle Internet Group's CFO sold 33,608 shares for about $4.08 million, reducing his position by 10.14%.
• The company's stock price recently saw an increase of 3.6%, opening at $137.79, while the market cap stands at approximately $31.61 billion.

Acorn Financial Advisory Services Inc. ADV purchased a new position in shares of Circle Internet Group, Inc. (NYSE:CRCL - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,880 shares of the company's stock, valued at approximately $703,000.

Several other hedge funds also recently modified their holdings of the business. North Star Investment Management Corp. acquired a new position in shares of Circle Internet Group during the 2nd quarter worth $34,000. Hennessy Advisors Inc. acquired a new position in shares of Circle Internet Group during the 2nd quarter worth $36,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Circle Internet Group during the 2nd quarter worth $79,000. CWM LLC acquired a new position in shares of Circle Internet Group during the 2nd quarter worth $115,000. Finally, Westbourne Investments Inc. acquired a new position in shares of Circle Internet Group during the 2nd quarter worth $204,000.

Insider Transactions at Circle Internet Group

In other Circle Internet Group news, CFO Jeremy Fox-Geen sold 33,608 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $121.45, for a total value of $4,081,691.60. Following the completion of the sale, the chief financial officer owned 297,823 shares in the company, valued at approximately $36,170,603.35. This trade represents a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Tamara L. Schulz sold 836 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $127.08, for a total transaction of $106,238.88. Following the completion of the sale, the chief accounting officer owned 93,609 shares of the company's stock, valued at $11,895,831.72. The trade was a 0.89% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 831,014 shares of company stock worth $105,416,046.

Circle Internet Group Stock Up 3.6%

NYSE:CRCL opened at $137.79 on Tuesday. The stock's 50-day simple moving average is $136.42. The company has a market cap of $31.61 billion and a P/E ratio of -10,888.89. Circle Internet Group, Inc. has a 52 week low of $64.00 and a 52 week high of $298.99.

Circle Internet Group (NYSE:CRCL - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($4.48) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($4.82). The company had revenue of $658.08 million for the quarter, compared to analyst estimates of $645.35 million. The firm's revenue was up 53.0% on a year-over-year basis.

Analyst Ratings Changes

CRCL has been the topic of several analyst reports. Rothschild Redb upgraded shares of Circle Internet Group to a "hold" rating in a research note on Friday, October 3rd. Seaport Res Ptn raised shares of Circle Internet Group to a "strong-buy" rating in a report on Friday, June 20th. Oppenheimer assumed coverage on shares of Circle Internet Group in a report on Friday, September 12th. They set a "market perform" rating for the company. JPMorgan Chase & Co. upped their price objective on shares of Circle Internet Group from $80.00 to $89.00 and gave the stock an "underweight" rating in a report on Tuesday, August 19th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Circle Internet Group in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $165.54.

About Circle Internet Group

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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