Bank of New York Mellon Corp Purchases 117,167 Shares of Circle Internet Group, Inc. $CRCL

Bank of New York Mellon Corp lifted its position in Circle Internet Group, Inc. (NYSE:CRCL - Free Report) by 112.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 221,544 shares of the company's stock after buying an additional 117,167 shares during the quarter. Bank of New York Mellon Corp owned about 0.09% of Circle Internet Group worth $21,137,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of CRCL. Sanctuary Advisors LLC lifted its position in shares of Circle Internet Group by 56.1% during the 1st quarter. Sanctuary Advisors LLC now owns 14,127 shares of the company's stock worth $1,348,000 after purchasing an additional 5,078 shares during the last quarter. Sigma Planning Corp bought a new stake in shares of Circle Internet Group in the 1st quarter worth approximately $1,557,000. Maryland State Retirement & Pension System bought a new stake in shares of Circle Internet Group in the 1st quarter worth approximately $540,000. Principal Financial Group Inc. acquired a new stake in shares of Circle Internet Group during the 1st quarter worth approximately $7,805,000. Finally, Abound Financial LLC acquired a new stake in shares of Circle Internet Group during the 1st quarter worth approximately $38,000.

Circle Internet Group Stock Down 2.1%

Shares of CRCL stock opened at $64.32 on Wednesday. The company has a market capitalization of $15.99 billion and a P/E ratio of -20.10. Circle Internet Group, Inc. has a 12-month low of $49.90 and a 12-month high of $193.33. The firm has a 50-day moving average price of $79.05 and a 200 day moving average price of $87.05.

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 for the quarter, missing the consensus estimate of $0.27 by ($0.06). The firm had revenue of $694.13 million for the quarter. Circle Internet Group had a positive return on equity of 2.89% and a negative net margin of 2.76%.Circle Internet Group's revenue for the quarter was up 20.0% on a year-over-year basis. As a group, research analysts expect that Circle Internet Group, Inc. will post 0.86 earnings per share for the current year.

Insider Buying and Selling at Circle Internet Group

In other Circle Internet Group news, CEO Jeremy Allaire sold 56,200 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $82.93, for a total transaction of $4,660,666.00. Following the sale, the chief executive officer owned 510,579 shares of the company's stock, valued at $42,342,316.47. This represents a 9.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Heath Tarbert sold 39,240 shares of the company'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 transaction of $3,196,882.80. Following the transaction, the president owned 502,558 shares in the company, valued at $40,943,400.26. The trade was a 7.24% 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 have sold 1,956,527 shares of company stock worth $155,711,921 over the last quarter. Corporate insiders own 10.85% of the company's stock.

Wall Street Analysts Forecast Growth

CRCL has been the subject of a number of recent research reports. Weiss Ratings restated a "sell (d)" rating on shares of Circle Internet Group in a research note on Friday, July 17th. HC Wainwright raised shares of Circle Internet Group from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $85.00 to $150.00 in a report on Monday, May 18th. Robert W. Baird decreased their target price on shares of Circle Internet Group from $138.00 to $100.00 and set an "outperform" rating on the stock in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $101.00 target price on shares of Circle Internet Group in a research note on Tuesday, May 12th. Finally, Compass Point set a $62.00 price target on shares of Circle Internet Group in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Circle Internet Group presently has a consensus rating of "Hold" and an average price target of $113.25.

Circle Internet Group 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.

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