Castle Rock Wealth Management LLC Invests $1.40 Million in Circle Internet Group, Inc. $CRCL

Key Points

• Castle Rock Wealth Management LLC has invested approximately $1.40 million in Circle Internet Group, acquiring 7,735 shares during the second quarter.
• Various hedge funds have increased their stakes in Circle Internet Group, with significant purchases, including a $18.4 million stake by Exchange Traded Concepts LLC.
• Analysts have varying ratings for the stock, with an average price target of $165.54, reflecting a consensus rating of "Hold."

Castle Rock Wealth Management LLC bought a new position in Circle Internet Group, Inc. (NYSE:CRCL - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,735 shares of the company's stock, valued at approximately $1,402,000.

Other hedge funds have also recently modified their holdings of the company. Covenant Asset Management LLC purchased a new position in shares of Circle Internet Group in the second quarter worth $363,000. Baader Bank Aktiengesellschaft purchased a new position in shares of Circle Internet Group in the second quarter worth $1,083,000. PFG Investments LLC purchased a new stake in Circle Internet Group during the second quarter valued at $579,000. KG&L Capital Management LLC purchased a new stake in Circle Internet Group during the second quarter valued at $528,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Circle Internet Group during the second quarter valued at $18,397,000.

Circle Internet Group Trading Up 0.2%

NYSE CRCL opened at $148.87 on Wednesday. The business has a 50-day moving average of $139.13. The company has a market capitalization of $34.16 billion and a PE ratio of -11,764.74. Circle Internet Group, Inc. has a 12 month low of $64.00 and a 12 month high of $298.99.

Insider Transactions at Circle Internet Group

In other news, Director Patrick Sean Neville sold 260,374 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $127.08, for a total value of $33,088,327.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Nikhil Chandhok sold 50,000 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $127.08, for a total transaction of $6,354,000.00. Following the completion of the transaction, the insider owned 530,803 shares in the company, valued at approximately $67,454,445.24. The trade was a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 831,014 shares of company stock valued at $105,416,046.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Oppenheimer assumed coverage on shares of Circle Internet Group in a research note on Friday, September 12th. They set a "market perform" rating on the stock. Sanford C. Bernstein assumed coverage on shares of Circle Internet Group in a research note on Monday, June 30th. They set an "outperform" rating and a $230.00 price target on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $250.00 price target on shares of Circle Internet Group in a research note on Monday, September 8th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Circle Internet Group in a research note on Saturday, September 27th. Finally, Rothschild & Co Redburn began coverage on shares of Circle Internet Group in a research note on Friday, October 3rd. They issued a "neutral" rating and a $136.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $165.54.

Circle Internet Group Profile

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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