Alberta Investment Management Corp Invests $25.03 Million in Circle Internet Group, Inc. $CRCL

Key Points

• Alberta Investment Management Corp disclosed a new fourth-quarter stake in Circle Internet Group, buying 315,600 shares valued at about $25.03 million, or roughly 0.13% of the company.
• Institutional interest appears broad, with other large investors such as General Catalyst, IDG Accel China, Accel XI, Vanguard, and Renaissance Technologies also adding or holding significant positions in CRCL.
• Circle has seen notable insider selling recently, including trades by Nikhil Chandhok and Hossein Razzaghi, while the stock was trading around $80.46 after the company missed its latest EPS estimate despite year-over-year revenue growth.

Alberta Investment Management Corp bought a new stake in shares of Circle Internet Group, Inc. (NYSE:CRCL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 315,600 shares of the company's stock, valued at approximately $25,027,000. Alberta Investment Management Corp owned approximately 0.13% of Circle Internet Group as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of the business. General Catalyst Group Management LLC purchased a new stake in Circle Internet Group during the 2nd quarter valued at approximately $3,647,694,000. IDG Accel China Capital II Associates L.P. bought a new stake in Circle Internet Group in the 4th quarter valued at $554,792,000. Accel XI Associates L.L.C. purchased a new stake in Circle Internet Group in the 4th quarter worth $513,844,000. Vanguard Group Inc. lifted its stake in Circle Internet Group by 61.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,578,696 shares of the company's stock worth $739,624,000 after purchasing an additional 2,126,072 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Circle Internet Group during the 4th quarter valued at about $163,948,000.

Insider Activity at Circle Internet Group

In other Circle Internet Group news, insider Nikhil Chandhok sold 26,666 shares of the company's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $83.75, for a total value of $2,233,277.50. Following the transaction, the insider directly owned 521,809 shares in the company, valued at $43,701,503.75. This represents a 4.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 on Wednesday, June 10th. The stock was sold at an average price of $78.85, for a total value of $2,730,023.55. Following the transaction, the insider owned 666,404 shares in the company, valued at $52,545,955.40. The trade was a 4.94% 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 have sold a total of 1,415,984 shares of company stock worth $120,091,637 over the last ninety days. 10.85% of the stock is currently owned by company insiders.

Circle Internet Group Stock Performance

Shares of NYSE CRCL opened at $80.46 on Friday. Circle Internet Group, Inc. has a fifty-two week low of $49.90 and a fifty-two week high of $298.99. The company has a market cap of $20.00 billion and a price-to-earnings ratio of -25.14. The business's 50 day moving average price is $101.06 and its 200-day moving average price is $90.16.

Circle Internet Group (NYSE:CRCL - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.27 by ($0.06). The business had revenue of $694.13 million for the quarter. Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. Circle Internet Group's revenue was up 20.0% on a year-over-year basis. Sell-side analysts predict that Circle Internet Group, Inc. will post 1.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CRCL. Freedom Capital raised Circle Internet Group to a "hold" rating in a report on Tuesday, April 21st. William Blair reissued an "outperform" rating on shares of Circle Internet Group in a research note on Thursday, June 11th. Mizuho cut their price target on Circle Internet Group from $135.00 to $85.00 and set a "neutral" rating for the company in a report on Friday, June 5th. KeyCorp began coverage on Circle Internet Group in a research note on Tuesday, May 26th. They issued a "sector weight" rating on the stock. Finally, Clear Str raised Circle Internet Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $134.18.

Circle Internet Group Company Profile

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.

Want to see what other hedge funds are holding CRCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Circle Internet Group, Inc. (NYSE:CRCL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.