ARK Investment Management LLC bought a new stake in Circle Internet Group, Inc. (NYSE:CRCL - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,924,403 shares of the company's stock, valued at approximately $530,165,000. Circle Internet Group makes up approximately 3.9% of ARK Investment Management LLC's holdings, making the stock its 8th biggest holding. ARK Investment Management LLC owned approximately 1.31% 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 made changes to their positions in CRCL. Brand Asset Management Group Inc. acquired a new stake in shares of Circle Internet Group in the second quarter valued at $272,000. Westbourne Investments Inc. acquired a new stake in shares of Circle Internet Group in the second quarter valued at $204,000. Baader Bank Aktiengesellschaft bought a new position in Circle Internet Group in the second quarter valued at about $1,083,000. Wealth Enhancement Advisory Services LLC bought a new position in Circle Internet Group in the second quarter valued at about $673,000. Finally, Exchange Traded Concepts LLC bought a new position in Circle Internet Group in the second quarter valued at about $18,397,000.
Insider Buying and Selling at Circle Internet Group
In other news, Director Rajeev V. Date sold 33,400 shares of Circle Internet Group stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $127.08, for a total transaction of $4,244,472.00. Following the transaction, the director owned 248,663 shares in the company, valued at $31,600,094.04. The trade was a 11.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeremy Allaire sold 357,812 shares of Circle Internet Group stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $127.08, for a total value of $45,470,748.96. The disclosure for this sale can be found here. Insiders have sold a total of 831,014 shares of company stock worth $105,416,046 over the last three months.
Circle Internet Group Stock Performance
Shares of CRCL opened at $130.16 on Wednesday. Circle Internet Group, Inc. has a 1 year low of $64.00 and a 1 year high of $298.99. The company has a market capitalization of $29.86 billion and a PE ratio of -10,286.00. The stock's 50-day moving average is $133.07.
Circle Internet Group (NYSE:CRCL - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($4.48) earnings per share for the quarter, missing the consensus estimate of $0.34 by ($4.82). The firm had revenue of $658.08 million during the quarter, compared to analyst estimates of $645.35 million. The company's revenue was up 53.0% on a year-over-year basis.
Analyst Ratings Changes
Several equities analysts recently issued reports on CRCL shares. Weiss Ratings reiterated a "sell (d)" rating on shares of Circle Internet Group in a report on Wednesday, October 8th. Wall Street Zen cut Circle Internet Group from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Rothschild Redb upgraded Circle Internet Group to a "hold" rating in a report on Friday, October 3rd. Redburn Partners set a $136.00 price target on Circle Internet Group in a report on Friday, October 3rd. Finally, Barclays started coverage on Circle Internet Group in a report on Monday, June 30th. They set an "overweight" rating and a $215.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $165.14.
Check Out Our Latest Research Report on Circle Internet Group
About Circle Internet Group
(
Free Report)
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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